Roy Hill on track despite funding concerns

Roy Hill Holdings chief Barry Fitzgerald remains confident the iron ore project is on track. Source: AAP

THE boss of Gina Rinehart's Roy Hill mining project is confident it will begin shipping iron ore in 2015 despite ongoing challenges with securing funding.

Chief executive Barry Fitzgerald says the project is on track to be ready by September 2015.

"We have no reason to change that plan," he told an iron ore conference in Perth on Wednesday.

"There are clearly challenges. There are challenges in the process all the way through."

Mrs Rinehart's Hancock Prospecting owns a 70 per cent stake in Roy Hill Holdings, which had originally hoped to have funding in place by the middle of 2013.

The remaining 30 per cent of Roy Hill is controlled by Posco, Japanese trader Marubeni, Taiwan's China Steel Corporation and Korean Shipper STX.

Mr Fitzgerald said while funding was not in place, an engineering, procurement and construction contract was about to be awarded because of the confidence that a deal with financiers would be struck.

The company has appointed Parsons Brinckerhoff as a project management contractor for the next stage of work and it expects to award the tender next week.

Roy Hill plans to ship 55 million tonnes of iron ore a year after completing its port, rail and mine infrastructure project in the Pilbara region of Western Australia.

It expects the ramp up to full production to take about a year from the date of its first shipment.

Mr Fitzgerald also sought to distance the company from legal disputes consuming Hancock Prospecting.

"The issues that may or may not be around with Hancock are of no concern to me," he said.

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