Australian iron ore giant Rio Tinto has announced that it has commenced a major sustaining capital project, spending almost $39 million (A$50 million) to replace the original stackers at the Paraburdoo mine in the Pilbara region of Western Australia, which will create almost 100 jobs as production is ramped up.
Rio Tinto stated that Italy-based equipment producer Tenova’s subsidiary Tenova TAKRAF will replace the stackers. In 46 years of operation, the old stackers have stacked just over 800 million mt of iron ore, requiring only minimal structural changes throughout that time.
Chris Salisbury, Rio Tinto Iron Ore chief executive, stated that the project is an important part of the company’s sustaining capital program for the current year and they are pleased to be supporting local businesses.
The project forms part of Rio Tinto’s broader sustaining capital program estimated at $1 billion a year over the next three years. The company is also investing in replacing depleting assets with an estimated $2.2 billion expected to be spent on replacement mines over the next three years.