The Rhodes Ridge Joint Venture has approved a $191m feasibility study to progress development of the first phase of the Rhodes Ridge project in Pilbara, Australia.
The feasibility study will assess the development of an iron ore mine with an initial annual production capacity of 40Mt to 50Mt.
The joint venture partners, Rio Tinto (50%), Mitsui (40%) and AMD Holdings (10%) intend to invest a further $146m on exploration between 2026 and 2028.
Matthew Holcz, Rio Tinto’s iron ore chief executive, said: “In partnership with the Nyiyaparli Traditional Owners, we are working to develop Rhodes Ridge, which, given its size and quality, has the potential to underpin Rio Tinto’s Pilbara iron ore business for decades to come.
“Earlier this year, the joint venture welcomed Mitsui into the project, confirming Rhodes Ridge as one of the best undeveloped iron deposits in the world. We’re excited to keep working with all our partners as we progress the feasibility study.”
The Rhodes Ridge Joint Venture will work closely with Nyiyaparli Traditional Owners throughout the mine life cycle, guided by the recently updated Native Title agreement’s engagement framework, to protect and manage cultural heritage and the environment.
The joint venture will also aim to find better ways to reduce environmental impact through the design of the mine.
The feasibility study is set to be completed in 2029, with the first iron ore expected in 2030 (subject to regulatory approval).
