Rio Tinto to invest $1.8 bln to develop Brockman mine extension in Pilbara

Published 06/03/2025, 05:36
© Reuters

Investing.com-- Rio Tinto Ltd (ASX:RIO) said it will invest $1.8 billion to develop an extension to its Brockman mine project in West Pilbara, Western Australia, to further bolster its iron ore operations. 

Rio Tinto (NYSE:RIO) said the project had now received all necessary state and federal government approvals, as well as approvals from indigenous groups. 

“Brockman 4 produced 43 million tonnes of iron ore in 2024. Securing this project extends the life of the Brockman hub,” Rio Tinto Iron Ore CEO Simon Trott said in a statement. 

The extension is called Brockman Syncline, and will have the capacity to produce up to 34 million tonnes of iron ore per annum. First ore from the project is also due in 2027, earlier than prior estimates of 2028. Construction on the project will begin later in 2025. 

Rio said about 1,000 jobs will be created during construction, and the project will have a workforce of about 600 workers. 

The company is the world’s biggest producer of iron ore, and is moving to ramp up production to position for a potential demand rebound in top importer China.

But Rio, along with peer BHP Group Ltd (ASX:BHP), has been grappling with a prolonged downturn in iron ore prices, amid jitters over increased U.S. trade tariffs.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.