Anglo-Australian mining giant Rio Tinto has announced the finalization of the Dampier Port upgrade project in Western Australia which cost a total of $1.4 billion.
As a result of the two-phase expansion, the capacity at the port, which is used to ship iron ore from the company's Pilbara operations, has been raised by 90 percent over four years, from the previous level of 74 million mt to the current capacity of 140 million mt.
In a statement on the issue, Rio Tinto said, "The installation of the two new ship loaders at the Parker Point wharf allows two vessels to be loaded simultaneously and a 600-m extension of the wharf allows up to four vessels to be berthed at the same time, reducing ship waiting time".
The company also added that they are investing in order to take advantage of the strong demand growth in the global market, particularly in China.
As previously reported, Rio Tinto had outlined a conceptual plan to increase its iron ore production to 600 million mt per annum, in a move to justify its rejection of BHP Billiton's takeover offer.