Rio Tinto hikes investment in the Pilbara
Rio Tinto s iron ore operations in the Pilbara began in 1966, with the Mount Tom Price mine (pictured here) opening that year. (
Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) has spent over US$385 million (A$500 million) in the past year to continue developing the Greater Tom Price iron ore operations in Western Australia’s Pilbara region.
The world’s second-largest iron ore producer kicked off the Western Turner Syncline Phase 2 expansion in early 2020 and intends to employ more than 1,000 people at peak construction.
The cash injection comes after Rio Tinto spent US$749 million (A$1 billion) in late 2019 to keep up iron ore production rates in the Pilbara area.
Rio Tinto hikes investment in the Pilbara
Rio Tinto’s iron ore operations in the Pilbara began in 1966, with the Mount Tom Price mine (pictured here) opening that year. (
Image courtesy of Wikipedia.)
Rio Tinto (ASX, LON, NYSE: RIO) has spent over $385 million (A$500 million) over the past year to continue developing the Greater Tom Price iron ore operations in Western Australia’s Pilbara region.
The world’s second largest iron ore producer kicked off the Western Turner Syncline Phase 2 expansion in early 2020 and intends to employ more than 1,000 people at peak construction.
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Rio Tinto: Rio spends over A$500 million with WA businesses at Tom Price mine
Rio Tinto has to date awarded contracts valued at over $385 million (A$500 million) to local Western Australian and Pilbara Aboriginal businesses to support the latest development of its Greater Tom Price Operations.
Construction of the Western Turner Syncline Phase 2 (WTS2) expansion commenced in early 2020 and to date more than 85 per cent of spending on the project has been awarded to Western Australian and Pilbara Aboriginal businesses, directly through Rio Tinto or principal contractor Mondium.
At peak construction, development will support a workforce of over 1,000 people with the majority employed by WA businesses, including Guma Warnii, Monadelphous, Mondium, Kerman Contracting, Whittens, North West Mining Civil, MACA Civil, Linkforce and Aerison.
Rio spends over A$500 million with WA businesses at Tom Price mine investingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investingnews.com Daily Mail and Mail on Sunday newspapers.