Rio Tinto to Spend $395 Million on Australia Desalination Plant
June 01 2023 - 7:23PM
Dow Jones News
By Rhiannon Hoyle
Rio Tinto, the world's second-biggest miner by market value,
said it plans to invest $395 million in a seawater desalination
plant in the Pilbara region of Western Australia, where it runs
massive iron-ore mining operations.
The plant, which will be built within Rio Tinto's existing
iron-ore port operations at Parker Point, will support future water
supply for the company's coastal operations and communities in the
region, Rio Tinto said.
It will have an initial nominal capacity of four gigaliters but
could later be increased to eight gigaliters, the company said.
Construction of the plant, which still needs to be approved by
the state and federal governments, is expected to start in 2024. It
should be operational in 2026, the company said.
The $395 million investment is included in the company's
sustaining capital expenditure, said Rio Tinto, which said its
annual capital expenditure guidance for both 2024 and 2025 remains
unchanged.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
June 01, 2023 19:08 ET (23:08 GMT)
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