Vietnamese steel maker Hoa Phat Group has received approval from Australia's Foreign Investment Review Board to buy the Roper Valley iron ore project last year and has now started trucking ore more than 500 kilometers to the Darwin Port for export. This mine was initially developed by Sherwin Iron. The Roper Valley iron ore project has estimated reserves of 320 million tonnes and a mining capacity of 4 million tonnes per year.Hoa Phat said it is looking to buy more Australian mines to supply raw materials to its mills in Vietnam. Hoa Phat said “Hoa Phat Group is continuing to research to invest in purchasing some other new iron mines in Australia to ensure a long-term supply of at least 50% of its iron ore demand, equivalent to 10 million tonnes a year. The group is also studying to buy some Australian coking coal mines in the future to gradually become self-sufficient in this important production material."