Rio Tinto Increases Australian Port Investment to $1bn


Mining giant Rio Tinto will invest an additional $790m to expand Cape Lambert port in Australia, bringing the company's total investment in the port to $1bn.

The move follows Rio Tinto's decision to expand its Western Australia iron ore operations in the Pilbara region to 330 million tons.

The company will construct a 1.8km jetty and four-berth wharf to run parallel to the existing jetty and four-berth wharf.

Rio will invest $375m in marine works and $415m for the procurement of pile, marine structure, on-shore earthworks and machines.

Earlier in July, the firm announced it would spend $200m on dredging works for the Cape Lambert expansion.