Rio Tinto Group
Rio Tinto Group
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Record second-half performance across its West Australian mine and rail system has enabled global giant Rio Tinto to lift its Pilbara iron ore production to 324.1Mt for the year to Dec 2022, a 1% improvement on the previous year. Iron ore shipments were 321.6Mt, level with FY2021.
With its new Gudai-Darri operation expected to reach sustained nameplate capacity during the year, Rio Tinto maintains its Pilbara shipments FY2023 guidance at 320-335Mt.
Iron ore leader Rio Tinto has awarded a $A330M-plus construction contract to engineering firm Civmec for its Western Range project at Paraburdoo in Western Australia’s Pilbara region.
The contract covers greenfields construction of a new ROM pad, primary crushing facility, discharge conveyor and transfer station and a 17km conveyor system linking to the existing Paraburdoo coarse ore stockpile including multiple flights, transfer stations and creek crossings.
Global miner Rio Tinto is a step closer to development planning for the world’s largest and richest known high-grade iron ore deposit at Simandou in Guinea with the signing of a non-binding term sheet with Chinese state-owned steelmaker Baowu Group for the project’s infrastructure.
Baowu confirmed the signing of the agreement and intends to fast-track negotiations on the shareholder agreement, Reuters reported.
The move by Rio Tinto to full ownership of Turquoise Hill should be completed within days after the minority shareholders of its Canadian subsidiary voted in favour of the $US3B takeover of the 49% of shares it does not currently own.
The transaction, which will result in Rio Tinto holding 66% of the Oyu Tolgoi copper-gold mine in Mongolia in partnership with the national government, now goes to a Supreme Court of Yukon hearing scheduled on Dec 14 ahead of customary closing procedures.
West African-focused explorer Arrow Minerals is launching an ambitious growth strategy with binding agreement to acquire up to 60.5% in the Simandou North iron project in Guinea via the issue of 500M shares, $1M in cash/shares and $2.5M on exploration expenditure.
Global major Rio Tinto has cleared the path to development of one of the world’s greatest undeveloped iron ore deposits, the Rhodes Ridge project in Western Australia’s East Pilbara region.
Rio Tinto and private partner Wright Prospecting have agreed to update their 50-50 JV agreement and begun a study aiming to develop an initial 40Mtpa operation by 2030.
Rhodes Ridge’s total resources of 6.7Bt @ 61.6% Fe represents about a third of the company’s current Pilbara resource base.
Iron ore giant Rio Tinto expects FY2022 shipments from its Pilbara, Western Australia operations to be at the low end of its original 320-335Mt range despite increasing its Sept qtr (Q3) to 82.9Mt, up from 79.9Mt in the previous period.
The increase was despite incidents affecting rail operations for its Yandicoogina and Gudai-Darri mines.
The rift between Energy Resources Australia and its 86% shareholder Rio Tinto has escalated into the announcement of the planned resignations of the uranium miner's chairman and two independent directors.
Chairman Peter Mansell and non-executive directors Paul Dowd and Shane Charles announced they could not continue to work with Rio.
Their departure leaves the company in the hands of Rio appointed directors Justin Carey, Jacques van Tonder and Rosemary Fagen.
The split between Rio Tinto and its 86%-owned subsidiary Energy Resources of Australia over the costs and progress of their rehabilitation of the Ranger uranium project in the NT has widened, with a call on ERA chairman Peter Mansell to resign.
Rio says a board renewal, starting with Mansell's departure, is needed to bring new perspectives to the giant task of restoring the environmentally sensitive site from the impacts of nearly 40 years of mining.
Global miner Rio Tinto has approved a $US55M investment for the first step towards significant underground development of the massive Kennecott copper mine in Utah, USA.
Rio has approved a $US55M investment to commence underground mining and expand production of the nearly 120-year-old mine.
First ore is expected in early 2023, leading to full production in H2.