.RioTinto has amended the Rhodes Ridge agreement, paving the way for a potential 40million tonne a year ironore mine mining resources Pilbara investment WesternAustralia
PERTH – Diversified miner Rio Tinto has amended a joint venture agreement with Wright Prospecting, dating back to 1972, to allow for the development of the Rhodes Ridge iron-ore project, some 40 km from Newman.
Rio, which owns a 50% stake in the project, said on Tuesday that the updates to the binding JV agreement now provides a pathway for the development of the Rhodes Ridge deposits using Rio’s rail, port and power infrastructure.The two companies have now started an Order of Magnitude study, conducted by Rio, which will consider the development of an operation before the end of the decade with initial plant capacity of up to 40-million tonnes a year, subject to the receipt of relevant approvals.
“We are committed to working closely with the Traditional Owners, the Nyiyaparli and Ngarlawangga People, to ensure sites of significant cultural, environmental, and biodiversity value are protected as part of any future development at Rhodes Ridge. Consistent with our revised approach for new operations, a co-management approach to any future mining activity will be developed in partnership with Traditional Owners.
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