Rio Tinto inks $3.5 billion investment in Koodaideri
November 30th, 2018
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.
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…