Multi-Billion-Dollar Pilbara Mine Expansion Receives Approval

Multi-billion-dollar Pilbara mine expansion receives approval

Global mining giants Rio Tinto and Hancock Prospecting have received all necessary state and federal government approvals for the Hope Downs 2 iron ore project 80 kilometres north-west of Newman.

Rio and Rinehart pour billions into iron ore mine extension

Australia’s most prolific iron ore miner and the country’s richest person have agreed to invest more than $2 billion to keep the Hope Downs mining operation alive.

Rio and Hancock invest $2.4 billion into new Pilbara mine - Australian Resources & Investment

Image: A.PAES/shutterstock.comRio Tinto and Hancock Prospecting have approved a $US1.61 billion ($2.4 billion) investment to develop the Hope Downs 2 iron ore project in Western Australia’s Pilbara region. The project, jointly owned by Rio Tinto and Hancock Prospecting, will target the Hope Downs 2 and Bedded Hilltop deposits. Rio Tinto will contribute $800 million of the total investment. The new development has secured all required state and f…

Rio Tinto and Hancock Pledge US$1.6 Billion to Advance Hope Downs 2 Iron Ore Project

Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) and privately owned Hancock Prospecting said on Tuesday (June 24) that they will invest US$1.6 billion to develop the Hope Downs 2 iron ore project in Pilbara, Western Australia. According to Rio Tinto, Hope Downs 2 has received all necessary approvals and is set to sustain production from the Hope Downs joint venture, in which Rio Tinto and Hancock are equal partners.Each company will shell out US$0.8 billio…

Rio Tinto, Hancock to spend $1.6bn on new Pilbara iron-ore project

Rio Tinto and Hancock Prospecting will invest $1.61-billion to develop the Hope Downs 2 iron-ore project in the Pilbara, aiming to sustain long-term output from their joint operations in the region. The project will target the Hope Downs 2 and Bedded Hilltop deposits and includes the development of two above-water-table pits with a combined capacity of 31-million tonnes a year.

Rio Tinto and Hancock commit $1.6bn for Australia’s Hope Downs 2 project

Rio Tinto and Hancock Prospecting have announced plans to invest $1.6bn in the Hope Downs 2 iron ore project in Pilbara, Western Australia.The post Rio Tinto and Hancock commit $1.6bn for Australia’s Hope Downs 2 project appeared first on Mining Technology.