Rio Tinto has greenlighted a $77m pre-feasibility study (PFS) to advance the development of the Rhodes Ridge project, a Western Australian iron ore deposit.
The start of a PFS comes after the conclusion of an Order of Magnitude study, which assessed the establishment of an operation with an initial capacity of up to 40 million tonnes per year, subject to applicable clearances. The PFS is planned to be completed by the end of 2025, and a feasibility study will follow. The first ore from the initial phase should be available by the end of this decade.
Rio Tinto plans to invest over A$400 million in exploration over five years from 2024 to 2028 as part of ongoing study phases. The initial hub is expected to be in the northern part of the project, near existing rail infrastructure.
Rio Tinto and Wright Prospecting Pty Ltd have agreed to modernise their joint venture covering the Rhodes Ridge project last year.
The Mineral Resources at Rhodes Ridge include 6.8 billion tonnes at an average grade of 61.6% Fe, with 5.3 billion tonnes at 62.2% Fe and 0.6 billion tonnes at 63.9% Fe.
“The size and quality of the resource base at Rhodes Ridge has the potential to underpin our iron ore business in the Pilbara for decades to come. Longer term, the resource could support a world-class mining hub with a potential capacity of more than 100 million tonnes of high-quality iron ore a year,” Rio Tinto Iron Ore Chief Executive Simon Trott said.
“We are committed to working closely with the Traditional Owners, the Nyiyaparli and Ngarlawangga People, as we progress this project.”
Rio Tinto’s existing rail, port, and power infrastructure, including the planned instalment of renewable power assets in the Pilbara, will be utilised in the joint venture.
