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Rio Tinto to invest $733m in West Angelas iron ore expansion
(Sharecast News) - Mining giant Rio Tinto said on Tuesday that it will invest $733m alongside joint venture partners Mitsui and Nippon Steel to develop new iron ore deposits at the West Angelas hub in Western Australia's Pilbara region, with Rio's share totalling $389m. Rio Tinto said the West Angelas sustaining project, part of the Robe River JV, has now received full State and Federal approvals and will maintain the hub's annual production capacity of 35m tonnes, extending mining activity well into the next decade.
The FTSE 100-listed firm said first ore was expected in 2027, with around 600 jobs created during construction and 950 full-time roles sustained once operational. Ore will be autonomously trucked to existing processing infrastructure, supported by new haul roads and non-process facilities.
Rio Tinto Iron Ore chief Matthew Holcz said the project was "built on strong and committed partnerships" with Mitsui, Nippon Steel and the Yinhawangka and Ngarlawangga Peoples, who co-designed cultural heritage plans for the site.
Rio Tinto added that the development forms part of its broader Pilbara replacement programme, which will support a combined capacity of around 130m tonnes per annum. The miner also said work was progressing on the Rhodes Ridge pre-feasibility study, targeting up to 40m tpa and first ore by 2030.
Reporting by Iain Gilbert at Sharecast.com
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