first announced plans for an investment decision in its half yearly reports earlier this year.<\/a><\/p>\n\u201cThe brownfield expansion of the high-grade Silvergrass mine offers attractive returns, with an expected internal rate of return for this investment will in excess of 100 per cent and a payback of less than three years,\u201d Rio Tinto said.<\/p>\n
The project is key for the miner to maintain its higher grade iron ore blend, whilst also adding ten million tonnes of capacity.<\/p>\n
\u201cWe are committed to disciplined capital allocation and the approval of the final phase of the Silvergrass development, which is one of the most value-accretive projects across the mining industry, delivers high-quality, low-cost growth that will underpin future returns to shareholders,\u201d Rio Tinto CEO J-S Jacques said.<\/p>\n
He reiterated the importance of the project in maintaining Rio\u2019s Pilbara blend grades.<\/p>\n
\u201cThe additional low-phosphorous tonnes that Silvergrass delivers will sustain the long-term viability of our Pilbara blend, ensuring continued premium pricing, whilst also lowering our operating costs through infrastructure improvements,\u201d Jacques said.<\/p>\n
These improvements include replacing road haulage with an overland conveyor system linking Silvergrass to its existing processing plant at Nammuldi.<\/p>\n","protected":false},"excerpt":{"rendered":"
Rio Tinto has announced it will invest $338 million to complete development of its existing Silvergrass iron ore mine. The miner first announced plans for an investment decision in its half yearly reports earlier this year. \u201cThe brownfield expansion of the high-grade Silvergrass mine offers attractive returns, with an expected internal rate of return for … Continue reading “Rio Tinto reinvesting in the Pilbara”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[],"class_list":["post-1732","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p83F9T-rW","jetpack-related-posts":[{"id":2066,"url":"https:\/\/yinghuiinternational.com\/index.php\/2016\/12\/21\/rio-tinto-awards-iron-ore-contract-to-decmil\/","url_meta":{"origin":1732,"position":0},"title":"Rio Tinto awards iron ore contract to Decmil","author":"yinghui","date":"December 21, 2016","format":false,"excerpt":"Perth-based mining contractor Decmil has secured a new contract at Rio Tinto\u2019s iron ore operations in the Pilbara region of Western Australia. The $40 million contract will see Decmil design, construct and commission new facilities at the Nammuldi and Silvergrass mines. The project scope also includes modifications and extensions to\u2026","rel":"","context":"In "Clients"","block_context":{"text":"Clients","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/clients\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1745,"url":"https:\/\/yinghuiinternational.com\/index.php\/2016\/08\/16\/rcr-win-rio-tinto-iron-ore-contract\/","url_meta":{"origin":1732,"position":1},"title":"RCR win Rio Tinto iron ore contract","author":"yinghui","date":"August 16, 2016","format":false,"excerpt":"RCR Tomlinson\u00a0(http:\/\/www.rcrtom.com.au\/) has been awarded a contract to provide materials handling systems at Rio Tinto\u2019s Silvergrass mine. The contract, valued at $120 million, sees RCR provide a crusher and conveyor systems. It includes the engineering, procurement, and construction of a new primary crusher, nine kilometres of overland conveyors, and associated\u2026","rel":"","context":"In "Mines and Quarry"","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1668,"url":"https:\/\/yinghuiinternational.com\/index.php\/2016\/07\/19\/rio-tinto-releases-second-quarter-production-results\/","url_meta":{"origin":1732,"position":2},"title":"Rio Tinto releases second quarter production results","author":"yinghui","date":"July 19, 2016","format":false,"excerpt":"Rio Tinto has seen production increases across the board, seeing a leap in all segments bar coking coal. The miner recorded a 10 per cent increase in iron ore production for the first half of 2016 compared to last year, and an eight per cent increase for the second quarter\u2026","rel":"","context":"In "Mines and Quarry"","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3142,"url":"https:\/\/yinghuiinternational.com\/index.php\/2018\/08\/01\/rio-tinto-takes-key-step-towards-first-intelligent-mine\/","url_meta":{"origin":1732,"position":3},"title":"Rio Tinto takes key step towards first \u2018intelligent\u2019 mine","author":"yinghui","date":"August 1, 2018","format":false,"excerpt":"Rio Tinto has approved $US146 million ($197 million) in preliminary funding for the Koodaideri iron ore project in the Pilbara region, Western Australia. The miner plans to develop Koodaideri into\u00a0its first\u00a0\u201cintelligent\u201d operation by including the latest in high-tech advances in the industry and by using an increased level of automation\u2026","rel":"","context":"In "Mines and Quarry"","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1077,"url":"https:\/\/yinghuiinternational.com\/index.php\/2015\/11\/03\/experienced-players-prepare-for-mining-upswing\/","url_meta":{"origin":1732,"position":4},"title":"Experienced players prepare for mining upswing","author":"yinghui","date":"November 3, 2015","format":false,"excerpt":"Research from Business News found that five significant 'greenfields' mining projected, worth $760 million, have started development in the past year. Looking ahead to 2017, there might be only one major new mining project although there have been no guarantees. In Deloitte Access Economics' latest investment monitor, the value of\u2026","rel":"","context":"In "Mines and Quarry"","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"sEVLeuR","src":"https:\/\/i0.wp.com\/www.bnmme.com.au\/wp-content\/uploads\/2015\/11\/sEVLeuR.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":8299,"url":"https:\/\/yinghuiinternational.com\/index.php\/2023\/07\/11\/rio-tinto-details-copper-growth-aspirations\/","url_meta":{"origin":1732,"position":5},"title":"Rio Tinto details copper growth aspirations","author":"yinghui","date":"July 11, 2023","format":false,"excerpt":"TOM PARKER The Oyu Tolgoi mine. Rio Tinto has lofty copper ambitions in the years to come, with hopes to account for 25 per cent of growth volumes in global copper supply in the next five years. The major miner held an investor site visit at the\u00a0Oyu Tolgoi operation\u00a0in Mongolia\u2026","rel":"","context":"In "Gold and Copper"","block_context":{"text":"Gold and Copper","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/goldcopper\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/posts\/1732","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/comments?post=1732"}],"version-history":[{"count":1,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/posts\/1732\/revisions"}],"predecessor-version":[{"id":1733,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/posts\/1732\/revisions\/1733"}],"wp:attachment":[{"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/media?parent=1732"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/categories?post=1732"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/tags?post=1732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}