Rio Tinto and BHP have agreed to jointly mine iron ore
Rio Tinto and BHP– two of the world's leading mining companies, have agreed to cooperate in the extraction of up to 200 million tons of iron ore at the adjacent Yandicoogina and Yandi sites in the Pilbara region. This is stated in the message from Rio Tinto.
The companies will work on the development of Rio Tinto's Wunbie deposit (Yandicoogina project) and the processing of ore from the Yandi BHP site at Rio Tinto facilities on agreed commercial terms.
As the CEO of Rio Tinto Iron noted? Matthew Holtz, this way the parties can make better use of the existing infrastructure to unlock additional production with minimal capital expenditure.
Rio Tinto and BHP agreed to conduct a conceptual study and then investigate the order of magnitude. Subject to a final investment decision, the first ore from both deposits is expected at the beginning of the next decade.
The new cooperation is based on the 2023 agreement between Rio Tinto and BHP regarding the Mungadoo Pillar deposit, which made it possible to extract ore from a previously inaccessible common border of ownership.