Rhodes Ridge joint venture launched USD191 Million feasibility study for iron ore project in Pilbara

As part of the feasibility study, the development of an iron ore operation with an annual production capacity of 40–50 million tonnes will be assessed. The joint venture partners Rio Tinto (50%), Mitsui (40%), and AMB Holdings (10%) plan to invest an additional USD146 million (AUD 225 million) in exploration activities between 2026 and 2028 as part of the ongoing work phases. The study is expected to be completed in 2029.

Matthew Holcz, CEO of Rio Tinto Iron Ore, commented on the project, emphasizing the partnership with the Nyiyaparli Traditional Owners: “Given its size and quality, Rhodes Ridge has the potential to support Rio Tinto’s Pilbara iron ore business for decades to come. Earlier this year, Mitsui’s participation in the project reaffirmed that Rhodes Ridge is one of the world’s best undeveloped iron ore deposits. We are excited to continue working with all our partners throughout the feasibility process.”

The Rhodes Ridge Joint Venture will work closely with the Nyiyaparli Traditional Owners in line with the recently updated Indigenous Rights Agreement, ensuring the protection of cultural heritage and the environment throughout the mine’s lifecycle. Project design priorities include minimizing land impacts and mitigating long-term closure effects.

The transition to the feasibility stage follows Mitsui’s announcement earlier this year that it had acquired a 40% stake in the joint venture. The project will be implemented using a phased development model. The current investment and feasibility study focus on the first stage, which is likely to be located in the northern part of the project area. This stage plans to leverage Rio Tinto’s existing rail, port, and energy infrastructure.

Subject to regulatory approvals, the first ore from the initial Rhodes Ridge development area, located approximately 40 kilometres northwest of Newman, is targeted for extraction by 2030. In the long term, Rhodes Ridge is expected to have the potential to produce around 100 million tonnes of high-quality iron ore per year. This capacity will support Rio Tinto’s aim to reach and sustain a medium-term production level of 345–360 million tonnes per year across its Pilbara iron ore operations.