Tags: iron ore , raw mat , Australia , Oceania , Rio Tinto , investments , mining | similar articles »

Australia-based mining giant Rio Tinto has announced that it will invest a further $3.4 billion in the major expansion of its Pilbara iron ore operations in Western Australia.
 
The investment will include the funding to extend the life of the Nammuldi iron ore mine and the funding for Cape Lambert port and rail early works needed for the proposed capacity expansion to 353 million mt per year.  The funding allocated for the Nammuldi iron ore mine has enabled the project to increase production capacity in the Pilbara to 283 million mt per year to be approved.
 
According to Rio Tinto's statement, new iron ore production is being launched in line with the forecast for Asian demand to grow strongly. First iron ore production from the Nammuldi expansion will be delivered in the third quarter of 2014.