Rio Tinto (50%) and Wright Prospecting (50%) have agreed to modernise the joint venture covering the Rhodes Ridge project in the East Pilbara in Western Australia, home to one of the world’s largest and highest quality undeveloped iron ore deposits. The binding joint venture updates an existing agreement between the two parties dating back to 1972 and now provides a pathway for the development of the Rhodes Ridge deposits utilising Rio Tinto’s rail, port and power infrastructure.The participants have commenced an Order of Magnitude study, conducted by Rio Tinto, which will consider the development of an operation before the end of the decade with initial plant capacity of up to 40 million tonnes annually, subject to the receipt of relevant approvals.Rhodes Ridge contains 5.8 billion tonnes of high grade Mineral Resources at an average grade of 62.3% Fe. The project’s total resource, 6.7 billion tonnes at an average grade of 61.6% Fe, represents approximately one-third of Rio Tinto’s existing Resource base in the Pilbara.1 A resource drilling program is currently underway to support future project studies.The joint venture will utilise Rio Tinto’s existing rail, port and power infrastructure, including the planned installment of 1 gigawatt of renewable power assets in the Pilbara.The Rhodes Ridge project is located 40 kilometres north-west of Newman.
Rio Tinto (50%) and Wright Prospecting (50%) have agreed to modernise the joint venture covering the Rhodes Ridge project in the East Pilbara in Western Australia, home to one of the world’s largest and highest quality undeveloped iron ore deposits. The binding joint venture updates an existing agreement between the two parties dating back to 1972 and now provides a pathway for the development of the Rhodes Ridge deposits utilising Rio Tinto’s rail, port and power infrastructure.The participants have commenced an Order of Magnitude study, conducted by Rio Tinto, which will consider the development of an operation before the end of the decade with initial plant capacity of up to 40 million tonnes annually, subject to the receipt of relevant approvals.Rhodes Ridge contains 5.8 billion tonnes of high grade Mineral Resources at an average grade of 62.3% Fe. The project’s total resource, 6.7 billion tonnes at an average grade of 61.6% Fe, represents approximately one-third of Rio Tinto’s existing Resource base in the Pilbara.1 A resource drilling program is currently underway to support future project studies.The joint venture will utilise Rio Tinto’s existing rail, port and power infrastructure, including the planned installment of 1 gigawatt of renewable power assets in the Pilbara.The Rhodes Ridge project is located 40 kilometres north-west of Newman.
