Iron ore boss Simon Trott says completion of the Gudai-Darri mine is a turning point for the struggling division and the next mine investment isn’t far away.
Gudai-Darri should improve the performance of Rio’s flagship iron ore division in several ways, particularly in terms of volumes given Rio’s mines have struggled to produce enough ore to run its trains and ports at full capacity.
Compared to Rio’s other mines in Western Australia, the amount of waste rock that needs to be removed to extract the saleable ore is roughly halved at Gudai-Darri.although it won’t entirely stop a recent trend for the miner to sell higher volumes of lower quality ores. “We do have some fixes to do, which we have aligned with some other shut work we are doing in Q3 [the three months to September 30], so that is when we would be on a firmer footing,” he said.“We have worked through quite a few of those issues and the production over the past few months has generally been better.”
“We now set our sights on the mines we need in 2025, 2026 and 2027; Western Range, Bedded Hill Top and Brockman Syncline, they are the next tranche,” Mr Trott said.“The EPA [Environmental Protection Authority of WA] has recommended approval and so it is working through that process. Sometime during the second half [of 2022] we obviously need all the approvals in place before we kick that one into go,” he said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ASX to slip as downward pressure builds on oil, iron oreAustralian shares are poised to open modestly lower with worry about a global recession rising at an accelerated pace.
Read more »
ASX slips 0.6pc after rout in oil and iron ore pricesAustralian shares retreated as falling oil and iron ore prices added to concerns that high energy costs would reinforce the risk of a global recession.
Read more »
ASX slips 0.6pc after rout in oil and iron ore pricesAustralian shares retreated as falling oil and iron ore prices added to concerns that high energy costs would reinforce the risk of a global recession.
Read more »
Iron ore tumble puts BHP in bear territoryOPINION: China stimulus efforts haven’t delivered a promised surge in economic activity, putting pressure on steel mills, iron ore prices and big miners’ shares.
Read more »
‘Very nervous’: iron ore markets swing violentlyIron ore markets are delicately poised as traders weigh up Beijing’s promises of economic stimulus with the ongoing pursuit of its zero COVID-19 strategy.
Read more »
‘I didn’t know he was my dad’: Simon Baker shares his remarkable family storyAfter years of invites, the Australian actor finally agreed to appear on Who Do You Think You Are?, revealing both painful memories and some incredible relatives
Read more »