The green light has been given for a feasibility study on the first phase of the Rhodes Ridge project in Western Australia’s Pilbara region.
Rio Tinto described the Rhodes Ridge project as one of “the world’s best undeveloped iron ore deposits”, and now work is underway for the $191 million study. The works will assess the development of an iron ore operation producing 40 to 50 million tonnes initially.
The feasibility study is expected to conclude by 2029 with the joint venture partners, including Rio Tinto (50 per cent), Mitsui (40 per cent) and AMB Holdings (10 per cent) expected to invest around $146 million on exploration between 2026 and 2028 in future study phases.
“In partnership with the Nyiyaparli Traditional Owners, we are working to develop Rhodes Ridge, which, given its size and quality, has the potential to underpin Rio Tinto’s Pilbara iron ore business for decades to come,” Rio Tinto chief executive of iron ore Matthew Holcz said.
“Earlier this year the joint venture welcomed Mitsui into the project, confirming Rhodes Ridge as one of the best undeveloped iron deposits in the world. We’re excited to keep working with all our partners as we progress the feasibility study.”