Rio Tinto Group
Rio Tinto Group
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Iron ore major Rio Tinto has foreshadowed a loss of up to 9Mt of production at its Pilbara operations in Western Australia as a result of infrastructure damage across its entire network from tropical cyclone Damien this month.
In its first official statement since the cyclone crossed the Pilbara coast at Karratha on Feb 8, Rio says all its mines experienced some disruption and infrastructure damage impacted access roads, electrical and communications infrastructure and accommodation.
Australian international engineer Saunders International says it’s achieved a significant milestone of its 70-year history with selection by Rio Tinto for a major 2-year repair contract at its Yarwun alumina refinery near Gladstone in Qld.
The future of Rio Tinto’s ISAL aluminium smelter at Hafnarfjörður in Iceland is in question again, with the global miner announcing a strategic review into its viability. The review will explore all options including curtailment or closure, and involve discussions with the Iceland govt and power provider Landsvirkjun on how it can return to profitability.
Rio Tinto Aluminium chief executive Alf Barrios says ISAL is unprofitable and cannot compete in challenging market conditions due to its high power costs.
Iron ore major Rio Tinto has chosen New Zealand-based automation and robotics solutions provider Scott Technology to design and build the automated mine site laboratory for its $US2.6B Koodaideri project in WA’s Pilbara region.
Under the contract, Scott will undertake building construction and equipment supply for the robotic sample preparation and analysis laboratory, leveraging recent advancements in automation and digitisation.
Australian-based electrical and maintenance services company SCEE has won a contract valued at more than $A18M for relocation works as part of the rehabilitation of Rio Tinto’s Gove bauxite refinery site in NE Arnhem Land in the NT.
SCEE expects to commence mobilisation in the current quarter to begin work on isolation and re-routing of electrical and hydraulic services to the refinery. Completion is due by March 2021.
Australian-based Valor Resources is reviewing its approach to the advanced-stage Berenguela copper-silver project in southern Peru after losing its earn-in partner, Rio Tinto’s Kennecott Exploration.
Kennecott terminated its agreement to spend $US10.7M over four years for a 75% interest in the potential shallow openpit development of a 350,000t copper, 127Moz silver and 2.34Mt manganese deposit after failing to identify the mineralisation’s source during its first-year exploration.
Multi-disciplinary engineer Primero Group has won the EPC contract for Fortescue Metals Group’s Christmas Creek wet high intensity magnetic separation project in the West Australian Pilbara. The contract is one of two major new project wins worth about $A100M for Primero.
Mining major Rio Tinto has walked away from its $US57M exploration earn-in deal for up to 75% of Australia-based explorer Sipa Resource’s Uganda land package, including the large magmatic Ni-Cu sulphide discovery at Akelikongo.
Since inception of the J/V in May 2018, Rio has spent $4.2M on exploration. Sipa says it will begin new partnership discussions immediately.
Majority shareholder Rio Tinto may compulsorily acquire all shares in uranium mining subsidiary Energy Resources of Australia as part of its underwriting of a share issue, but must first disclose its intentions to other shareholders, Australia’s corporate watchdog the Takeovers Panel has ruled.
Rio agreed last year to underwrite a $A476M entitlement issue by ERA to fund the rehabilitation of its end-of-life Ranger mine site in the NT.
World iron ore leader Rio Tinto predicts 3% increase in Pilbara shipments after first-half weather and operational challenges restrict FY2019 production.