Rio Tinto Group
Rio Tinto Group
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Rio Tinto and BHP have had a victory over their long-delayed Resolution project in the USA, with an appeals court ruling a 2014 Obama administration land swap to enable exploration for the proposed underground mine was legal.
The San Francisco court rejected an appeal by an Apache community group, which claimed the proposed $US6B development 60 miles E of Phoenix would destroy land sacred to local tribes.
Australian uranium company ERA has confirmed it is talking with substantial shareholders on a potential interim entitlement offer to meet its urgent need for funding the increasing costs of rehabilitating Ranger project area in the NT.
Responding to media reports, the Rio Tinto subsidiary says it expects to be in a position to announce the size, price and structure of the entitlement offer within weeks.
Trains and trucks and drills ... autonomous fleets and advanced systems are among the features that convey global iron ore leader Rio Tinto into a new era of technological innovation at its Gudai-Darri iron ore mine in Western Australia. John Feary reports
Australian iron ore leader Rio Tinto has brought the first greenfield mine online in more than a decade at its WA Pilbara system with the first ore delivery at its new Gudai-Darri development.
Completion of the 43Mtpa mine and production hub 110km NW of Newman was delayed from late-2021 due to COVID-related labour shortages and travel restrictions. Final capital cost is estimated to be $US3.1B.
Rio Tinto expects Gudai-Darri to ramp-up to full capacity in 2023, with a forecast life of more than 40 years.
West Australian iron ore hopeful CZR is closing in on growth targets for its Robe Mesa project with a 52% lift in its JORC-compliant indicated and inferred resource to 37.5Mt @ 56% Fe – up from 24.7Mt at the same grade in its previous Jan 2016 estimate.
The upgrade meets CZR’s strategy to increase forecast production while maintaining specifications similar to its peers and to Rio Tinto’s adjoining Robe Valley operations.
Rio Tinto has advanced up to $A400M liquidity to 51%-owned subsidiary Turquoise Hill Resources that will allow the Canadian company to fund ongoing underground development of the Oyu Tolgoi project in Mongolia.
The amendment to the funding plan agreed in March will enable short-term advances while TRQ evaluates Rio Tinto’s $C34 per share bid to take 100% ownership of the company.
The change also extends the deadline for TRQ to conduct a $650M equity raising by four months to end-2022.
Iron ore major Rio Tinto has widened its search for future new production sources in Western Australia’s Pilbara region with agreements to explore with the option to acquire four tenements close to existing mines.
Rio has agreed to pay up current holder DiscovEx Resources up to $A9.3M including option fees and royalties for the iron ore rights over its Sylvania project, 15km SW of Newman.
DiscovEx will retain rights over other materials, and will continue to explore its gold and base metal potential.
Rio Tinto chief executive Jakob Stausholm has re-emphasised the need to lift the global mining giant’s operational performance after a challenging first quarter of FY2022 that saw lower production of iron ore, aluminium and copper.
Global major Rio Tinto is maintaining FY2022 production guidance for its iron ore operations in Western Australia despite a challenging March qtr (Q1) that saw its Pilbara production and shipments fall 15%.
Resource shortages and supply chain quality issues trimmed Q1 shipments to 71.5Mt (Q4FY2021: 84.1Mt), but Rio predicts increased production and improved product mix in H2 support its FY forecast of 320-335Mt.
Australian engineer Monadelphous has won Rio Tinto’s nod to carry out upgrades and modifications to the existing plant infrastructure in the Western Turner Syncline Phase 2 mine at its 100%-owned Greater Tom Price operation.
The shutdown work, part of the global miner’s work to maintain production capacity in its WA Pilbara system, is due for completion in the second half of 2022.
The new contract is among new contracts and extensions for Monadelphous in the resources and energy sector, collectively worth $A230M.