The next wave of Australian iron ore production has been confirmed with a $1.6 billion commitment to a new operation in Western Australia.
Rio Tinto and Hancock Prospecting announced today (June 24) they would make an equal investment of $800 million to develop the Hope Downs 2 iron ore project in the Pilbara region.
Rio Tinto Iron Ore Chief Executive Simon Trott said project had now received all necessary State and Federal Government approvals.
Mr Trott said two new above-water-table iron ore pits would have a combined total annual production capacity of 31 million tonnes.
“Approval of Hope Downs 2 is a key milestone for Rio Tinto, as we invest in the next generation of iron ore mines in the Pilbara,” he said.
“These projects are part of our strategy to continue investing in Australian iron ore and to sustain Pilbara production for decades to come, supporting jobs, local businesses and the state and national economies.”
Mr Trott said Rio Tinto had engaged with the Nyiyaparli, Banjima and the Ngarlawangga Peoples, along with relevant government stakeholders, to ensure the responsible management of heritage and the environment in development of the project.
He said the project included new non-process infrastructure precincts, railway crossings and haul roads, as well as realigning a six-kilometre section of the Great Northern Highway.
“Ore mined at the two sites will be transported to Hope Downs 1 for processing, with first ore from the deposits and associated infrastructure scheduled for 2027.”
Mr Trott said more than 950 jobs would be created during construction and, once operational, the Hope Downs 2 project would help sustain a workforce of about 1000 full time equivalent roles at Greater Hope Downs.
