IRON ORE: Rio Tinto okays US$749M investment in Pilbara mine

AUSTRALIA – Rio Tinto has approved a US$749 million (A$1 billion) investment in its existing Greater Tom Price iron ore operations to sustain production capacity at the mine in the Pilbara of Western Australia. The funds will be invested in phase two of the Western Turner Syncline mine. Mine development and the installation of a new crusher and 13-km conveyor are planned. The conveyor is key to reducing greenhouse gas emissions by 3.5%, compared to road haulage. Pending final government approvals, construction will start in the first quarter of 2020, and first ore through the crusher is expected in 2021. Part of the funds will be used to fit the haul truck fleet with autonomous technology. Approximately 50% of Rio’s haul truck fleet will be capable of autonomous operation by the end of 2021. Learn more about Rio Tinto’s Australian iron mines at www.RioTinto.com.