Australian iron ore producer Rio Tinto has announced that it will invest $749 million in its Greater Tom Price iron ore operations in Pilbara, Western Australia, to help sustain production capacity.
This investment will facilitate mining of existing and new deposits and includes construction of a new crusher as well as a 13-kilometre conveyor. The new conveyor system will help lower greenhouse gas emissions from the mine by 3.5 percent and will be using renewable energy solutions.
After receiving the required approvals from the government, construction will start in the first quarter of 2020, while the first iron ore production is scheduled in 2021.
The company’s iron ore chief executive Chris Salisbury said this investment will reduce production costs and “will underpin production of the company’s flagship Pilbara Blend product well into the future”.