Rio Tinto to invest $13.3bn in Pilbara mines over next three years
Rio Tinto chairperson Dominic Barton addressing the company's annual general meeting.
Diversified mining company Rio Tinto has reaffirmed its commitment to the Pilbara region, revealing plans to invest $13.3-billion in new mines and equipment over the next three years.
Chairperson Dominic Barton said at the company’s annual general meeting this week that the investment underscores the long-term potential of its operations in Western Australia.
He highlighted several major projects that are set to shape the future of Rio Tinto’s mining operations in the Pilbara. These include expansions at key sites such as Western Range, West Angelas, Hope Downs 1, Greater Nammuldi, and Brockman 4.
"Our development pipeline extends well into the next decade and beyond with new mines and projects," said Barton.
One of the key undertakings for Rio Tinto in the region is the Rhodes Ridge project. Currently under study, Rhodes Ridge has the potential to become the largest iron-ore mine in Australia, with the possibility of producing more than 100-million tonnes a year if fully developed.
The $13.3-billion investment follows a similar level of spending in the Pilbara over the past three years, amounting to $8.5-billion.
Beyond the mining projects themselves, Rio Tinto is placing significant emphasis on its relationship with local communities. CEO Jakob Stausholm reiterated the company’s commitment to supporting Western Australia’s economy, noting that Rio Tinto’s expenditure with local suppliers had reached a record A$10.3-billion last year, a A$1.5-billion increase from the previous year.
“We are deeply committed to the communities here because we know we cannot operate without their trust,” Stausholm said. “We work with roughly 2 400 suppliers in the region each year – a symbol of our ongoing commitment to support jobs and deliver shared success."
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