Rio Tinto and partners to invest $733 million in Pilbara iron ore project

(Reuters) -Rio Tinto said on Tuesday it will invest $733 million, alongside joint venture partners Mitsui Iron Ore and Nippon Steel, to develop new iron ore deposits at the West Angelas hub in Western Australia's Pilbara region. Rio Tinto, which holds a $389 million share of the investment, said the West Angelas Sustaining project will maintain the hub's annual production capacity at 35 million tonnes, extending mining operations for several years. The construction will create about 600 jobs, while around 950 full-time roles will be sustained once the project becomes operational. The company expects to mine its first ore in 2027. Mining major Rio added the project forms part of a suite of replacement iron ore developments across Pilbara, supporting a total capacity of around 130 million tonnes per annum. (Reporting by Roshan Thomas in Bengaluru; Editing by Shailesh Kuber)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)