Rio Tinto clears further $1.2-bn ore investment at Pilbara
03 Dec 2010
Rio Tinto has approved a further $1.2 billion investment in its drive to lift annual iron ore production capacity in Western Australia's Pilbara region to 283 million tonnes per annum.
The capital will be used for significant expansions at the Brockman 4 and Western Turner Syncline mines.
This latest development is part of Rio Tinto's broader plan to expand capacity by more than 50 per cent over the next five years to 333 Mt/a, which is the largest mining project in Australian history. Rio Tinto has announced new investment of $7.2 billion (Rio Tinto's share $5.1 billion) in the Pilbara since July this year.
Rio Tinto chief executive of its iron ore business and Australia, Sam Walsh, said the expanded mines would provide the bulk of the additional throughput for the recently announced $3.1 billion rail and port works around Cape Lambert (See: Rio Tinto unveils $3.1-bn Pilbara iron ore expansion).
"These decisions highlight our strategy of bringing on new capacity in line with infrastructure developments, using 100 per cent Rio Tinto-owned brownfield developments to dovetail with existing infrastructure where possible," he said.
"It also highlights the wealth of large, long-life, well situated and wholly owned deposits we can bring forward in conjunction with our expansions of port and rail capacity."
