US Edition
Rio Tinto to restart $473 million South African mineral sands project
The $473 million investment secures RBM's supply of zircon, rutile, and ilmenite until 2050 with construction starting soon and production by late 2028.
- On Monday, Rio Tinto approved the US$473 million Zulti South project in Richards Bay, South Africa, lifting its suspension, the company said.
- Planners see Zulti South as key to extending RBM's operations to 2050 as the Zulti North ore body declines, maintaining stable zircon, rutile, ilmenite supply and supporting TiO2 sales.
- Construction will begin this quarter and take 30 months, targeting commercial production in the fourth quarter of 2028, with China Harbour Engineering Company as the EPC contractor.
- RBM framed the restart as a jobs-preserving move, saying Werner Duvenhage credited government and Amakhosi support and noted improved security and stronger community partnerships.
- The restart follows a suspension that began in 2020, when the project paused after prolonged community unrest, which included clashes with community trusts and the 2021 murder of Nico Swart, former RBM general manager.
11 Articles
11 Articles
Mining giant Rio Tinto to restart major South Africa minerals project
Mining giant Rio Tinto announced that a mining project in South Africa worth $473 million will restart, potentially reinforcing the supply of globally sought minerals. The Richards Bay Minerals’ Zulti South project has been halted for six years because of violent unrest including protests and extortion attempts, but the mining giant said relations with the local community and the security situation had now improved.The operation in KwaZulu-Natal…
Rio Tinto stock drops 2% in London as war jitters bite; investors eye what’s next
Rio Tinto shares dropped 2.1% to 7,181 pence in early London trading Tuesday, tracking losses across European miners as Middle East tensions drive up energy costs. The company approved a $473 million restart of its Richards Bay mineral sands project in South Africa and secured C$18.95 million in Canadian government support for a gallium pilot plant. Oil shipping costs surged as traffic through the Strait of Hormuz slowed. The post Rio Tinto stoc…
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