Roy Hill Holdings is the holding company of the Roy Hill iron ore project located in the Chichester Ranges of the Pilbara region of West Australia.

The company, in addition, POSCO and STX have purchased a 5% equity interest in RHH (3.75% and 1.25% respectively) for A$332m.

HPPL chairman Georgina Hope Rinehart said "We are delighted that POSCO and STX as our initial Roy Hill investors have increased their shareholding and we welcome Marubeni into what is the most advanced integrated independent iron ore project in Australia."

As part of the transaction, the consortium has acquired a 25% equity interest in the project in exchange for A$3.2bn, which will help meet project costs and the transaction is expected to close within 14 days.