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Rio Tinto Ltd (ASX:RIO) is set to invest $1.8 billion to expand its Brockman iron ore operations in Western Australia's West Pilbara. The Brockman Syncline extension, expected to begin construction in late 2025, will add up to 34 million tonnes of annual iron ore production. First ore delivery is now slated for 2027, a year earlier than initially projected.
The project has secured all necessary approvals from state and federal authorities, as well as indigenous groups. In 2024, Brockman 4 produced 43 million tonnes of iron ore, and the expansion will extend the life of the Brockman hub, according to Rio Tinto Iron Ore CEO Simon Trott.
During construction, the project will generate about 1,000 jobs, with around 600 workers employed once operational. As the world’s top iron ore producer, Rio Tinto aims to scale up production in anticipation of a potential demand surge from China, the biggest global importer.
However, the company, along with competitor BHP Group Ltd (ASX:BHP), faces challenges from falling iron ore prices, exacerbated by concerns over new U.S. trade tariffs. Despite this, Rio Tinto’s strategic investment underscores its commitment to long-term growth in the iron ore sector.
The Brockman Syncline expansion aligns with Rio’s broader efforts to sustain production levels and capitalize on future market recoveries, reinforcing its dominant position in the global iron ore industry.
