Rio Tinto And China Baowu Group Open Western Range Iron Ore Mine
Rio Tinto has officially opened its newest iron ore mine, Western Range. The Western Australia Premier, Roger Cook, and Federal Resources Minister, Madeleine King, joined Yinhawangka traditional owners plus senior representatives from Rio Tinto and joint venture partner China Baowu Group to mark the milestone.
Western Range has the capacity to produce up to 25 million tonnes of iron ore per year and could sustain the existing Paraburdoo mining hub for up to 20 years. The US$2 billion joint venture between Rio Tinto (54%) and Baowu (46%), was completed on time and on budget. It involved building a primary crusher and 18-kilometre conveyor system linked to the existing Paraburdoo processing plant. The new mine provides stability for Paraburdoo’s more than 880 residential and FIFO employees and strengthens the Western Australia and national economies through royalties and taxes.
Rio Tinto and Baowu’s partnership in the Pilbara began with the 2002 Bao-HI Joint Venture to develop the Eastern Range deposits in the Hamersley Ranges. Chairman of China Baowu Group, Hu Wangming, said: “The Western Range project is not only a strategic cornerstone in the global resource layout of China Baowu and Rio Tinto, but also a model of China-Australia economic and trade cooperation. We are committed to working hand in hand with the Western Australian Government, Indigenous communities, and partners from all sectors to build an inclusive and sustainable cooperation ecosystem”.
Rio Tinto´s Chief Executive, Jakob Stausholm, said: “Opening Western Range is an important step in Rio Tinto’s extension plans in the Pilbara and ensures the longevity of one of our oldest mining hubs, Paraburdoo, which began operating in 1972.
“Partnering with Baowu ensures our biggest customer directly benefits with a consistent, dedicated supply of Rio Tinto’s world leading Pilbara Blend iron ore,” Mr Stausholm added. The first ore was processed through the Western Range system in late March this year.
For further information, visit the Rio Tinto website: www.riotinto.com