According to Australian mining company Rio Tinto, the Rhodes Ridge joint venture has approved a $191 million (AUD$294 million) feasibility study to advance the first phase of the Rhodes Ridge iron ore project in the Pilbara region of Western Australia, one of the world's largest undeveloped iron ore deposits.
Rio Tinto has stated that a feasibility study will evaluate the development of a facility with an initial annual production capacity of 40-50 million tons of iron ore. The study represents the next step towards the potential development of the project and is scheduled to be completed in 2029.
The joint venture plans parallel investments
According to Rio Tinto, the joint venture partners also plan to invest an additional US$ 146 million (AUD$225 million) in exploration activities between 2026 and 2028, supporting the current assessment phases along with the feasibility study. research.
The Rhodes Ridge project belongs to the Rhodes Ridge joint venture, which includes Rio Tinto (50%), Mitsui (40%) and AMB Holdings (10%). The move to the feasibility study stage followed Mitsui's earlier announcement of acquiring a 40 percent stake in the project, as previously reported by SteelOrbis.
Project development approach and infrastructure
Rio Tinto explained that Rhodes Ridge will be developed in stages, with ongoing investments focused solely on the first phase. The initial development center is expected to be located in the northern part of the project area. The joint venture intends to leverage Rio Tinto's existing rail, port and energy infrastructure in the Pilbara, reducing capital intensity and supporting integration into the company's broader iron ore network.
