Rio Tinto approves initial funding for Koodaireri
PERTH (miningweekly.com) – Diversified miner Rio Tinto has approved A$146-million in funding for initial works at its Koodaideri iron-ore project, in Western Australia.
The miner said on Wednesday that the funds would be invested in detailed engineering work on key elements of the project, the development of a rail construction camp, and the first stage of the accommodation camp, ahead of a final investment decision by the end of the year.
“This is an important step for our Koodaideri project which will be a significant leap forward for the global mining industry and Rio Tinto,” said iron-ore CEO Chris Salisbury.
“We’ve been building mines in the Pilbara for over 50 years, and, subject to final approvals, Koodaideri will incorporate all of that knowledge to enable us to build the smartest, safest and most efficient mine we’ve ever constructed.
“The deployment of leading edge technology will deliver a step-change in both safety and productivity for our business,” he said.
Subject to final investment and government approvals, Koodaideri will be Rio’s first intelligent mine, incorporating the latest in high-tech advances in the industry and using an increased level of automation and robotics.
It’s a large scale, low-cost, high-quality project, producing replacement tonnes and forming a new production hub for Rio in the Pilbara.
The Koodaideri lode would produce about 40-million tonnes a year by 2021, but could be expanded to yield 70-million tonnes or more at a later date.
If approved, construction is scheduled to begin in 2019 with first production expected in 2021.
The mine would create over 2 000 jobs during construction and 600 permanent operational roles.
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