Rio Tinto's Rhodes Ridge project commences $191 mln feasibility study

Rio Tinto, the world's leading iron ore producer, announced in a Tuesday post that an investment of $191 million was approved for a feasibility study on the first phase of its Rhodes Ridge project in the Pilbara region of Western Australia, assessing an initial production capacity of 40-50 million tonnes/year.

Rhodes Ridge, one of the world's largest untapped iron ore deposits, has an estimated 6.8 billion tonnes of high-grade ore and a potential capacity of about 100 million tonnes/year. The progression to this feasibility study follows the positive results of the pre-feasibility study completed this month, according to Mitsui &