Morningstar: Copyright 2018 Morningstar, Inc. All Rights Reserved. Winu copper find in East Pilbara could be big for Rio Tinto. Rio Tinto's corporate arrogance has robbed all Australians. The miner said at its investor day on Monday it would mine its first tonnes from the project in 2021. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. SYDNEY: Mining giant Rio Tinto announced a new chief executive on Thursday (Dec 17), months after the previous boss resigned following the destruction of … All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates. "We do no anticipate this release to have a meaningful impact on investor sentiment given that the capital is contained within existing guidance," they wrote. The airport is expected to handle more than 600 workers a day at peak operating times and can accept a range of different aircraft including Boeing 737s, Airbus A320s, F100s and King Airs. Rio Tinto sparked international outrage in May when it blew up the 46,000-year-old landmarks in the Pilbara region (pictured, people protesting outside … Mining giant Rio Tinto Ltd destroyed two ancient and sacred rock shelters in the Pilbara region of Western Australia as part of an iron ore mine expansion in late May. Mr Salisbury said the investment will produce 1000 construction jobs at the project's peak, and automate 20 long haul trucks. "Juukan Gorge's shelters [are] nine-times older than Stonehenge, 23-times older than the Colosseum and 75-times older than Machu Picchu," he posted on his official Twitter account. The Anglo-Australian miner says the investment will boost efforts to mine existing and new iron ore deposits, as well as fund the construction of a new "crusher" and an accompanying 13-kilometre conveyor to link the Greater Tom Price site's two mines. All times are ET. The company has proposed a 35 million tonnes per annum (Mtpa) mine based around its Koodaideri deposits, 110km west-north-west of Newman and 130km north-east of Tom Price. "This is a sustaining project for our Greater Tom Price region. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Louie Douvis. It remains reluctant to disclose what it is sitting on in the East Pilbara but mining giant Rio Tinto is spending more money to ensure better access. Factset: FactSet Research Systems Inc.2018. Rio Tinto has confirmed a $1.5 billion cost overrun at its new Mongolian underground copper mine, taking the total cost of the project to $6.75 billion.The FTSE 100 group also confirmed a significant The analysts still prefer Rio's major peer BHP because it mines a more diverse set of commodities and has a more "appealing valuation" but they concede the improved spot iron ore price can "appeal to investors.". "Over the medium and longer term, we remain cautious on iron ore given the potential or continued slowing in the Chinese economy coupled with an anticipated [iron ore] surplus from 2020 onwards.". Federal Indigenous Affairs Minister Ken Wyatt said the "destruction should not have occurred," adding that he had personally spoken to the traditional owners of the land. The most shocking thing about Rio Tinto Group’s demolition of a 46,000-year-old Aboriginal site in Australia’s remote Pilbara region is how commonplace it was. Rio Tinto blew up two caves at Juukan Gorge in Western Australia’s Pilbara region in a bid to extract an estimated $135 million worth of iron ore as it expanded its Brockman 4 mine in May. In 2014 we performed a large-scale exercise in the Juukan area to preserve significant cultural heritage artifacts, recovering approximately 7,000 objects," it added. ... the question is do we have a mine that is large enough for Rio Tinto.” ... Rio names Danish CFO as new leader. Australian shares are set to slip at the open as NSW struggles to control a virus outbreak and after Wall Street ended its week on a down note. Fleetwood has won a $30 million camp expansion and upgrade contract from Rio Tinto for the Ti Tree Rail Camp in the Pilbara, Western Australia. This announcement was unlikely to affect investor views on the company because it was within the scope of expected capital investment for fiscal 2020, said RBC analysts Paul Hissey, Paul Kaner and Alexander Hislop. Our relationship with the PKKP matters a lot to Rio Tinto, having worked together for many years," the statement said. Juukan Gorge's shelters nine-times older than Stonehenge, 23-times older than the Colosseum and 75-times older than Machu Picchu. The facility can accept a range of different … "We pay our respects to the Puutu Kunti Kurrama and Pinikura People (PKKP)," Rio Tinto Iron Ore CEO Chris Salisbury said in a statement released Sunday. The site, in Juukan Gorge, in Western Australia state's resource-rich Pilbara region, featured two cave systems that contained artifacts indicating tens of thousands of years of continuous human occupation. Rio Tinto said in its statement that it had operated on PKKP country under a "comprehensive and mutually agreed" arrangement since 2011. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. (1/3), After more than a week, why hasn't Morrison condemned this? Rio Tinto is set to commence construction on the Koodaideri iron ore project in Western Australia in 2019, with the company approving a $3.5 billion investment for the development of the Pilbara mine.. The investment is included in Rio Tinto’s existing guidance for Pilbara replacement capital for 2020 to 2022. The mining company later apologized. All rights reserved. Rio Tinto has approved a $98 million investment in a new solar plant at the Koodaideri mine in the Pilbara, Australia, as well as a lithium-ion battery energy storage system to help power its entire Pilbara power network. mage of the first flight at Gudai-Darri… Follow updates here. Rio rebrands Pilbara mine RIO Tinto’s $2.6 billion Koodaideri iron ore mine in Western Australia’s Pilbara is to be referred to as Gudai-Darri after a request from Banjima traditional custodians to pronounce and spell the site in their language. In the expansion of its iron ore mine in Western Pilbara, Rio Tinto blasted the Juukan Gorge 1 and 2 – Aboriginal rock shelters dating back 46,000 years. Mining company Rio Tinto received ministerial consent to destroy or damage the site in 2013 under WA’s outdated Aboriginal heritage laws, which were drafted in 1972 to favour mining … The Australian sharemarket is headed for an uncertain open as the outbreak in Sydney comes while iron ore prices pushed higher at the end of last week. https://t.co/kfqvhsKMhz. Rio Tinto Iron Ore chief executive Chris Salisbury said most of the iron ore had been extracted from the existing pit, and this investment would be used to extract the raw material from the site's second mine, the Western Turner Syncline Phase 2 mine. It will not produce additional capacity," Mr Salisbury said. 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"We will continue to work with the PKKP to learn from what has taken place and strengthen our partnership. "Deeply troubled" traditional owners in the western Pilbara have had their worst fears confirmed after Rio Tinto detonated explosives near culturally significant sites dating back more than 46,000 years. The Juukan Gorge cave, a 46,000-year-old sacred indigenous site in Australia, was blown up by Rio Tinto. All rights reserved. The ore will feed into Rio's production of the "Pilbara Blend", a product which mixes two different ore from 13 of Rio's mines and "continues to be the preferred baseload product for China's steel mills," Rio Tinto said. If approved, the first ore from the expansion is expected to be produced in 2021. This incident is very upsetting for them & the destruction should not have occurred. With Rio Tinto, Primero has been awarded two multi-year Master Service Agreements for NPI and Structural, Mechanical, Piping services across the miner’s Pilbara operational and project locations. Rio Tinto to expand autonomous truck operations to fifth Pilbara mine site. He said the group only found out about Rio Tinto's intentions on May 15. The demolition went ahead on May 24 despite a seven-year battle by the local custodians of the land, the Puutu Kunti Kurrama and Pinikura People, to protect the site. Rio Tinto has opened Western Australia’s newest airport for the Koodaideri iron ore project in the Pilbara ahead of the mine’s production ramp up in 2022. Rio Tinto is set to commence construction on the Koodaideri iron ore project in Western Australia in 2019, with the company approving a $3.5 billion investment for the development of the Pilbara mine. I have spoken with the Traditional Owners affected by the mining blast. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Western Australia’s newest airport has opened at Rio Tinto’s $2.6 billion Gudai-Darri iron ore project in the Pilbara where construction is progressing ahead of the expected production ramp-up in early 2022.. As a matter of urgency, we are reviewing the plans of all other sites in the Juukan Gorge area.". Rio Tinto destroyed the Juukan Gorge caves last week while carrying out tasks related to its expansion plan in the Pilbara region. Very upsetting for them & the destruction should not have occurred Certain data! 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