Rio Tinto invests $1.8 billion to expand ore production in Australia

The British-Australian mining concern Rio Tinto is investing $1.8 billion in the development of the Brockman Syncline1 (BS1) project, located near the operating Brockman 4 mine in Western Australia. This is stated in the company’s announcement.

The project has now received all the necessary permits from the state and federal governments and was developed in consultation with traditional owners.

BS1 is a large-scale investment in the Brockman region. First ore from the mine is scheduled for 2027 (previously expected to be in 2028).

The project is starting this year and includes the installation of a new primary crusher and an overland conveyor, as well as a section of non-industrial infrastructure.

According to Rio Tinto Iron Ore CEO Simon Trott, Brockman 4 produced 43 million tons of iron ore last year. The company forecasts that BS1 will produce 34 million tons of this raw material per year. The project extends the life of the Brockman unit.

As GMK Center reported earlier, Rio Tinto has forecast an increase in iron ore production by 15 million tons in the period 2023-2025. The company’s key focus is the Simandou project in Guinea, which it plans to launch in 2025. At the same time, the production targets for the Pilbara region (Australia) remain unchanged – between 323 and 338 million tons of iron ore in 2025. This region will also be the basis for the implementation of a safe production system, which will help to gradually improve the efficiency of operations.