Rio Tinto Approves Next Study for Rhodes Ridge Iron Ore Project
05 December 2023 - 9:38AM
Dow Jones News
By Rhiannon Hoyle
Rio Tinto said on Tuesday it has approved a $77 million
pre-feasibility study for the Rhodes Ridge iron ore project in
Western Australia's Pilbara region, a development that could
underpin the miner's giant iron-ore operations in the area for
decades to come.
The miner called Rhodes Ridge one of the world's best
undeveloped iron ore deposits and said it expects to finish the
pre-feasibility study by the end of 2025. First production from the
project is expected by the end of the decade.
The latest study follows a so-called order of magnitude study
that suggested a mining operation there could have an initial
capacity of up to 40 million metric tons a year.
"Longer term, the resource could support a world-class mining
hub with a potential capacity of more than 100 million [tons] of
high-quality iron ore a year," said Simon Trott, the head of Rio
Tinto's iron ore business.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
December 04, 2023 17:23 ET (22:23 GMT)
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