Rio Tinto capital expenditure for 2010 is expected to approach USD 6 billion. 2011 capital expenditure is anticipated to be approximately USD 9 billion subject to stable investment conditions.
Project completed in 2010
1. Iron ore - construction of the new Mesa A / Warramboo mine (Rio Tinto 53%) in the Robe Valley of Western Australia
Capital - USD 901 million
Status - First ore was produced in February 2010. The mine will have an initial production of 20 million tonne per annum increasing to 25 million tonne per annum by 2011.
2. Diamonds - Diavik (Rio Tinto 60%) underground development
Capital -USD 787 million
Status - The underground mine produced its first ore at the end of March 2010.
3. Thermal coal -Clermont (Rio Tinto 50.1%) will produce 12 million tonnes per annum, largely replacing Blair Athol as it ramps down to 3 million tonne per annum.
Capital - USD 1,290 million
Status - Approved in January 2007, Clermont commenced operations in May 2010 with full capacity being reached in 2013.
4. Iron ore - construction of the new 22 million tonne per annum Brockman 4 mine and the Western Turner Syncline extension of Tom Price mine in the Pilbara region of Western Australia.
Capital - USD 1,521 million
Status - Both mines commenced production in July 2010 and full capacity is expected to be reached by 2011. Further expansion options are being assessed.
Ongoing Projects
1. Iron ore - investment in next generation of driverless trains in the Pilbara
Capital - USD 371 million
Status - Approved in June 2008, the global financial crisis forced the project to be suspended at the end of 2008.
2. Iron ore - investment in cleaner, more sustainable power generation to support expansion of mining capacity in Western Australia.
Capital - USD 503 million
Status - Approved in July 2008, the four gas turbines are being commissioned and will come on line progressively during the second half of 2010.
3. Alumina - Expansion of Yarwun Alumina Refinery from 1.4 to 3.4 million tonnes per annum.
Capital - USD 1.9 billion
Status - Approved in July 2007, the project was slowed in 2009 in response to market demand. The co generation plant is currently being commissioned. The expansion is expected to be complete in the fourth quarter of 2012.
4. Aluminium - construction of a new 225MW turbine at the Shipshaw power station in Saguenay, Quebec, Canada
Capital - USD 228 million
Status - Approved in October 2008, the project remains on track and is expected to be completed in December 2012
5. Aluminium - modernization of the Kitimat smelter in British Columbia, Canada
Capital - USD 578 million
Status - Preparation for upgrade to be advanced by closing two production lines in second half of 2010. Approval for the full upgrade is scheduled for 2011
6. Aluminium - AP50 project
Capital - USD 429 million
Status - Phase 1 (60ktpa plant) is scheduled for approval in 2011.
7. Coking coal - extension and expansion of Kestrel mine (Rio Tinto share 80%).
Capital - USD 991 million
Status - Approved in December 2007, the investment will extend the life of the mine to 2031 and increase production to an average of 5.7mtpa. Extension expected to come onstream in late 2012 / early 2013.
8. Diamonds - Argyle development of underground mine, extending the life of the mine to mid-2019
Capital - USD 1.5 billion
Status - Approved in December 2005, the project has been slowed to critical development activities.
9. Copper - Northparkes (Rio Tinto 80%) E48 block cave project extending mine life to 2024
Capital - USD 221 million
Status - The project restarted in September 2009 with a scope change including an expanded ore body, secondary crushing and loader automation. Production from E48 commenced in late 2009 with full production anticipated in late 2010.
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