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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Rio Tinto Ltd | ASX:RIOCD | Australian Stock Exchange | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 125.35 | 123.81 | 125.35 | 0.00 | 01:00:00 |
From Jun 2022 to Jun 2024
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)
Copyright (c) 2023 Dow Jones & Company, Inc.
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