Rio Tinto, Mitsui, And Nippon Steel To Invest $733 Mln In West Angelas Sustaining Project

Nippon Steel & Sumitomo Metal Corporation

3.48 EUR -1.97%

• Charts
• News
• Analysen

Kaufen Verkaufen

(RTTNews) - Rio Tinto, Mitsui, and Nippon Steel have committed a combined investment of US$733 million, with Rio Tinto contributing US389 million, to develop the West Angelas Sustaining Project, part of the Robe River Joint Venture in the Pilbara region of Western Australia. The project has received all required approvals from State and Federal Government authorities.

Rio Tinto said that the initiative will unlock new iron ore deposits within the West Angelas hub, preserving its annual production capacity of 35 million tonnes and extending mining operations well into the future. It will utilize existing processing infrastructure and involve the construction of new non-process infrastructure precincts and 22 kilometres of haul roads.

Ore from the new deposits will be transported autonomously to the hub, with first production expected in 2027. Approximately 600 jobs will be created during the construction phase, and the project will support around 950 full-time equivalent roles once operational.

This development is part of Rio Tinto's broader tranche of replacement projects in the Pilbara, which collectively aim to maintain a total production capacity of approximately 130 million tonnes per annum.

In addition, progress continues on the pre-feasibility study for Rhodes Ridge, an undeveloped iron ore deposit targeting up to 40Mtpa in initial capacity, with first ore anticipated by 2030.

The Robe River Joint Venture is owned by Rio Tinto (53%), Mitsui Iron Ore (33%), and Nippon Steel (14%).