Rio develops its Australian infrastructure PDF Print E-mail

Source: Rio Tinto                         Date: 21 September, 2011

Rio Tinto plans to invest USD 833 million in major power and fuel supply projects as part of its drive to substantially increase iron ore production capacity in Western Australia. Rio Tinto has a 48.5 percent stake in Ivanhoe Mines, which is operating at the Oyu Tolgoi copper and gold project and is the head of operations for that projectRio Tinto's integrated Pilbara power and gas network will be upgraded with a USD 520 million investment and a further USD 313 million will be allocated to fuel infrastructure. The projects are needed to support annual production capacity of 283 million tons, the company's target for 2013.This investment marks yet another significant step towards the expansion of iron ore production by 50 percent in the five years to 2015, a time line we recently brought forwards by six months,” said Sam Walsh, chief executive of Iron Ore Australia. “These projects provide certainty in meeting our power and fuel supply requirements, both now and into the future.”                                                                                                                            

 

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