Key Takeaways Rio Tinto, Mitsui and Nippon Steel will jointly invest $733M in the West Angelas Sustaining Project.The project extends the West Angelas hub's 35M-ton annual capacity and mining life.Rio Tinto plans $13B in mine and plant investments in 2025-2027, reinforcing its Australian iron ore focus.Rio Tinto Group (RIO) announced that it will jointly invest to develop the West Angelas Sustaining Project as part of its Robe River Joint Venture with Mitsui & Co. (MITSY) and Nippon Steel. This move showcas ...

Core Insights - Rio Tinto Group (RIO) plans to invest $1.6 billion in the Hope Downs 2 iron ore project in Western Australia's Pilbara region, with RIO's share being $800 million, highlighting its commitment to Australian iron ore and the sustainability of Pilbara's production [1][7] Project Details - The Hope Downs 2 project will develop two iron ore pits, expected to produce 31 million tons per year, significantly enhancing the joint venture's long-term production output [2][7] - The project has received all necessary state and federal government approvals, marking a significant milestone for RIO as it invests in next-generation iron ore mines in Pilbara [2] - Infrastructure development will include railway crossings, haul roads, and realigning 6km of the Great Northern Highway, with ore transported to Hope Downs 1 for processing, and production anticipated to start in 2027 [3] Employment Impact - The project is expected to create over 950 jobs during construction and support around 1,000 full-time roles once operational [4][7] Broader Investment Strategy - RIO plans to invest more than $13 billion in new mines, plants, and equipment from 2025 to 2027, including a $1.2 billion investment to modernize its Isle-Maligne hydroelectric power plant in Quebec, Canada [5] Stock Performance - Over the past year, RIO's shares have declined by 8.7%, contrasting with a 0.2% decline in the industry [6]