Rio Tinto: JV to develop Western Range

(CercleFinance.com) - Rio Tinto (54%) and China Baowu Steel Group (46%) have agreed to form a joint venture for the Western Range iron ore project in the Pilbara region of Australia, investing 2 billion dollars in the mine's development.


The 25 million tonnes of annual iron ore capacity will help support the Pilbara blend production from Rio Tinto's Paraburdoo mining centre.

The project involves the construction of a primary crusher and an 18 kilometre conveyor system linking it to the existing Paraburdoo processing plant. Construction is expected to begin in early 2023, with its first production scheduled for 2025.

Rio Tinto and Baowu have also agreed to enter into an iron ore sales agreement at market prices covering a total of 126.5 million tonnes of iron ore over a period of approximately 13 years.


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