According to Australian miner Rio Tinto, the Rhodes Ridge Joint Venture has approved a $191 million (A$294 million) feasibility study to advance the first phase of the Rhodes Ridge iron ore project in Western Australia’s Pilbara region, one of the world’s largest undeveloped iron ore deposits.
Rio Tinto stated that the feasibility study will assess the development of an operation with an initial annual production capacity of 40-50 million mt of iron ore. The study represents the next step in progressing the project toward potential development and is scheduled to conclude in 2029.
Joint venture plans parallel investments
According to Rio Tinto, the joint venture partners also plan to invest an additional $146 million (A$225 million) in exploration activities between 2026 and 2028, supporting ongoing evaluation phases alongside the feasibility study.
The Rhodes Ridge project is owned by the Rhodes Ridge Joint Venture, comprising Rio Tinto (50%), Mitsui (40%) and AMB Holdings (10%). The move to the feasibility stage follows Mitsui’s earlier announcement of its acquisition of a 40 percent stake in the project, as previously reported by SteelOrbis.
Project development approach and infrastructure
Rio Tinto explained that Rhodes Ridge will be developed in stages, with the current investment focused exclusively on phase one. The initial development hub is expected to be located in the northern section of the project area. The joint venture intends to leverage Rio Tinto’s existing rail, port and power infrastructure in the Pilbara, reducing capital intensity and supporting integration into the company’s broader iron ore network.