Latest news with #RioTintoIronOre
Business Wire
01-06-2025
- Business
- Business Wire
PKKP and Rio Tinto sign Co-Management Agreement
MELBOURNE, Australia--(BUSINESS WIRE)--The Puutu Kunti Kurrama and Pinikura (PKKP) Aboriginal Corporation and Rio Tinto have signed a Co-Management Agreement to support a lasting and trusted partnership. The agreement is the overarching framework for Rio Tinto's iron ore operations on PKKP Country and formalises how they engage on proposals affecting heritage and social surroundings throughout the mine lifecycle. It will ensure knowledge-sharing and joint design is at the centre of Rio Tinto's operations on PKKP Country, so significant heritage is preserved and co-managed. Pinikura Traditional Owner and Chairperson of PKKP Aboriginal Corporation, Terry Drage said: 'The effect of this agreement is that PKKP Traditional Owners will receive certainty that our important places on Country will be protected from mining, while at the same time Rio Tinto will receive certainty around where they can develop much earlier in the mine cycle. 'Ultimately, this is good for us as Traditional Owners, and it is good for business.' Rio Tinto Iron Ore Chief Executive Simon Trott said: 'The destruction of the Juukan Gorge rock shelters on the 24th of May 2020 brought immeasurable pain to the PKKP and profoundly changed our company. 'Our actions were wrong. We failed to uphold our company values, and our systems and processes were inadequate. Simply put, it should never have happened, and for that we will forever be sorry. 'Through the open and gracious sharing of knowledge and experiences, the PKKP have helped to shape a renewed approach to managing cultural heritage protection and mining activities.' The agreement is designed to provide certainty to the PKKP for the protection and management of their heritage. It also gives Rio Tinto certainty for its operations and development. The broader terms of the agreement were finalised and signed last month, ahead of the five-year anniversary of the tragic destruction of rock shelters at Juukan Gorge. The Co-Management Agreement reinforces Rio Tinto's commitment to PKKP to continue to work together on the rehabilitation of the Juukan Gorge area, focusing a shared effort to rehabilitate and preserve its cultural heritage. Note to editors: The Puutu Kunti Kurrama and Pinikura (PKKP) Aboriginal Corporation's media release on the Co-Management Agreement is available here. Broadcast-quality vision and interviews with PKKP leaders Burchell Hayes, Terry Drage, Dr Jordan Ralph and Rio Tinto Iron Ore Chief Executive Simon Trott, as well as photographs, are available for download here.
Yahoo
06-03-2025
- Business
- Yahoo
Rio Tinto to invest $1.8 billion to develop Brockman iron ore mine in Pilbara
(Reuters) -Rio Tinto said on Thursday it will invest $1.8 billion to develop its Brockman Syncline 1 iron ore project in the Pilbara region of Western Australia. The world's largest iron ore producer said the project has obtained the required approvals from both state and federal governments, and is now on track to begin producing its first ore by 2027, a year ahead of the initial schedule. The investment underpins Rio Tinto's continued commitment to iron ore in the Pilbara region, which generates a large portion of its profit, even as the company shifts focus towards copper - a metal crucial for renewable energy transition. "Brockman 4 produced 43 million tons of iron ore in 2024. Securing this project extends the life of the Brockman hub," Rio Tinto Iron Ore Chief Executive Simon Trott said. Brockman Syncline 1 (BS1) includes Brockman 4 and Greater Nammuldi with a total annual capacity of approximately 130 million tons per annum, according to Rio Tinto.
Reuters
06-03-2025
- Business
- Reuters
Rio Tinto to invest $1.8 billion to develop Brockman iron ore mine in Pilbara
March 6 (Reuters) - Rio Tinto ( opens new tab, (RIO.L), opens new tab said on Thursday it will invest $1.8 billion to develop its Brockman Syncline 1 iron ore project in the Pilbara region of Western Australia. The world's largest iron ore producer said the project has obtained the required approvals from both state and federal governments, and is now on track to begin producing its first ore by 2027, a year ahead of the initial schedule. The investment underpins Rio Tinto's continued commitment to iron ore in the Pilbara region, which generates a large portion of its profit, even as the company shifts focus towards copper - a metal crucial for renewable energy transition. "Brockman 4 produced 43 million tons of iron ore in 2024. Securing this project extends the life of the Brockman hub," Rio Tinto Iron Ore Chief Executive Simon Trott said. Brockman Syncline 1 (BS1) includes Brockman 4 and Greater Nammuldi with a total annual capacity of approximately 130 million tons per annum, according to Rio Tinto. Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here.
