Rio Tinto Group
Rio Tinto Group
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Australian miner ERA and its parent company Rio Tinto are facing a potential bill over $A2B and two-year delay to rehabilitate the mothballed Ranger uranium mine in the NT.
A review by engineering firm Bechtel of the rehabilitation project has estimated the costs at $A1.6-2.2B, up from $973M previously, and its timescale to Q4 2027-Q4 2028 – nearly three years past ERA's legislated completion deadline.
Rio Tinto is predicting completion and first sustainable production in H1 2023 from the long-delayed underground expansion of the Oyu Tolgoi copper-gold project in the South Gobi desert after completing a $US2.4B deal with the Mongolian government.
Under the deal, first announced by Mongolian PM Oyun-Erdene Luvsannamsrai last month, Rio Tinto subsidiary Turquoise Hill Resources will waive the full amount of its loan to state-owned partner Erdenes Oyu Tolgoi.
(COMMENTARY)
Western Australia’s anti-pandemic walls stay in place but mining leaders warn the state government must come up with new processes and rules for the safe reopening of borders that will help them overcome the growing threat of skill shortages.
Serbia has revoked global mining major Rio Tinto's lithium exploration licences, bowing to protesters who opposed development of the $US2.4B Jadar lithium project on environmental grounds, Reuters reports.
Cultural heritage issues triggered by its destruction of ancient shelters plus delays in bringing new and replacement mines into production have contributed to a 4% fall in Dec 2021 financial year iron ore production from Rio Tinto’s Pilbara operations in Western Australia.
Above average rainfall in the first half also contributed to the global miner’s FY2021 output slipping to 319.7Mt, from 330.6Mt a year earlier.
Global miner Rio Tinto has promised to pause work of its Jadar lithium project in Serbia to allow public debate on its proposed $US2.4B development of a 40-year mine delivering 58,000tpa lithium carbonate, 160,000tpa boric acid and 255,000tpa sodium sulphate at full production.
Rio Tinto planned to start production in 2026 but municipal authorities in Loznica, western Serbia, last week denied a land allocation plan for the mine last week after widespread protests by environmental activists.
Growing West Australian miner IGO has told JV partner Antipa Minerals it’s ready to take over management of exploration programs at their Paterson gold-copper JV in the state’s mineral search hotspot, the Paterson Province.
After completing the $A4M first stage earn-in 1.5 years, a year ahead of schedule, IGO has committed to spend a further $A26M between Mar 2022 and Jan 2027 for a 70% stake.
Global Rio Tinto has taken a step towards preparing itself for the global energy transition with a binding agreement to acquire Rincon Mining’s large undeveloped Salar del Rincon brine project in the heart of the lithium triangle in Argentina’s Salta province for $US825M.
Mining giant Rio Tinto says it won’t abandon the planned $US2.4B development of its 100%-owned Jadar lithium-borates project in Serbia despite local authorities claiming they have scrapped the proposal.
Authorities in the western Serbian town of Loznica responded to protests and road blockades by environmental activists over claims the mine will pollute land and water in the Jadar Valley.
Anglo-Australian mining giant Rio Tinto has agreed to write off Mongolia's outstanding $US2.3B debt for its share in the massive Oyu Tolgoi copper-gold project, according to PM Oyun-Erdene Luvsannamsrai, Reuters reports.