Rio Tinto’s Rhodes Ridge joint venture has approved a US$191 million feasibility study to progress development at the Rhodes Ridge project, one of the world’s best undeveloped iron ore deposits, in Western Australia’s Pilbara.
The feasibility study will assess the development of the operation with an initial annual production capacity of 40 to 50 million tonnes of iron ore. The study is expected to conclude in 2029.
The Rhodes Ridge project is a joint venture between Rio Tinto, Mitsui & Co. and AMB Holdings who intend to invest a further US$146 million in exploration between 2026 and 2028.
Rio Tinto Iron Ore CEO Matthew Holcz 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 feasibility study will look at ways to streamline operations and establish production logistics, while also finding ways to reduce environmental impact and minimise disturbance.
Rio Tinto expects Rhodes Ridge to be a staged development, with the feasibility study and initial investment as part of phase one and an initial hub likely in the northern part of the project.
First ore from Rhodes Ridge is expected by 2030, subject to regulatory approvals.
Rhodes Ridge has a potential capacity of about 100 million tonnes of high-quality iron ore a year.
Rio Tinto said the project will give it the pathway to achieve and sustain mid-term capacity of 345 to 360 million tonnes per annum from its Pilbara iron ore business.
