Rio Tinto reinvests $338m in Pilbara
Mining giant, Rio Tinto announced that it will be investing $338 million in Pilbara. This move to reinvest will complete the development of Rio Tinto’s Silvergrass iron ore mine.
The final development stage for Silvergrass will include replacing road haulage with a primary crusher and a nine kilometre conveyor that will connect the mining area to Rio Tinto’s existing processing facility in Nammuldi. Ultimately, this investment will help lower the mine’s operating cost.
Silvergrass Mine (source: Australian Mining)
“We are committed to disciplined capital allocation and the approval of the final phase of the Silvergrass development, which is one of the most value-accretive projects across the mining industry, delivers high-quality, low-cost growth that will underpin future returns to shareholders.” – Jean-Sebastien Jacques, Rio Tinto Chief Executive
At this stage, the Silvergrass development is in the process of obtaining the necessary approvals from the West Australian Government.
Watch this space for more updates on this project. Subscribe to the PlantMiner newsletter today and receive industry news and project updates straight to your inbox.
Source: Rio Tinto and Australian Mining
Recent Articles
New milestones marked for key 2032 Brisbane Olympic & Paralympic Games venues
The delivery of key 2032 Brisbane Olympic and Paralympic Games venues as well as generational infrastructure is steadily gaining momentum in just 12 months after the Queensland Government released the 2032 Delivery Plan.
Redevelopment of Macquarie Point Precinct in Hobart a step closer to reality
The Australian Government has accepted the Macquarie Point Precinct Master Plan and Housing Plan – two key plans that will ultimately revitalise Macquarie Point in Hobart, Tasmania.
Major repairs underway on QLD Gillies Range Road
Major reconstruction works on Gillies Range Road in Far North Queensland are now underway on sections that have been damaged by the Tropical Cyclone Jasper as well as the severe flooding that followed.