Rio Tinto Group
Rio Tinto Group
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Australian engineer Monadelphous is facing a $A493M claim from iron ore giant Rio Tinto over a fire at its Cape Lambert sinter fines processing facility in WA in January 2019.
Rio Tinto filed a writ of summons against Monadelphous Engineering Associates in the WA Supreme Court on July 30.
The writ does not quantify the claim, but Monadelphous says it’s been advised the global miner is seeking $35M in material damage costs for rebuilding the facility and $458M for loss of business and work-around solutions.
After posting a maiden resource last week for its 100%-owned Winu copper-gold project, Rio Tinto has extended its reach in Western Australia’s Paterson province through a new exploration JV over veteran explorer Sipa Resources’ Paterson North tenement package.
The farm-in agreement enables Rio Tinto Exploration to earn up to 80% by funding $A12M and defining mineral deposits while subscribing $0.25M for Sipa shares.
Global miner Rio Tinto’s posting of a maiden Winu resource and its new discovery nearby justify the growing excitement over the potential of the Paterson province in the Pilbara region of Western Australia.
The long-awaited disclosure of a maiden resource at Rio Tinto’s 100%-owned Winu copper-gold project has been accompanied by the discovery of a new zone of gold-dominant mineralisation just 2km away in Western Australia’s Paterson Province.
Rio posted an inferred resource of 503Mt @ 0.45% copper equivalent (cutoff 0.2% CuEq), including a higher-grade component of 188Mt @ 0.68% CuEq (cutoff 0.45% CuEq), in a potential relatively shallow openpit mine targeting first production in 2023.
Rio Tinto begins the transition back to normal rostering at its West Australian iron ore operations as COVID-19 fightback successes help bring first half export shipments back on track for FY2020 guidance.
(HERITAGE)
A parliamentary inquiry into the destruction by Rio Tinto of Aboriginal sacred sites containing 46,000-year-old artefacts for an iron ore mine expansion has been urged to explore the lack of action by the Australian government to prevent or delay the blasting.
A 19% increase in June qtr (Q2) iron ore export shipments from the operational disruptions and infrastructure damage caused by tropical cyclone Damien in Feb has kept Rio Tinto on track for its FY2020 guidance.
The global miner posted Q2 shipments of 86.7Mt from its Pilbara operations in Western Australia for the three months, up from 72.9Mt in Q1, lifting its first half total to 159.6Mt. Full year guidance remains 324-334Mt.
Australian explorer Antipa Minerals has done a series of deals worth $A33.2M, led by miner IGO’s $30M farm-in on 1,563sq km of Antipa’s 100%-owned gold-copper tenements in the Paterson Province, Western Australia.