Rio Tinto Group
Rio Tinto Group
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Global miner Rio Tinto has announced plans to become North America’s first producer of high-quality scandium oxide, with construction underway of a commercial-scale demonstration plant at its Rio Tinto Fer et Titane metallurgical complex in Quebec, Canada.
The modular plant, with initial capacity of 3tpa scandium oxide equal to about 20% of global demand, is expected to begin commercial supply in the June 2021 qtr.
Rio Tinto has outlined an extended closure date of Dec 2024 for its Tiwai Point aluminium smelter in New Zealand, agreeing terms on a new contract with power supplier Meridian Energy it says will make the Southland facility economically viable and competitive over the next four years.
However, Rio Tinto says discussions are continuing with the NZ government on its commitment to address the smelter’s high transmission costs.
Newcrest Mining is advance on a potential 3-year path to commercial production at its 60%-owned Havieron gold-copper project in Western Australia’s highly prospective Paterson province after approving $A146M funding for early exploration works.
(REGULATION)
The outgoing administration of US President Donald Trump is reportedly planning to release a raft of decisions just five days before leaving office that will loosen mining regulations, allow faster project approvals and open up more federal lands for mining uses.
As J-S Jacques prepares to exit the chief executive’s suite in an act of contrition for the destruction of priceless heritage sites, Rio Tinto has acknowledged restoring its standing among stakeholders will be a long and painstaking process.
A pleasant little Christmas “gift” for Canadian-based Turquoise Hill from the Mongolian authorities - a demand for $US228M cash for alleged taxes underpaid between 2016 and 2018.
The Mongolian Tax Authority assessment follows an audit of Oyu Tolgoi LLC, the joint company of Turquoise Hill (66%) and state-owned Erdenes (34%) that owns the giant copper-gold mine 550km S of Ulaanbaatar. The mine is managed by Turquoise Hill’s 50.8% shareholder Rio Tinto.
The early appointment of current executive director/chief financial officer Jakob Stausholm as chief executive of global miner Rio Tinto will see the early departure of his predecessor, Jean-Sebastian Jacques.
Jacques was among three senior managers who resigned under pressure in September over the group’s destruction of priceless heritage sites in Western Australia’s Pilbara region to open up new iron ore mining resources.
Iron ore major Rio Tinto has awarded the $A30M expansion and upgrade contract for its Ti Tree rail camp in Western Australia’s Pilbara region to support a peak 300-plus workforce carrying out future rail maintenance and upgrades along its Tom Price to Cape Lambert line to modular building company Fleetwood.
Work starts this month on the supply, installation, refurbishment and relocation of buildings at the camp 100km N of Tom Price, with completion expected in 10 months.
Rio Tinto has outlined a long-awaited development pathway for the proposed $US6.75B underground development at the Oyu Tolgoi project in the southern Gobi region of Mongolia, with the aim of achieving sustainable production by Oct 2022.
First steps will be to finalise government approvals, funding and a power solution for the mine, owned 66% by Rio subsidiary Turquoise Hill Resources and 34% by the Mongolia government.
Global major Rio Tinto has underlined the potential for its 100%-owned Jadar project in Serbia to produce battery-grade lithium carbonate and boric acid with the declaration of a probable maiden ore reserve of 16.6Mt @ 1.81% Li2O and 12.4% B2O3.
The project, located on the doorstep of Europe’s fast-growing electric vehicle market, also has an updated estimated of additional indicated and inferred mineral resources of 139.2Mt @ 1.78% Li2O and 14.7% B2O3.