Port of StocktonTMS Tanker Conference 2018TBA - Software Solutions & Services for ports, terminals & warehousesCleveland Cascades LtdTMS Awards 2016 winnersVigan Engineering S.A
  • TMS Tanker Conference 2018
  • Port of Stockton
  • Telestack
  • The Mississippi Valley Trade & Transport Council
  • Bühler GmbH
  • Sailors Society

Rio Tinto approves Pilbara iron ore investment

Rio Tinto approves Pilbara iron ore investment

(Posted on 04/10/18)

Rio Tinto, together with joint venture partners Mitsui and Nippon Steel & Sumitomo Metal, have approved an investment of $1.55 billion (Rio Tinto's 53 per cent share $820 million) to sustain production capacity at two projects which form part of the Robe River Joint Venture in the Pilbara region of Western Australia.

The joint venture partners will invest $967 million (Rio Tinto share $513 million) to develop the Mesa B, C and H deposits at Robe Valley, and $579 million (Rio Tinto share $307 million) in developing Deposits C and D at the existing West Angelas operation. These investments enable Rio Tinto to sustain production of the Pilbara Blend, the world's most recognised brand of iron ore, and its Robe Valley lump and fines products, which are highly valued by long-term customers.

Subject to government and environmental approvals, construction of both projects is expected to start next year with an estimated 1,200 jobs created during this phase. First ore is currently anticipated from 2021. These investments will also provide significant opportunities for local businesses as part of Rio Tinto's commitment to local procurement and supporting WA businesses.

Once operational, both projects will feature the latest technology with 34 existing haul trucks to be retrofitted with Autonomous Haulage System (AHS) technology, delivering safety and productivity gains to the business.

Rio Tinto Iron Ore chief executive Chris Salisbury said "The development at West Angelas will help sustain production of the Pilbara Blend, the industry’s benchmark premium iron ore product, while the additional Robe Valley deposits will enable us to continue to provide a highly valued product to our long-term customers across Asia."

"The approval of these two projects highlights the strong pipeline of development options within our portfolio as we remain focused on our value-over-volume strategy."

Rio Tinto's funding commitment for both projects of $820 million forms part of the company's existing replacement capital guidance of around $2.7 billion from 2018 to 2020.

Rio Tinto owns a 53 per cent holding in the Robe River Joint Venture, Mitsui 33 per cent and Nippon Steel & Sumitomo Metal Corporation 14 per cent.

Latest News

The future of trading is (more) female

(Posted on 16/03/19)

If you talk to women in trading and risk management roles across Cargill, you will hear a range of ideas... Read more


ADM and Cargill complete agreement

(Posted on 16/03/19)

Archer Daniels Midland Company and Cargill have successfully completed their transaction, formally launching... Read more


BHP invests in emissions reduction company

(Posted on 16/03/19)

BHP has announced a US$6m equity investment in Carbon Engineering Ltd (CE), a Canadian-based company... Read more


RUSAL announces 2018 results

(Posted on 11/03/19)

RUSAL, a leading global aluminium producer, announces its results for the year ended 31 December 2018... Read more


Polish Coal imports in 2018

(Posted on 11/03/19)

EUBALTICA, the advisory and consultancy company for Morska Agencja Gdynia (MAG) in Poland has supplied... Read more


Bühler Insect Technology Solutions and Alfa Laval join forces

(Posted on 11/03/19)

Bühler Insect Technology Solutions, a pioneering provider of integrated solutions for insect rearing... Read more


Rio Tinto exploration update

(Posted on 11/03/19)

Rio Tinto has discovered copper-gold mineralisation at the Winu project in the Yeneena Basin of the... Read more


NGFA joins crop insurance funding coalition

(Posted on 26/02/19)

The NGFA joined 59 other farm and agribusiness groups in signing a letter urging the US Congress... Read more


Greek customers return to US soy

(Posted on 26/02/19)

While Greek livestock and feed markets are developing slowly, specific segments, notably poultry and... Read more


MPA welcomes publication of the latest UK EITI report

(Posted on 26/02/19)

The Mineral Products Association has welcomed the publication of the latest UK Extractive Industries... Read more


Sailors SocietyMULTIMODAL 2019The Mississippi Valley Trade & Transport CouncilTelestackTOC EventsOvet
  • Cleveland Cascades Ltd
  • Ovet
  • Cimbria Bulk Equipment A/S

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping