Latest news with #ArmandoTorres
Yahoo
4 days ago
- Business
- Yahoo
Rio Tinto approves A$180m investment for Norman Creek project
Rio Tinto has announced a A$180m ($116.9m) investment to commence the Norman Creek access project at the Amrun bauxite mine in Queensland, Australia. This project is crucial for the long-term sustainability of the mine, which holds approximately half of the declared Amrun ore reserves, around 978 million tonnes (mt). Construction has begun on essential infrastructure including a 19km haul road, workforce accommodation and a communications tower. First production from Norman Creek is scheduled for 2027, with the project's completion expected in 2028. The Norman Creek project is part of a broader initiative by Rio Tinto to bolster its bauxite operations. Rio Tinto Pacific Operations Aluminium managing director Armando Torres said: 'Norman Creek is another important step in securing the long-term future of our Weipa operations, and the benefits that mining brings to communities in the region, Queensland and the nation. 'It will maintain jobs in the region through to at least the middle of this century, ensuring continuity for our people and the Weipa community. 'The decision to approve Norman Creek reflects the quality of Western Cape York's world-class bauxite deposits, combined with the strong operational improvements our people are making at Amrun that are bolstering our confidence to invest for the long term.' The company has also initiated early works and a final feasibility study on the Kangwinan project, aiming to enhance production capacity at Amrun. If it goes ahead, Kangwinan could augment annual bauxite production by up to 20mt, on top of the current 23mt, and expand export capabilities via the Amrun port. Kangwinan, named by the Traditional Owners, the Wik Waya people, is set to replace production from the closing Andoom and Gove mines by the end of the decade, with the first output expected as early as 2029. The investment in Norman Creek is set to be accounted for as replacement capital, in line with the Group's capital guidance. Despite these forward-looking projects, Rio Tinto has faced financial challenges. The company reported a 22% decline in net earnings to $4.53bn (£3.37bn) in the first half of 2025, down from $5.81bn in the same period the previous year. This was attributed to lower commodity prices, increased capital expenditure and tariffs. Additionally, earnings before interest, taxes, depreciation and amortisation (EBITDA) fell to $11.55bn from $12.09bn, while net cash from operations saw a slight decrease of 1.9% to $6.92bn. "Rio Tinto approves A$180m investment for Norman Creek project" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
Rio Tinto approves US$180 million Norman Creek project, securing long-term future for Amrun bauxite operations on Queensland's Cape York Peninsula
MELBOURNE, Australia, August 07, 2025--(BUSINESS WIRE)--Rio Tinto has approved investment of US$180 million and commenced work on the Norman Creek access project at the world-class Amrun bauxite mine on Queensland's Cape York Peninsula. The Norman Creek access project will enable mining of the Norman Creek region of Amrun, which holds approximately half of the currently declared Amrun Ore Reserves of 978 million tonnes. [1] Construction is underway on key infrastructure, including a 19-kilometre haul road, camp accommodation and a communications tower. First production from Norman Creek is targeted for 2027, with full construction completed in 2028. Rio Tinto Pacific Operations Aluminium Managing Director Armando Torres said: "Norman Creek is another important step in securing the long-term future of our Weipa operations, and the benefits that mining brings to communities in the region, Queensland, and the nation. "It will maintain jobs in the region through to at least the middle of this century, ensuring continuity for our people and the Weipa community. "The decision to approve Norman Creek reflects the quality of Western Cape York's world-class bauxite deposits, combined with the strong operational improvements our people are making at Amrun that are bolstering our confidence to invest for the long-term." In addition to the Norman Creek project, Rio Tinto recently announced it had started early works and a final feasibility study on the Kangwinan project, which includes early works and final engineering studies to increase production capacity at the Amrun bauxite mine. If approved, Kangwinan would increase annual bauxite production capacity from Rio Tinto's Weipa Southern operations, by up to 20 million tonnes, in addition to the current 23 million tonnes, and expand export capacity through the Amrun port. The project was named Kangwinan at the request of Traditional Owners, the Wik Waya people. Production from the Kangwinan project would replace output from the Andoom mine on Cape York and the Gove mine in the Northern Territory, which are both expected to close toward the end of the current decade. First output from the Kangwinan project could be as early as 2029. The Norman Creek investment is expected to be classified as replacement capital and has been factored into the Group's capital guidance. [1] These Ore Reserves were reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, 2012 Edition (JORC Code) and the ASX Listing Rules in a release to the ASX dated 19 February 2025 titled "Mineral Resources and Ore Reserves updates: supporting information and Table 1 checklists" (Table 1 release) which is available at The Amrun Ore Reserves comprise 466 Mt of Proved Ore Reserves @ 54.6% Al2O3 and 8.8% SiO2 and 512 Mt of Probable Ore Reserves @ 54.3% Al2O3 and 9.1% SiO2 for a total of 978 Mt @ 54.4% Al2O3 and 9.0% SiO2. The Competent Person responsible for the information in the Table 1 release that relates to Amrun Ore Reserves is William Saba who is a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM). Rio Tinto confirms that it is not aware of any new information or data that materially affects the information included in the Table 1 release, that all material assumptions and technical parameters underpinning the estimates in the 2024 Annual Report continue to apply and have not materially changed, and that the form and context in which the Competent Person's findings are presented have not been materially modified. Ore Reserves are reported on a 100% basis View source version on Contacts Please direct all enquiries to Media Relations,United KingdomMatthew KlarM +44 7796 630 637David OuthwaiteM +44 7787 597 493 Media Relations,AustraliaMatt ChambersM +61 433 525 739Rachel PupazzoniM +61 438 875 469Bruce TobinM +61 419 103 454 Media Relations,CanadaSimon LetendreM +1 514 796 4973Malika CherryM +1 418 592 7293Vanessa DamhaM +1 514 715 2152 Media Relations,US & Latin AmericaJesse RiseboroughM +1 202 394 9480 Investor Relations,United KingdomRachel ArellanoM: +44 7584 609 644David OvingtonM +44 7920 010 978Laura BrooksM +44 7826 942 797Weiwei HuM +44 7825 907 230 Investor Relations,AustraliaTom GallopM +61 439 353 948Phoebe LeeM +61 413 557 780 Rio Tinto plc6 St James's SquareLondon SW1Y 4ADUnited KingdomT +44 20 7781 2000Registered in EnglandNo. 719885 Rio Tinto LimitedLevel 43, 120 Collins StreetMelbourne 3000AustraliaT +61 3 9283 3333Registered in AustraliaABN 96 004 458 404 Category: General Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
4 days ago
- Business
- Business Wire
Rio Tinto approves US$180 million Norman Creek project, securing long-term future for Amrun bauxite operations on Queensland's Cape York Peninsula
MELBOURNE, Australia--(BUSINESS WIRE)--Rio Tinto has approved investment of US$180 million and commenced work on the Norman Creek access project at the world-class Amrun bauxite mine on Queensland's Cape York Peninsula. The Norman Creek access project will enable mining of the Norman Creek region of Amrun, which holds approximately half of the currently declared Amrun Ore Reserves of 978 million tonnes. [1] Construction is underway on key infrastructure, including a 19-kilometre haul road, camp accommodation and a communications tower. First production from Norman Creek is targeted for 2027, with full construction completed in 2028. Rio Tinto Pacific Operations Aluminium Managing Director Armando Torres said: 'Norman Creek is another important step in securing the long-term future of our Weipa operations, and the benefits that mining brings to communities in the region, Queensland, and the nation. 'It will maintain jobs in the region through to at least the middle of this century, ensuring continuity for our people and the Weipa community. 'The decision to approve Norman Creek reflects the quality of Western Cape York's world-class bauxite deposits, combined with the strong operational improvements our people are making at Amrun that are bolstering our confidence to invest for the long-term.' In addition to the Norman Creek project, Rio Tinto recently announced it had started early works and a final feasibility study on the Kangwinan project, which includes early works and final engineering studies to increase production capacity at the Amrun bauxite mine. If approved, Kangwinan would increase annual bauxite production capacity from Rio Tinto's Weipa Southern operations, by up to 20 million tonnes, in addition to the current 23 million tonnes, and expand export capacity through the Amrun port. The project was named Kangwinan at the request of Traditional Owners, the Wik Waya people. Production from the Kangwinan project would replace output from the Andoom mine on Cape York and the Gove mine in the Northern Territory, which are both expected to close toward the end of the current decade. First output from the Kangwinan project could be as early as 2029. The Norman Creek investment is expected to be classified as replacement capital and has been factored into the Group's capital guidance. [1] These Ore Reserves were reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, 2012 Edition (JORC Code) and the ASX Listing Rules in a release to the ASX dated 19 February 2025 titled 'Mineral Resources and Ore Reserves updates: supporting information and Table 1 checklists' (Table 1 release) which is available at The Amrun Ore Reserves comprise 466 Mt of Proved Ore Reserves @ 54.6% Al 2 O 3 and 8.8% SiO 2 and 512 Mt of Probable Ore Reserves @ 54.3% Al 2 O 3 and 9.1% SiO 2 for a total of 978 Mt @ 54.4% Al 2 O 3 and 9.0% SiO 2. The Competent Person responsible for the information in the Table 1 release that relates to Amrun Ore Reserves is William Saba who is a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM). Rio Tinto confirms that it is not aware of any new information or data that materially affects the information included in the Table 1 release, that all material assumptions and technical parameters underpinning the estimates in the 2024 Annual Report continue to apply and have not materially changed, and that the form and context in which the Competent Person's findings are presented have not been materially modified. Ore Reserves are reported on a 100% basis
Yahoo
22-05-2025
- Business
- Yahoo
Rio Tinto plans to double bauxite production at Amrun mine in Queensland
Rio Tinto will begin preliminary works and final engineering studies to nearly double production from its Amrun bauxite mine in far north Queensland, Australia, by 2029. The project was named Kangwinan at the request of the traditional owners, the Wik Waya people. It will see the construction of a new mine and the expansion of the existing port. This development will increase annual bauxite production capacity from Rio Tinto's Weipa Southern operations, where Amrun is situated, by up to 20 million tonnes (mt), in addition to the current 23mt. The Amrun mine was developed at a cost of $1.9bn (A$2.96bn) and opened in 2018. Production from Kangwinan is expected to replace the output from the Andoom mine in Cape York and the Gove mine in the Northern Territory, which are set to close by the end of this decade. The expansion will generate more than 800 construction jobs and sustain the workforce currently employed at Weipa's mines. Early works approved for the project include the construction of a 250-room camp for construction workers at Amrun Village and the development of an access road to the Kangwinan area. A final investment decision (FID) on the project is expected in 2026, pending consultations with traditional owners, completion of engineering, cultural heritage and environmental studies, as well as securing regulatory and other approvals. Rio Tinto Pacific Operations Aluminium managing director Armando Torres said: 'This feasibility study will explore a new bauxite operation at our Weipa Operations and represents a strong vote of confidence in the world-class bauxite deposits on the Western Cape York Peninsula, our bauxite operations and the local community. 'It is an important step toward securing the long-term future of our operations at Cape York, and the benefits that mining brings to communities in the region, while ensuring security of supply to our Australian refineries and to our customers.' Earlier this month, Rio Tinto signed binding agreements with Codelco to establish a joint venture to develop the Salar de Maricunga lithium project in Chile. "Rio Tinto plans to double bauxite production at Amrun mine in Queensland" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21-05-2025
- Business
- Yahoo
Rio Tinto to start early works and final studies to increase Amrun mine's bauxite production on Queensland's Cape York Peninsula
MELBOURNE, Australia, May 21, 2025--(BUSINESS WIRE)--Rio Tinto will begin early works and conduct final engineering studies to increase production capacity at the Amrun bauxite mine on Cape York Peninsula in Far North Queensland, aiming for first output as early as 2029. The project, named Kangwinan at the request of Traditional Owners, the Wik Waya people, will involve building a new mine and expanding the existing port to almost double bauxite production from Rio Tinto's Weipa Southern operations, where Amrun is located. Production from the Kangwinan project would replace output from the Andoom mine in Cape York and the Gove mine in the Northern Territory, which are both expected to close toward the end of the current decade. Rio Tinto Pacific Operations Aluminium Managing Director Armando Torres said: "This feasibility study will explore a new bauxite operation at our Weipa Operations and represents a strong vote of confidence in the world-class bauxite deposits on the Western Cape York Peninsula, our bauxite operations, and the local community. "It's an important step toward securing the long-term future of our operations at Cape York, and the benefits that mining brings to communities in the region, while ensuring security of supply to our Australian refineries and to our customers." If approved, the project will establish a mining centre 15 kilometres south-east of Amrun, which was constructed at a cost of US$1.9 billion and opened in 2018. The proposed expansion would increase annual bauxite production capacity from Rio Tinto's Weipa Southern operations, by up to 20 million tonnes, in addition to the current 23 million tonnes, and expand export capacity through the Amrun port. This would largely replace the tonnages lost when Gove and Andoom come to the end of their mine lives. Kangwinan will generate more than 800 jobs in construction and would maintain the workforce currently employed at Weipa's mines slated for closure. The approved early works include building a 250-room camp at Amrun Village to house construction workers and developing an initial access road to the Kangwinan area. A final investment decision is due in 2026, subject to cultural heritage consultation with Traditional Owners, completing engineering, cultural heritage and environment studies, as well as securing regulatory and other approvals. Additional information Kangwinan is a protector of all sacred, ceremonial and female protocols of the Wik Waya tribe. It is also the name of the black female crow, a totem of the Wik Waya people. Rio Tinto operates an integrated aluminium value chain in Australia and New Zealand which starts with bauxite mined at Weipa, refined into alumina at Gladstone, Queensland then turned into aluminium at smelters in Queensland, New South Wales, Tasmania and New Zealand. Companies now owned by Rio Tinto began bauxite mining in Cape York, Queensland in 1963. The current mines supply Rio Tinto Aluminium's Yarwun and QAL refineries and export customers in China. View source version on Contacts Please direct all enquiries to Media Relations, United Kingdom Matthew Klar M +44 7796 630 637David Outhwaite M +44 7787 597 493Media Relations, Australia Matt Chambers M +61 433 525 739Michelle Lee M +61 458 609 322Rachel Pupazzoni M +61 438 875 469Media Relations, Canada Simon Letendre M +1 514 796 4973Malika Cherry M +1 418 592 7293Vanessa Damha M +1 514 715 2152Media Relations, US Jesse Riseborough M +1 202 394 9480Investor Relations, United Kingdom Rachel ArellanoM: +44 7584 609 644David Ovington M +44 7920 010 978Laura Brooks M +44 7826 942 797Weiwei Hu M +44 7825 907 230Investor Relations, Australia Tom Gallop M +61 439 353 948Phoebe Lee M +61 413 557 780 Rio Tinto plc 6 St James's SquareLondon SW1Y 4ADUnited KingdomT +44 20 7781 2000Registered in EnglandNo. 719885 Rio Tinto Limited Level 43, 120 Collins StreetMelbourne 3000AustraliaT +61 3 9283 3333Registered in AustraliaABN 96 004 458 404 Category: General Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
