Rio Tinto approves Marandoo iron ore mine life extension

Rio Tinto has approved a US$933 million investment (Rio Tinto share 100%) to extend the life of the Marandoo iron ore mine by 16 years to 2030. Rio Tinto Chief Executive Iron Ore and Australia, Sam Walsh said the Marandoo extension plays an important role in sustaining the Pilbara operations' annual capacity rate, complementing the major expansion programmes now underway.

Located 35km north east of the town of Tom Price, the project will extend the Marandoo mine life at its current mining rate of 15 million tonnes a year by developing the adjacent reserves below the water table.

One component of the Marandoo project is a water management strategy to manage the operation's dewatering, including priority water delivery to the Tom Price township and mine operations, the reinjection of water into the Southern Fortescue borefield to the north and a proposed irrigated agriculture scheme. The project requires a number of Government and regulatory approvals, all of which have been received or are progressing well and on schedule, the company said.