Rio Tinto Group
Rio Tinto Group
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Rio Tinto has awarded engineering construction group Monadelphous its first contracts under their recent framework agreement, $A320M in structural, mechanical and piping works on its Marandoo Mine Phase 2 expansion in the Pilbara region of Western Australia.
The construction and maintenance contracts, expected to take 12 months, are part of the miner’s 353Mtpa Pilbara capacity expansion program.
Rio Tinto has awarded Southern Cross Electrical Engineering the contract worth about $100M to supply and install electrical and instrumentation systems at its Cape Lambert Port B iron ore expansion project in Western Australia’s Pilbara region.
Southern Cross, which was one of the contractors signed up to framework agreements by Rio Tinto in late 2011, will commence work immediately on the new contract.
Rio Tinto has awarded a contract worth about $A32M for the installation of accommodation units at the Brockman 4 Operations Village to accommodation and infrastructure firm OTOC.
The contract is part of Rio Tinto’s Nammuldi Below Water Table Project in the West Pilbara region of Western Australia.
Work is to commence immediately upon the parties entering into an executed contract, which is due to be signed by Nov 5.
The rise of resource nationalism in Mongolia is affecting more than just Oyu Tolgoi copper-gold owner Turquoise Hill Resources and its parent Rio Tinto.
Explorer Entrée Gold, which holds 20-30% in joint ventures with Turquoise Hill at the Heruga and Hugo North Extension development projects at Oyu Tolgoi, blames political uncertainty for the recent decline in its share price.
Another top executive head has rolled at embattled Mongolian coal miner SouthGobi Resources, with the sacking of Chief Operating Officer Curtis Church. President and CEO Ross Tromans will assume his duties.
The latest top level sacking follows just a month after the appointment of Tromans, a coal and energy industry veteran and former senior executive of SouthGobi’s parent Rio Tinto. And his appointment came with the dismissal of Alexander Molyneux, who had led the company since 2009.
Mongolia is not undergoing a mining boom, it is an economic boom built on one project, the huge Oyu Tolgoi copper-gold mine, on which the newly elected government now wants to renegotiate its development.
So says corporate advisor and vice president, regional development and communications for Rio Tinto in Mongolia, David Paterson.
Mongolia’s attempts to renegotiate terms for the development of the giant Oyu Tolgoi coper/gold mine could destroy the country’s economic revival. Mark Mentiplay reports.
Third quarter record production despite volatile markets
Rio Tinto continues to defy talk of a Chinese market slowdown, maintaining its 2012 iron ore production forecast of 250Mt from its global operations in Australia and Canada.
The world iron ore No 2 lifted global output for the September quarter by 5% to 67Mt (53Mt attributable to Rio Tinto), including a record 62.9Mt from its Pilbara operations in Western Australia (50.3Mt).
Rio Tinto has confounded the iron ore doomsayers with record production of 63Mt from its Pilbara, Western Australia operations for the September quarter. Copper, bauxite, alumina and titanium dioxide production were also all higher year-on-year.
Chief executive Tom Albanese says the results are a measure of the company’s resilience.