Mineral Resources announced that it has entered into an agreement with Hancock Prospecting Pty Limited and Roy Hill Holdings Pty Limited in which MRL and Hancock will jointly investigate the development of a new iron ore export facility at the Port of Port Hedland's Stanley Point Berth 3 in South West Creek, where Roy Hill would provide services to both MRL and Hancock for development and operation of the project, including rail haulage and port services The Project aligns with MRL's strategy to unlock stranded deposits in the Pilbara by developing pit-to-port solutions and expanding its capability to be a long-term, low-cost sustainable supplier of iron ore to international markets. The development of the Project will be subject to: (a) a grant by the Pilbara Ports Authority (PPA) of a capacity allocation for the Project, and all necessary approvals and agreements to develop and operate berth 3 in South West Creek and the other associated supporting port infrastructure; and b) MRL and Hancock each electing to take a positive final investment decision to proceed with the Project following the completion of a satisfactory expedited feasibility study to usual market standards. Pursuant to the Agreement, MRL and Hancock will form a joint venture to seek to obtain necessary approvals and agreements with the PPA and, if obtained, to develop and operate the iron ore export facility at Port Hedland's Stanley Point Berth 3. If developed, the Project would provide MRL with a port and rail haulage solution to deliver ore mined from MRL's deposits to Port Hedland. Haulage solutions are key to unlocking stranded assets in the Pilbara and this Agreement will provide a cost-effective solution for MRL to develop its Pilbara assets.