Photo by: ©Reuters
Name of the Project
Rhodes Ridge iron-ore project.
Location
East Pilbara, Western Australia.
Project Owner/s
Rio Tinto (50%) and Wright Prospecting (50%).
Project Description
Rhodes Ridge contains one of the biggest and best undeveloped iron-ore deposits in the world. It contains 5.8-billion tonnes of high-grade mineral resources at an average grade of 62.3% iron.
The project’s total resource is estimated at 6.8-billion tonnes at an average grade of 61.6% iron, including 5.3-billion tonnes at 62.2% iron and 600-million tonnes at 63.9% iron.
An order of magnitude study, conducted by Rio Tinto, considered the development of an operation with an initial plant capacity of up to 40-million tonnes a year, subject to the receipt of relevant approvals.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
Not stated.
Capital Expenditure
Not stated.
Planned Start/End Date
Not stated.
Latest Developments
The project is progressing to a prefeasibility study (PFS), with Rio Tinto approving A$110-million to advance studies.
The start of a PFS follows the completion of an order of magnitude study and is expected to be completed by the end of 2025. It will be followed by a feasibility study.
First ore from the initial development is expected by the end of this decade.
Rio Tinto is planning to spend more than A$400-million on exploration over five years, from 2024 to 2028, as part of the ongoing study phases.
Study work to date indicates a staged development, with an initial hub likely to be located in the northern part of the project, adjacent to existing rail infrastructure.
In the longer term, the resource could support a “world-class mining hub with a potential capacity of more than 100-million tonnes a year of high-quality iron-ore.
“The size and quality of the resource base at Rhodes Ridge has the potential to underpin our iron-ore business in the Pilbara for decades to come,” Rio Tinto iron-ore CEO Simon Trott said in a statement.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
Rio Tinto, email media.enquiries@riotinto.com.