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Rio Tinto inks $3.5 billion investment in Koodaideri

Rio Tinto is on track to begin construction of the Koodaideri iron ore mine in the Pilbara, Western Australia next year after approving a $US2.6 billion ($3.5 billion) investment in the project.

The miner plans to start production at Koodaideri, around 35 kilometres from its Yandicoogina iron ore site, in late 2021.

With an estimated capacity of 43 million tonnes a year, it is poised to become Rio Tinto’s next major Pilbara hub and will integrate extensive automation and digitisation technologies.

The project is also set to increase the higher-value lump component of Rio Tinto’s Pilbara Blend by around 3 per cent to 38 per cent at a capital spend of roughly $60/t.

Rio Tinto has emphasised a ‘value over volume’ approach to Koodaideri, delivering low-cost, high-quality iron ore to overseas markets, particularly China.

Its phase one construction works will include mine infrastructure, support facilities, accomodation, road access, rail spur and an airport. Read more…

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