The Marandoo iron ore mine owned by Rio Tinto has seen developments which would possibly extend its life by another 16 years. The mining giant has now approved a $933 million investment in to the mine which will see its life span extended to 2030.
Rio Tinto said that the extension planned at Marandoo will play an important role in sustaining the annual capacity rate of the Pilbara operations. It will also go together with the other major extensions programs that are already in progress.
The planned extension at Marndoo will help it maintain its current 15 million tonnes of iron ore annual average production by developing some close by reserves located below the water table. A wet processing plant and other on site facilities such as an accommodation village and a construction camp will be part of the new construction activities thanks to the extension.
An additional mining fleet will be utilized in the extension project at Marandoo as well. Rio Tinto said that it had also approved another $277 million investment in the next phase of a project that will increase the Iron Ore Company of Canada’s iron concentrate production capacity by 40% to a figure of 26 million tonnes annually.