Latest news with #WikWaya
Yahoo
23-05-2025
- Business
- Yahoo
Rio Tinto to Begin Work to Boost Bauxite Output at Amrun Mine
Rio Tinto Group (NYSE:RIO) will start early construction and engineering studies to boost bauxite production at its Amrun mine on the Cape York Peninsula in Queensland. Aerial view of an open pit mine, with workers extracting minerals. By adding up to 20 million tonnes a year to the current 23 million tonnes, the expansion project, known as Kangwinan by the Wik Waya Traditional Owners, seeks to almost double production from Weipa Southern operations. The Amrun port expansion and the construction of a new mine 15 km southeast of Amrun are part of the project. A final investment decision is anticipated in 2026, with the objective of first production being set for 2029. As the Andoom and Gove mines near closure, the project will maintain jobs and generate over 800 construction jobs. Rio Tinto Group (NYSE:RIO) plans to replace output from its Andoom (Cape York) and Gove (Northern Territory) mines with Kangwinan. Both mines are expected to cease operations by the end of the decade. Rio Tinto Group (NYSE:RIO)'s aluminum value chain relies heavily on the Amrun mine, which was built at a cost of US$1.9 billion and inaugurated in 2018. The company produces aluminum at smelters in Australia and New Zealand and refines bauxite from Weipa at Gladstone. Early construction projects have been approved, including a 250-room camp and an access road. Environmental evaluations, regulatory clearances, and cultural heritage consultations are necessary for progress. The Wik Waya people also attach cultural value to Kangwinan. While we acknowledge the potential of RIO to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RIO and that has 100x upside potential, check out our report about this READ NEXT: and .
Yahoo
23-05-2025
- Business
- Yahoo
Rio Tinto to Begin Work to Boost Bauxite Output at Amrun Mine
Rio Tinto Group (NYSE:RIO) will start early construction and engineering studies to boost bauxite production at its Amrun mine on the Cape York Peninsula in Queensland. Aerial view of an open pit mine, with workers extracting minerals. By adding up to 20 million tonnes a year to the current 23 million tonnes, the expansion project, known as Kangwinan by the Wik Waya Traditional Owners, seeks to almost double production from Weipa Southern operations. The Amrun port expansion and the construction of a new mine 15 km southeast of Amrun are part of the project. A final investment decision is anticipated in 2026, with the objective of first production being set for 2029. As the Andoom and Gove mines near closure, the project will maintain jobs and generate over 800 construction jobs. Rio Tinto Group (NYSE:RIO) plans to replace output from its Andoom (Cape York) and Gove (Northern Territory) mines with Kangwinan. Both mines are expected to cease operations by the end of the decade. Rio Tinto Group (NYSE:RIO)'s aluminum value chain relies heavily on the Amrun mine, which was built at a cost of US$1.9 billion and inaugurated in 2018. The company produces aluminum at smelters in Australia and New Zealand and refines bauxite from Weipa at Gladstone. Early construction projects have been approved, including a 250-room camp and an access road. Environmental evaluations, regulatory clearances, and cultural heritage consultations are necessary for progress. The Wik Waya people also attach cultural value to Kangwinan. While we acknowledge the potential of RIO to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RIO and that has 100x upside potential, check out our report about this READ NEXT: and . 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
23-05-2025
- Business
- Yahoo
Rio Tinto to start early works to increase Amrun mine's bauxite production
Rio Tinto (RIO) '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. 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.' Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on RIO: Disclaimer & DisclosureReport an Issue Regulus provides update on metallurgical test program with Nuton Rio Tinto, Codelco partner to develop lithium project in Salar de Maricunga Rio Tinto, Sumitomo Metal Mining sign agreement for Winu Project joint venture U.S. judge blocks land transfer for Rio Tinto copper mine, Reuters reports Rio Tinto extracts first primary gallium from alumina refining process 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
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
Business Insider
22-05-2025
- Business
- Business Insider
Rio Tinto to start early works to increase Amrun mine's bauxite production
Rio Tinto (RIO) '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. 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.'
