Hoa Phat Group completed the acquisition of Roper Valley iron ore mine.

Hoa Phat Group, a steel maker, completed the acquisition of Roper Valley iron ore mine, an Australian iron mining project. Financial terms were not disclosed. This is Hoa Phat’s first major investment in Australia, which holds the world’s largest supply of iron ore, and the group is considering buying more projects there to have a total annual capacity of 10m tonnes a year, or half of the group’s demand. Hoa Phat is also considering buying coking coal mines in Australia.