Rio Tinto, Wright Prospecting Update JV for Rhodes Ridge Project
October 17 2022 - 6:44PM
Dow Jones News
By Rhiannon Hoyle
Rio Tinto PLC said it has agreed to update a decades-old joint
venture with Australia's Wright Prospecting Pty. Ltd. that could
lead to the development of a massive untapped iron-ore deposit in
the East Pilbara mining region.
"Rhodes Ridge contains one of the biggest and best undeveloped
iron ore deposits on the planet with proximate access to existing
infrastructure," said the head of Rio Tinto's iron ore business,
Simon Trott. "We are very excited we have been able to strengthen
our relationship with Wright Prospecting and have a pathway to
bring this high-quality resource to market."
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
October 17, 2022 18:29 ET (22:29 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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