Name of the Project
Rhodes Ridge iron-ore project.

Location
East Pilbara, in Western Australia.

Project Owner/s
Rhodes Ridge Joint Venture (JV) comprising Rio Tinto 50%, Mitsui 40% and AMB Holdings 10%.

Project Description
Rhodes Ridge is one of the world’s best undeveloped iron-ore deposits. It contains 6.8-billion tonnes of mineral resources at an average grade of 61.6% iron, including 5.3-billion tonnes at 62.2% iron and 600-millon tonnes at 63.9% iron.

The project, which has a potential capacity of about 100-million tonnes of high-quality iron-ore a year, will maintain Rio Tinto’s pathway to achieve and sustain midterm capacity of 345-million to 360-million tonnes a year from its Pilbara iron-ore business. 

An order of magnitude study has proposed the development of an operation with initial capacity of up to 40-million tonnes a year, subject to relevant approvals.

The development will use Rio Tinto’s rail, port and power infrastructure.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Not stated.

Planned Start/End Date
Subject to relevant regulatory approvals, first ore from the initial Rhodes Ridge development is expected by 2030.

Latest Developments
The Rhodes Ridge Joint Venture has approved a $191-million (Rio Tinto share $96-million) feasibility study to progress development of the first phase of the Rhodes Ridge project.

The feasibility study will assess development of an operation with initial production capacity of 40- to 50-million tonnes of iron-ore a year.

The JV partners intend to invest a further $146-million on exploration between 2026 and 2028 as part of ongoing study phases.

The feasibility study is expected to be completed in 2029.

The Rhodes Ridge Joint Venture will work closely with Nyiyaparli Traditional Owners throughout the mine life cycle, guided by the recently updated Native Title agreement’s engagement framework, to protect and manage cultural heritage and the environment.

Through the project design the JV is also finding better ways to reduce its impact on the environment through minimising disturbance and reducing long-term closure impacts.

The progression to feasibility study follows Mitsui’s announcement earlier this year to acquire a 40% interest in the JV.

Rhodes Ridge will be a staged development. This investment and feasibility study is focused on Phase 1, with an initial hub likely in the northern part of the project. It will leverage Rio Tinto’s existing rail, port and power infrastructure.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Rio Tinto, tel +61 8 9327 2000 or email media.enquiries@riotinto.com.