Tag: Rio Tinto Iron Ore

Rio’s new Koodaideri project would feature the latest in automation. Image: Rio Tinto RIO Tinto’s Iron Ore business has a big year ahead of it, as construction at Koodaideri begins, and the benefits start to roll in from a rising iron ore price; an outcome of Vale’s recent dam disaster.   For Rio Tinto, its principal focus for the near-term was development of its $3.5 billion Koodaideri project, a replacement for depleting capacity across its Pilbara operations. Koodaideri – approved by the board late November – will be Rio’s most technologically advanced mine to date featuring a digital replica of the processing plant accessible in real time, fully integrated mine automation and simulation systems, and much more. The 43 million...

All images: Rio Tinto.   BY ELIZABETH FABRI   IRON ore continues to be a key driver for Rio Tinto, delivering more than 65 per cent of its underlying earnings in the first half of 2018. Now, with coal out of the picture, the miner has plans to grow its Pilbara business and – if the right opportunity presents itself – dip its toes in the battery metals space.   Rio Tinto has shed almost $US5 billion in assets from its portfolio over the last year, letting go of its Kestrel, Hail Creek and Winchester South coal projects in QLD, as well as one of its European aluminium smelters; Dunkerque. It’s a new era for the dual-listed Anglo-Australian miner. Coal...

All images: Rio Tinto.     BY ELIZABETH FABRI   IT capped off a strong 2017 calendar year with $US8.8 billion in profit, but Rio Tinto is increasingly focussed on reputation and its social license to operate, both here and abroad.   Rio Tinto is riding high on the back of a 90 per cent increase in net profit compared to 2016. It was a successful year on many fronts, with Rio Tinto’s iron ore division celebrating the opening of the $US338 million Silvergrass mine. Iron ore prices were also working in its favour, as China’s increased appetite for higher grade ore continues following the nation’s winter steel curtailment policy. However, like many of its peers, the company’s global ‘social...