The Rhodes Ridge joint venture, comprising Rio Tinto (50 per cent), Mitsui (40 per cent) and AMB Holdings (10 per cent), has approved a $294 million feasibility study to advance the first phase of its significant Pilbara iron ore project.
The study will assess the development of a staged operation with an initial annual production capacity of 40–50 million tonnes of iron ore. The Rhodes Ridge project, located 40km north-west of Newman, is described as one of the world’s best undeveloped iron ore deposits, with a potential capacity of about 100 million tonnes per annum (Mtpa).
“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,” Rio Tinto iron ore chief executive Matthew Holcz said.
“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 study is expected to conclude in 2029, with the first ore anticipated by 2030, subject to regulatory approvals. The joint venture also intends to invest a further $146 million in exploration between 2026 and 2028.
The initial development will leverage Rio Tinto’s existing rail, port, and power infrastructure. This project will help Rio Tinto maintain its mid-term capacity target of 345–360Mtpa for its Pilbara iron ore business, according to a company statement.
