Australia’s Rio Tinto to Invest $1.9 Billion in Queensland Bauxite Project
The project will add 20 million tonnes a year and support more than 1,300 construction jobs, Rio Tinto said.
- On Friday, Rio Tinto announced a $1.9 billion investment to develop the Kangwinan bauxite project in Queensland, Australia, replacing output from the ageing Andoom mine and lifting annual production capacity at its Weipa operations.
- This investment compensates for the planned 2029 closure of the Gove bauxite mine in the Northern Territory, aiming to secure Rio Tinto's Western Cape operations well beyond the middle of the century.
- Kangwinan will add 20 million tonnes of annual bauxite capacity, lifting Weipa's overall output to 44 million tonnes, while supporting 1300 construction jobs and sustaining the existing Western Cape workforce of approximately 1500 people.
- The expansion complements Rio Tinto's agreement to acquire the adjacent Aurukun Bauxite Project from Glencore and Mitsubishi, with combined Amrun, Kangwinan, and Aurukun operations set to integrate infrastructure across the Western Cape York Peninsula.
- With first output targeted for 2029 and full production expected by 2032, the investment is projected to deliver an internal rate of return of about 22%, positioning Rio Tinto for sustained growth in the global aluminium market.
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Rio Tinto to develop the Kangwinan bauxite project with US$1.9 billion investment
Rio Tinto Ltd. has announced a significant investment of US$1.9 billion to develop the Kangwinan bauxite project in Queensland, Australia. This venture is set to not only extend the life of Rio Tinto’s Weipa Operations but also increase its annual production capacity. Here’s an overview of what this ambitious project entails and its implications for …
‘Strong vote of confidence’: Rio Tinto backs Queensland’s bauxite future
Image: Timon/stock.adobe.comRio Tinto will invest $US1.9 billion in Queensland’s Kangwinan bauxite project, targeting first production in 2029 and 1300 construction jobs. The Western Cape York project will add 20 million tonnes of annual bauxite production capacity, with first output targeted for 2029 and full production expected by 2032. Kangwinan will replace production from the ageing Andoom […] Australian Mining.
Rio Tinto to Spend $1.9 Billion on Australian Bauxite Expansion
Australia's Rio Tinto to invest $1.9 billion in Queensland bauxite ...
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