The Western Australian Government has given the green light to a joint venture between Rio Tinto and Wright Prospecting to develop the Rhodes Ridge deposits in the Pilbara region.
Rhodes Ridge is home to one of the world’s largest and highest quality undeveloped iron ore deposits, with a total resource of 6.7 billion tonnes.
The project is expected to create thousands of jobs and has the potential to underpin production of Rio Tinto’s iron ore in years to come.
“We welcome the Rhodes Ridge project and the opportunities it will bring to Western Australia,” WA Premier Mark McGowan said.
“This again reinforces our State’s strength as an ideal location for business and investment which will grow our economy, further contributing to record sales in our resources sector and investment in infrastructure.”
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The project will focus on climate, biodiversity, and heritage, with existing rail, port and power infrastructure to be used. It also includes the planned instalment of one gigawatt of renewable power assets in the Pilbara.
Rio Tinto and Wright Prospecting will work closely with Traditional Owners, the Nyiyaparli and Ngarlawangga People, to ensure sites of significant cultural, environmental, and biodiversity value are protected as part of any future development at Rhodes Ridge.
State Development, Jobs and Trade Minister Roger Cook said the benefits of this project will extend beyond the Pilbara region in creating thousands of jobs.
“We’re committed to ensuring we continue to position ourselves as a secure and attractive destination for investment and employment,” he said.
Pilbara MLA Kevin Michel said the region is the beating heart of WA’s resources industry.
“This announcement follows the recent Western Range joint venture and shows the welcomed opportunities for workers and businesses,” Michel said.