Rio Tinto to Invest $749 Million in Pilbara Iron Ore Operation
November 26 2019 - 4:51PM
Dow Jones News
By Robb M. Stewart
MELBOURNE, Australia--Rio Tinto PLC (RIO) said Wednesday it will
invest US$749 million in its existing Greater Tom Price operations
to help sustain iron-ore production capacity at the site in
Australia's remote Pilbara region.
Investment in the the Western Turner Syncline Phase 2 mine will
include a new crusher and a new conveyer system. The truck fleet at
the mine will be fitted with technology to enable autonomous
haulage from 2021, which Rio Tinto said is already delivering
safety benefits and improving productivity while reducing
costs.
Construction will begin in the first quarter, subject to
government approval, with the first ore from the crusher expected
in 2021.
Rio Tinto said that about half of its haul-truck fleet will be
capable of operating autonomously by the end of the year. Yhe
company said it is considering plans to expand that in the years
ahead.
Rio Tinto's Greater Tom Price iron ore production hub includes
the Tom Price, Western Turner Syncline Phase 1 and Western Turner
Syncline Phase 2 satellite hubs. Western Turner Syncline Phase 2 is
located about 35 kilometers northwest of the Tom Price mine, where
its ore is processed and loaded onto trains.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
November 26, 2019 17:36 ET (22:36 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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