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Rio Tinto reinvests $338m in Pilbara

News, Projects

Posted by Monica Gameng

Mining giant, Rio Tinto announced that it will be investing $338 million in Pilbara. This move to reinvest will complete the development of Rio Tinto’s Silvergrass iron ore mine.

The final development stage for Silvergrass will include replacing road haulage with a primary crusher and a nine kilometre conveyor that will connect the mining area to Rio Tinto’s existing processing facility in Nammuldi. Ultimately, this investment will help lower the mine’s operating cost.

Silvergrass mine in PilbaraSilvergrass Mine (source: Australian Mining)

“We are committed to disciplined capital allocation and the approval of the final phase of the Silvergrass development, which is one of the most value-accretive projects across the mining industry, delivers high-quality, low-cost growth that will underpin future returns to shareholders.” – Jean-Sebastien Jacques, Rio Tinto Chief Executive

At this stage, the Silvergrass development is in the process of obtaining the necessary approvals from the West Australian Government.

Watch this space for more updates on this project. Subscribe to the PlantMiner newsletter today and receive industry news and project updates straight to your inbox.

Source: Rio Tinto and Australian Mining

Monica Gameng

Monica Gameng

As PlantMiner's Marketing Assistant since 2015, Monica is responsible for researching and sharing new and progressing projects within the construction and mining sectors in Australia. It's no surprise that Monica has her finger on the pulse of Australian major projects given she has produced more than 1000 posts. She truly is an industry expert. Monica's passion for educating and inspiring readers saw the PlantMiner blog recognised by Feedspot as one of the Best Australian Construction Blogs in 2018 and 2019. PlantMiner is Australia's largest online construction marketplace. Sign up as a vendor to find and engage with civil and commercial contractors across Australia. Alternatively, if you're looking for plant and equipment you can compare equipment and subcontractor quotes from vendors near you in just a few steps.