Rio Tinto Ltd. (RTP) said Friday it has awarded a A$200 million mining contract for the development of an iron ore deposit to a joint venture between local native title holders and NRW Holdings Ltd. (NWH.AU).

The joint venture partners will build, mine and transport iron ore from the Western Turner Syncline deposit in the Pilbara region of Western Australia with production at a rate of six million tons a year expected to start in July 2010.

Rio Tinto Iron Ore Chief Executive Sam Walsh said the contract will allow the local Eastern Guruma people to develop capacity in mining services and boost their participation in resource development on their traditional lands.

-By Alex Wilson, Dow Jones Newswires; 61-3-9292-2094; alex.wilson@dowjones.com
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