Rio will invest $749m to bring the Western Turner Syncline Phase 2 project into production from 2021
A stack reclaimer with a pile of iron ore at the Rio Tinto Parker Point ship loading terminal in western Australia. Picture: REUTERS
While the new project is aimed only at replacing output that’ll be lost from ageing pits, Rio will have options to boost volumes from its $2.6bn Koodaideri development, Chris Salisbury, iron ore CEO, said in a phone interview. The Western Turner project was accounted for under capital expenditure guidance outlined in October, he said.
“We haven’t seen significant effects of those so far in the season,” Salisbury said. “We are pleased with the level of demand at the moment.”
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