Rio Tinto Group
Rio Tinto Group
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Canadian-based explorer Aethon Minerals has attracted global miner Rio Tinto to manage and fund up to $US25M of exploration for a 75% stake in its 100%-owned Arcas copper-gold project in the Atacama Desert 245km NE of Antofagasta, Chile.
The earn-in and JV agreement contemplates the first significant exploration program on the Arcas project since it was drilled by a Teck subsidiary in 2010.
(TECHNOLOGY)
The switch by BHP Iron Ore to ordering 41 Komatsu 930E-5 haul trucks for the autonomous haulage fleet at the largest mining and processing development in the 50-year history of WA’s Pilbara iron ore province, its $US4.6B South Flank development, underlines the rapid progress in autonomous technology systems.
Australian civil and mining contractor NRW Holdings has won the $A95M pre-strip contract for Rio Tinto’s Koodaideri Iron Ore Mine in Western Australia’s Pilbara region.
The scope includes the development of initial mining pre-strip and earthworks infrastructure over about 78 weeks, beginning in Nov 2019.
Global commodity miner/trader Glencore has lost its case to stop the Australian Tax Office (ATO) using business information leaked as part of the so-called “Paradise Papers,” Reuters reports.
Australian engineer Monadelphous has strengthened its railway services in railway work with the award of a 3-year, $A60M contract by Rio Tinto for maintenance services across its Pilbara private rail network.
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(DIGGERS & DEALERS)
It’s a trend that has been emerging for some months and, based on his conversations with brokers, analysts and fund managers at Diggers & Dealers in Kalgoorlie, leading mining sector commentator Ross Louthean suspects that traditional IPOs of early stage exploration projects are heading for the dust bin.
(DIGGERS & DEALERS)
Rio Tinto Exploration points to the use of the application of drones, hyperspectral imaging and new data input among the sophisticated techniques that will be needed to reverse the collapse in exploration in Australia and around the world. Ross Louthean reports from Diggers & Dealers in Kalgoorlie.
Modern exploration techniques are going to be key to new finds, with the application of drones, hyperspectral imaging and new data input in the kit for Rio Tinto Exploration on projects such as its keenly observed Winu copper discovery in Western Australia’s Pilbara hinterland.
RTE’s group executive-growth and innovation Stephen McIntosh told Diggers & Dealers in Kalgoorlie exploration levels have fallen to low levels, in Australia and world-wide.
Rio Tinto has awarded engineering company Monadelphous a major construction contract for its $US579M development of the West Angelas Deposits C and D at its Pilbara iron ore operations in Western Australia.
The contract, value over $100M, includes supply and installation of structural, mechanical, piping and electrical and instrumentation works associated with the construction of new iron ore facilities as well as modifications to existing plant.
Rio Tinto is still gaining encouraging results from its large exploration program at the Winu project in Western Australia’s Paterson province, with latest drilling results continuing to indicate relatively wide intersections of vein-style copper mineralisation associated with gold and silver beneath relatively shallow cover.
Current strike length is about 2.1km. It still has eight diamond rigs and 3 RC rigs drilling Winu, where the mineralisation remains open at depth and in three directions.