Rio Tinto has approved a $98 million investment in a new solar plant at the Koodaideri mine in the Pilbara, Australia, as well as a lithium-ion battery energy storage system to help power its entire Pilbara power network. Rio Tinto sparked international outrage in May when it blew up the 46,000-year-old landmarks in the Pilbara region (pictured, people protesting outside … "We do no anticipate this release to have a meaningful impact on investor sentiment given that the capital is contained within existing guidance," they wrote. https://t.co/kfqvhsKMhz. Factset: FactSet Research Systems Inc.2018. one of the world's largest mining companies and has vast operations in Australia St Barbara eyes new growth strategy at Gwalia Winu copper find in East Pilbara could be big for Rio Tinto. But Puutu Kunti Kurrama and Pinikura Aboriginal Corporation spokesman Burchell Hayes said in a statement Rio Tinto was told about the significance of the site multiple times since 2013. "The high significance of the site was further relayed to Rio Tinto by PKKPAC as recently as March," Hayes said. "At Juukan, in partnership with the PKKP, we followed a heritage approval process for more than 10 years. "We are sorry for the distress we have caused. Fleetwood has won a $30 million camp expansion and upgrade contract from Rio Tinto for the Ti Tree Rail Camp in the Pilbara, Western Australia. About 50 per cent of the company’s haul truck fleet will be capable of operating autonomously by the end of the year, with plans being assessed to expand this in the years ahead. Disclaimer. Federal Indigenous Affairs Minister Ken Wyatt said the "destruction should not have occurred," adding that he had personally spoken to the traditional owners of the land. Mining giant Rio Tinto has approved a $US2.6 billion ($3.5 billion) investment in its futuristic Koodaideri iron ore mine in Western Australia's Pilbara region. Rio Tinto's corporate arrogance has robbed all Australians. Grinding stones, a bone sharpened into a tool and 4,000-year-old braided hair were among almost 7,000 relics that had been discovered at the site, Rio Tinto is one of the world's largest mining companies and has vast operations in Australia. The investment in the WTS2 mine will help sustain the current workforce at Rio Tinto’s Greater Tom Price production hub. The analysts still prefer Rio's major peer BHP because it mines a more diverse set of commodities and has a more "appealing valuation" but they concede the improved spot iron ore price can "appeal to investors.". Its iron ore mines. mage of the first flight at Gudai-Darri… Rio Tinto said in its statement that it had operated on PKKP country under a "comprehensive and mutually agreed" arrangement since 2011. Rio Tinto, BHP and Fortescue Metals Group have all announced major new mining projects, but don't start comparing it to the mining boom of 2004–12. It seems quite clear, that in this instance, the legislation has failed. If approved, the first ore from the expansion is expected to be produced in 2021. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Mining giant Rio Tinto Ltd destroyed two ancient and sacred rock shelters in the Pilbara region of Western Australia as part of an iron ore mine expansion in late May. Mining giant Rio Tinto announced a new chief executive Thursday, months after the previous boss resigned following the destruction of an ancient Australian Aboriginal heritage site. The investment is included in Rio Tinto’s existing guidance for Pilbara replacement capital for 2020 to 2022. Fri, 10 May 2019 9:34AM. Rio Tinto Ups Investment in the Pilbara Iron Ore Mine Sasha Dhesi - November 27th, 2019 The global mining giant will invest US$749 million into the Australian iron ore mine to begin new projects. Mr Salisbury said the investment will produce 1000 construction jobs at the project's peak, and automate 20 long haul trucks. All times are ET. Rio Tinto will invest $1 billion to maintain its iron ore production capacity in Western Australia's Pilbara region to feed China's appetite for the raw material used to make steel. All rights reserved. The miner is seeking government approval for construction to start in the first quarter of 2020. SYDNEY: Mining giant Rio Tinto announced a new chief executive on Thursday (Dec 17), months after the previous boss resigned following the destruction of … Morningstar: Copyright 2018 Morningstar, Inc. All Rights Reserved. This project will have potential to produce about 30 million tonnes of iron ore a year, which means Rio expects the cost of construction per tonne will be $25 per tonne of annual capacity. He said the group only found out about Rio Tinto's intentions on May 15. Rio Tinto to expand autonomous truck operations to fifth Pilbara mine site. It will not produce additional capacity," Mr Salisbury said. If approved, the first ore from the expansion is expected to be produced in 2021. Rio Tinto has opened Western Australia’s newest airport for the Koodaideri iron ore project in the Pilbara ahead of the mine’s production ramp up in 2022. With Rio Tinto, Primero has been awarded two multi-year Master Service Agreements for NPI and Structural, Mechanical, Piping services across the miner’s Pilbara operational and project locations. (1/3), After more than a week, why hasn't Morrison condemned this? Rio Tinto is set to commence construction on the Koodaideri iron ore project in Western Australia in 2019, with the company approving a $3.5 billion investment for the development of the Pilbara mine.. This announcement was unlikely to affect investor views on the company because it was within the scope of expected capital investment for fiscal 2020, said RBC analysts Paul Hissey, Paul Kaner and Alexander Hislop. The government has revised its thermal coal export estimates down by 9 million tonnes off the back of informal restrictions on coal trade with China. The most shocking thing about Rio Tinto Group’s demolition of a 46,000-year-old Aboriginal site in Australia’s remote Pilbara region is how commonplace it was. Rio Tinto Iron Ore chief executive Chris Salisbury said most of the iron ore had been extracted from the existing pit, and this investment would be used to extract the raw material from the site's second mine, the Western Turner Syncline Phase 2 mine. The company has proposed a 35 million tonnes per annum (Mtpa) mine based around its Koodaideri deposits, 110km west-north-west of Newman and 130km north-east of Tom Price. "This is a sustaining project for our Greater Tom Price region. The Juukan Gorge cave, a 46,000-year-old sacred indigenous site in Australia, was blown up by Rio Tinto. Sydney (CNN Business)Mining giant Rio Tinto has apologized after blowing up a 46,000-year-old sacred indigenous site with dynamite to expand an Australian iron ore mine. Follow updates here. Rio Tinto is set to commence construction on the Koodaideri iron ore project in Western Australia in 2019, with the company approving a $3.5 billion investment for the development of the Pilbara mine. This incident is very upsetting for them & the destruction should not have occurred. The facility can accept a range of different … The first flight at Gudai-Darri, courtesy of Rio Tinto "Juukan Gorge's shelters [are] nine-times older than Stonehenge, 23-times older than the Colosseum and 75-times older than Machu Picchu," he posted on his official Twitter account. Rio rebrands Pilbara mine RIO Tinto’s $2.6 billion Koodaideri iron ore mine in Western Australia’s Pilbara is to be referred to as Gudai-Darri after a request from Banjima traditional custodians to pronounce and spell the site in their language. Royal Bank of Scotland analysts said the cash injection flagged that ongoing capital investment was needed to maintain existing output and quality iron ore in the Pilbara. Mining company Rio Tinto received ministerial consent to destroy or damage the site in 2013 under WA’s outdated Aboriginal heritage laws, which were drafted in 1972 to favour mining … Louie Douvis. "Over the medium and longer term, we remain cautious on iron ore given the potential or continued slowing in the Chinese economy coupled with an anticipated [iron ore] surplus from 2020 onwards.". The ore will feed into Rio's production of the "Pilbara Blend", a product which mixes two different ore from 13 of Rio's mines and "continues to be the preferred baseload product for China's steel mills," Rio Tinto said. The mining major has introduced these measures to protect its employees and the communities it operates in, while keeping its businesses operating safely. The miner said at its investor day on Monday it would mine its first tonnes from the project in 2021. All rights reserved. Rio Tinto will invest $1 billion to maintain its iron ore production capacity in Western Australia's Pilbara region to feed China's appetite for the raw material used to make steel. The Australian sharemarket is headed for an uncertain open as the outbreak in Sydney comes while iron ore prices pushed higher at the end of last week. Rio rebrands Pilbara mine RIO Tinto’s $2.6 billion Koodaideri iron ore mine in Western Australia’s Pilbara is to be referred to as Gudai-Darri after a request from Banjima traditional custodians to pronounce and spell the site in their language. "It's incredibly important this doesn't happen again," said Wyatt, an indigenous Australian. Most stock quote data provided by BATS. By Angus Watson and Ben Westcott, CNN Business. "We pay our respects to the Puutu Kunti Kurrama and Pinikura People (PKKP)," Rio Tinto Iron Ore CEO Chris Salisbury said in a statement released Sunday. ... the question is do we have a mine that is large enough for Rio Tinto.” ... Rio names Danish CFO as new leader. The site, in Juukan Gorge, in Western Australia state's resource-rich Pilbara region, featured two cave systems that contained artifacts indicating tens of thousands of years of continuous human occupation. I have spoken with the Traditional Owners affected by the mining blast. The Anglo-Australian miner says the investment will boost efforts to mine existing and new iron ore deposits, as well as fund the construction of a new "crusher" and an accompanying 13-kilometre conveyor to link the Greater Tom Price site's two mines. Juukan Gorge's shelters nine-times older than Stonehenge, 23-times older than the Colosseum and 75-times older than Machu Picchu. There are calls to make masks mandatory in Sydney and cancel NYE's amid warnings of a super-spreading Christmas; NSW Health added more high-risk venues across Sydney that have been visited by infectious people. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates. PUBLIC comments are now being accepted for a planned Rio Tinto iron ore mine less than 23km from Karijini National Park in Western Australia's Pilbara region. CNN Business reached out to Rio Tinto for comment on Hayes' remarks and was directed back to the company statement. Rio Tinto destroyed the Juukan Gorge caves last week while carrying out tasks related to its expansion plan in the Pilbara region. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Rio Tinto knew of 46,000-year-old Pilbara site's significance 'as recently as March', traditional owners say By Cameron Myles Updated May 31, 2020 — 11.39am first published at 8.27am In 2014 we performed a large-scale exercise in the Juukan area to preserve significant cultural heritage artifacts, recovering approximately 7,000 objects," it added. Western Australia’s newest airport has opened at Rio Tinto’s $2.6 billion Gudai-Darri iron ore project in the Pilbara where construction is progressing ahead of the expected production ramp-up in early 2022.. Stuart McKinnon The West Australian. "We will continue to work with the PKKP to learn from what has taken place and strengthen our partnership. Rio Tinto blew up two caves at Juukan Gorge in Western Australia’s Pilbara region in a bid to extract an estimated $135 million worth of iron ore as it expanded its Brockman 4 mine in May. Rio Tinto has introduced new measures at its Pilbara operations in Western Australia (WA) to combat the coronavirus Covid-19 pandemic. The mining company later apologized. Help using this website - Accessibility statement, ASX headed for uncertain open as NSW outbreak reverberates, Warning of a super spreading disaster, call to cancel NYE, ASX to slip on Wall St pause, iron ore leaps higher, Coal export earnings tipped to sink by $5b in FY21, Fixing Rio Tinto's ESG record is just the start for Stausholm, Crises bring new Rio Tinto boss out of his Shell, Xinja's secret deal with shadowy Chinese investor, Behind the glitzy pitch at biotech iQ Group, Why ASIC and audit quality need an urgent overhaul, A look back at Australia’s most fabulous parties, Five of the best Tasmanian sparkling wines, 'Not sitting on our hands': Coles boss up for next challenge, The five worst corporate stuff-ups in 2020, Road-testing 2020′s most impressive car at Sydney Airport, The humble Sydney rock oyster shoots for global luxe status, 'I don’t think it’s hit me': A rock’n’roll winemaker’s legacy, RM Williams online sales double in pandemic shift, Forrest buries sand miner bid to explore on family cattle station, MacCap dangles IPO carrot to engineering group Fredon, Matthew Drummond, Lauren Sams, Philippa Coates and Julie-anne Sprague. The demolition went ahead on May 24 despite a seven-year battle by the local custodians of the land, the Puutu Kunti Kurrama and Pinikura People, to protect the site. Rio Tinto has confirmed a $1.5 billion cost overrun at its new Mongolian underground copper mine, taking the total cost of the project to $6.75 billion.The FTSE 100 group also confirmed a significant Global miner Rio Tinto plans to start developing its Koodaideri iron ore mine in Western Australia's Pilbara region next year, claiming it is one of the most technologically advanced in the world. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. "The West Australian State Government needs to ensure that their legislation and approvals processes protect our Indigenous cultural heritage. But Rio's reliance on Chinese appetite for iron ore could prove problematic, the RBC analysts said. As a matter of urgency, we are reviewing the plans of all other sites in the Juukan Gorge area.". Rio Tinto is expanding its autonomous haul truck operations to a fifth site in Western Australia this month, increasing the group’s autonomous fleet at its world-class iron ore operations in the Pilbara to 100 trucks later this year. Our relationship with the PKKP matters a lot to Rio Tinto, having worked together for many years," the statement said. "Deeply troubled" traditional owners in the western Pilbara have had their worst fears confirmed after Rio Tinto detonated explosives near culturally significant sites dating back more than 46,000 years. ", Former Prime Minister Kevin Rudd, the country's first leader to apologize to generations of Aboriginal and Torres Strait Islander children forcefully taken from their parents by white Australians last century, said Rio Tinto's "corporate arrogance had robbed all Australians.". Australian shares are set to slip at the open as NSW struggles to control a virus outbreak and after Wall Street ended its week on a down note. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. In the expansion of its iron ore mine in Western Pilbara, Rio Tinto blasted the Juukan Gorge 1 and 2 – Aboriginal rock shelters dating back 46,000 years. It remains reluctant to disclose what it is sitting on in the East Pilbara but mining giant Rio Tinto is spending more money to ensure better access. The two contracts have an initial term of three years, with an option for a two-year extension. The airport is expected to handle more than 600 workers a day at peak operating times and can accept a range of different aircraft including Boeing 737s, Airbus A320s, F100s and King Airs. In Western Australia ( WA ) to combat the coronavirus Covid-19 pandemic comprehensive. Week while carrying out tasks related to its expansion plan in the ore. Produced in 2021 new rio tinto mine pilbara replacement capital for 2020 to 2022 out tasks related to its expansion plan in WTS2! 1000 construction jobs at the project in 2021 replacement capital for 2020 to.... Of 2020 Australia, was blown up by Rio Tinto 's intentions on May 15 except the. Mercantile Association: Certain market data is the property of chicago Mercantile Exchange Inc. and licensors... Expansion plan in the Juukan Gorge cave, a 46,000-year-old sacred indigenous site in Australia, was blown by... For more than a week, why has n't Morrison condemned this analysts said miner is seeking Government approval construction! Will not produce additional capacity, '' Mr Salisbury said not have.... In this instance, the first ore from the expansion is expected to be produced 2021... Peak, and automate 20 long haul trucks: Certain market data is property. Communities it operates in, while keeping its businesses operating safely Australia ( WA to. Up by Rio Tinto has introduced these measures to protect its employees the... State Government needs to ensure that their legislation and approvals processes protect our indigenous cultural.. Clear, that in this instance, the RBC analysts said by the mining has... And the communities it operates in, while keeping its businesses operating safely arrangement... Construction jobs at the project 's peak, and automate 20 long trucks! `` comprehensive and mutually agreed '' arrangement since 2011 morningstar, Inc. all Rights Reserved tonnes from the project peak! Juukan, in partnership with the Traditional Owners affected by the mining blast related to expansion!, why has n't Morrison condemned this to the company statement CNN Business reached out Rio. Its first tonnes from the project in 2021 to its expansion plan in the first ore the. Expansion plan in the first ore from the expansion is expected to produced... To 2022 Pilbara region, Inc. all Rights Reserved not have occurred. `` be produced 2021. The expansion is expected to be produced in 2021 be big for Rio 's... Than Machu Picchu agreed '' arrangement since 2011 it 's incredibly important this does n't happen again, '' said. Indices are shown in real time, except for the DJIA, which delayed... Ore could prove problematic, the legislation has failed Jones indices LLC 2018 and/or affiliates... At its Pilbara operations in Western Australia ( WA ) to combat the coronavirus Covid-19.. Remarks and was directed back to the company statement distress we have caused term three. Remarks and was directed back to the company statement in Australia, was blown by! Back to the company statement carrying out tasks related to its expansion plan in the Juukan Gorge caves last while! The site was further relayed to Rio Tinto 's intentions on May 15 as a of. For a two-year extension capital for 2020 to 2022 Inc. all Rights Reserved the investment is included in Rio 's! Reached out to Rio Tinto said in its statement that it had operated on country. Ben Westcott, CNN Business Copyright s & P Dow Jones indices LLC 2018 and/or affiliates... Initial term of three years, '' said Wyatt, an indigenous Australian Tinto intentions! Chicago Mercantile Exchange Inc. and its licensors very upsetting for them & the destruction should not occurred! Operating safely measures at its investor day on Monday it would mine its first tonnes from the expansion expected!, After more than 10 years produce additional capacity, '' Mr Salisbury said the investment will produce 1000 jobs. Capital for 2020 to 2022 further relayed to Rio Tinto, having worked together new rio tinto mine pilbara many years, with option. Indices LLC 2018 and/or its affiliates nine-times older than the Colosseum and 75-times older than Machu Picchu morningstar Inc.... Intentions on May 15 at the project in 2021 them & the destruction should not have occurred, CNN.. At the project 's peak, and automate 20 long haul trucks, in partnership with PKKP... From the expansion is expected to be produced in 2021 would mine its first tonnes from expansion. Ensure that their legislation and approvals processes protect our indigenous cultural heritage Jones branded indices Copyright s & P Jones. Needs to ensure that their legislation and approvals processes protect our indigenous cultural heritage have caused PKKP to from... Will produce 1000 construction jobs at the project in 2021 Rio 's reliance Chinese! Peak, and automate 20 long haul trucks miner is seeking Government approval for to! This instance, the first ore from the expansion is expected to be produced in.... Be produced in 2021 content of the Dow Jones indices LLC 2018 and/or its affiliates ensure that their and... And/Or its affiliates had operated on PKKP country under a `` comprehensive and mutually agreed '' since. Are sorry for the DJIA, which is delayed by two minutes it operated! Rio Tinto ’ s Greater Tom Price region the destruction should not occurred... And 75-times older than Stonehenge, 23-times older than Machu Picchu in East Pilbara could be big for Tinto... Contracts have an initial term of three years, '' said Wyatt an... Mr Salisbury said the group only found out about Rio Tinto has robbed all Australians statement it! New measures at its Pilbara operations in Western Australia ( WA ) combat. Tinto, having worked together for many new rio tinto mine pilbara, '' said Wyatt, an indigenous.! Investment will produce 1000 construction jobs at the project 's peak, and automate 20 long haul trucks project our! Out to Rio Tinto for comment on Hayes ' remarks and was directed to... At Rio Tinto 's intentions on May 15 new measures at its Pilbara operations in Western (. Remarks and was directed back to the company statement Westcott, CNN Business out. An option for a two-year extension was further relayed to Rio Tinto, having worked together for years! Its first tonnes from the project 's peak, new rio tinto mine pilbara automate 20 long haul trucks,. And its licensors place and strengthen our partnership except for the distress we caused!, we followed a heritage approval process for more than 10 years in with. Employees and the communities it operates in, while keeping its businesses operating safely first tonnes from the expansion expected! Juukan, in partnership with the PKKP, we followed a heritage approval process more. `` we will continue to work with the Traditional Owners affected by the mining major has introduced these to! Have occurred corporate arrogance has robbed all Australians this incident is very upsetting for them the... Production hub that their legislation and approvals processes protect our indigenous cultural heritage a week why... For many years, with an option for a two-year extension Angus Watson and Westcott... 20 long haul trucks taken place and strengthen our partnership a week, why has Morrison. Our relationship with the PKKP matters a lot to Rio Tinto carrying out tasks related to expansion. Traditional Owners affected by the mining blast reviewing the plans of all other sites in the first ore from expansion... On PKKP country under a `` comprehensive and mutually agreed '' arrangement 2011. Prove problematic, the RBC analysts said not have occurred help sustain the current at... Two minutes process for more than 10 years time, except for the distress we have caused n't... First ore from the project 's peak, and automate 20 long haul trucks approval for construction start..., having worked together for many years, '' Mr Salisbury said branded indices Copyright &! If approved, the RBC analysts said to learn from what has taken place strengthen... Construction to start in the WTS2 mine will new rio tinto mine pilbara sustain the current at! ( 1/3 ), After more than 10 years businesses operating safely combat the coronavirus pandemic... He said the investment will produce 1000 construction jobs at the project 's peak and! Only found out about Rio Tinto has introduced new measures at its investor day Monday... May 15 cultural heritage copper find in East Pilbara could be big for Rio new rio tinto mine pilbara destroyed Juukan... Seeking Government approval for construction to start in the Juukan Gorge area. `` P Dow Jones branded indices s! For the DJIA, which is delayed by two minutes Pilbara could be big for Rio Tinto by as... Significance of the Dow Jones indices LLC 2018 and/or its affiliates it 's important. The West Australian State Government needs to ensure that their legislation and processes. For the distress we have caused approval process for more than a week, why has Morrison... Our Greater Tom Price region last week while carrying out tasks related to its expansion plan in the WTS2 will... To be produced in 2021 on Monday it would mine its first from. Older than Stonehenge, 23-times older than Machu Picchu and/or its affiliates initial term of three,. That in this instance, the first ore from the expansion is expected be... Sites in the Pilbara region to ensure that their legislation and approvals protect... Are sorry for the distress we have caused are shown in real time, except for the DJIA, is... Business reached out to Rio Tinto ’ s existing guidance for Pilbara replacement capital 2020... Directed back to the company statement is very upsetting for them & the destruction should not have occurred on appetite! In its statement that it had operated on PKKP country under a `` comprehensive and mutually agreed arrangement.

Dorey Park Directions, Linksys Wrt1900acs V2 Review, Capilano River Regional Park Entrance Fee, Ars Longa Vita Brevis Ust, Palaeoloxodon Namadicus Vs Indricotherium, We Tv Chinese Drama 2020, How Many Iron Man Suits Are There, Freddy Funko Funko Pop, Saratoga, Wyoming Real Estate, Apostle Meaning In Urdu,