The joint venture established to develop a new iron ore mine in the Pilbara region has been welcomed by the McGowan Government.
In a statement, the Western Australian (WA) Government said the proposed 2 billion USD joint venture between Rio Tinto and Baowu would support approximately 1,600 construction jobs and 800 ongoing operational jobs.
Premier Mark McGowan stated that the investment reflects the State Government’s efforts to attract investment, business, and long-term developments that support jobs and boost WA’s economy.
“Western Australia’s strength is being able to provide a continued stable investment environment, which is testament to our growing economy, innovative and high-technological capabilities, as well as our outstanding training opportunities and skilled workforce,” the Premier said.
The mine will have a 25 million tonne production capacity per year, and the first ore shipment is anticipated in 2025.
According to WA Minister for State Development, Jobs and Trade Roger Cook, the McGowan Government is committed to guaranteeing WA remains a secure and attractive destination for investment.
“We welcome the Western Range iron ore project for driving thousands of more local jobs and supporting more local businesses. The project is a significant investment for the resources sector and the economic future of Western Australia,” Minister Cook said.
Rio Tinto and Baowu have committed to continuing their collaboration in order to enhance environmental performance throughout the value chain of steel production.
Furthermore, Rio Tinto and the Yinhawangka Aboriginal Corporation have also collaborated on developing the Western Range project’s Social, Cultural, and Heritage Management Plan.
Meanwhile, Pilbara MLA Kevin Michel described the investment as a significant boost for workers and businesses in the Pilbara region.
“The Pilbara is one of the most important and vital regions for Australia. Investments like this with appropriate approval and consultation provide welcome opportunities for the region,” he added.
Construction on the Western Range iron ore project is anticipated to start in early 2023, subject to shareholder, regulatory, and State Agreement approvals. It will involve building a primary crusher and an 18-kilometre conveyor system connecting it to the current Paraburdoo processing plant.
