Rio Tinto Group
Rio Tinto Group
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Global iron ore major Rio Tinto has named Primero Group to design, supply, construct and commission non-process infrastructure facilities at its Western Range mine development in Western Australia’s Pilbara region.
The contract, worth about $A54M to the NRW group subsidiary, covers the refuelling, mobile equipment maintenance, primary crusher maintenance and washdown facilities, wastewater treatment plant and water infrastructure. Primero is scheduled to complete the work about April 2024.
Global mining giants Rio Tinto and BHP face more delays in the long battle to advance their Resolution copper project in Arizona after the US Forest Service told a court it is still negotiating with Native American tribes on a land swap necessary for work to start.
Rio holds 55% interest and BHP 45% in the proposed 40Blb, 40-year mine development 60 miles east of Phoenix.
Global miner Rio Tinto will put $A6M plus its technical and operational expertise towards accelerating the development and application of graphene-aluminium-ion batteries in the mining and minerals industry.
Rio has signed a binding joint development agreement with Australian energy saving and storage specialist Graphene Manufacturing Group for its proprietary production process to produce high-quality graphene for use in clean technology and other applications.
A 230% leap in ore reserves at its Robe Mesa project has explorer CZR Resources on track to become significant new iron ore producer in Western Australia’s Pilbara region.
CZR says the increase in the JORC-compliant reserves to 27.3Mt @ 55.5% Fe (62.2% Fe calcined) underpins its mine plan for 3.5Mtpa direct shipping ore a C1 cash cost of $A57/wmt over an initial 8 years.
Global miner Rio Tinto is positioning itself to double its production of scandium with a binding $US14M agreement to acquire Australian explorer Platina Resources’ high-grade mine and processing site project in central NSW.
Rio has agreed to pay $8M upfront plus up to $6M in milestone payments for the Platina scandium project near Condobolin, 350km W of Sydney. The project has potential to produce up to 40tpa scandium oxide over 30 years.
Global iron ore leader Rio Tinto has achieved its highest March qtr shipments from its Pilbara operations in Western Australia, with chief executive Jakob Stausholm predicting further sustainable improvement in operating performance over time.
With stronger mine production and a drawdown of stocks, Rio’s Q1FY2023 shipments of 82.5Mt, while down from the 87.3Mt in the Dec qtr, was 16% higher than in the corresponding period of 2022. Its FY2023 guidance remains 320-335Mt.
Global major Rio Tinto has acknowledged it has no expectation of generating any financial return after pre-committing $A319M to its subsidiary Energy Resources of Australia’s $369M interim entitlement offer.
The 5-for-1 offer to shareholders by ERA at 2cps, a 90.2% discount to its 5-day weighted average price, will be partly used to repay an existing $100M credit facility advanced by Rio.
Canadian major First Quantum Minerals will take up the task of completing the feasibility study and progressing towards development of the giant La Granja copper project in Peru after reaching a $US651M JV agreement with Rio Tinto.
The agreement, which has been reached after more than three years of negotiation, is expected to be completed by end-Sept.
Australian engineer Monadelphous has secured dual 2-plus-5 year contracts to provide maintenance services and sustaining capital projects for global company Albemarle Lithium’s Kemerton operations in WA.
The new contracts, among $A125M in new work and extensions announced by Monadelphous, follow its large-scale structural, mechanical, electrical and instrumentation services for the 50,000tpa lithium hydroxide processing plant.
Rio Tinto chief executive Jakob Stausholm has proclaimed improved operational performance by the global miner despite a 41% fall in its attributable after-tax profit for the year to end-Dec.
Stausholm highlighted the group’s second-half records in its West Australian Pilbara iron ore mine and rail system and investments that include doubling its interest in the Oyu Tolgoi copper-gold project in Mongolia and progressing the Rincon lithium project in Argentina.