6 days ago · PERTH, Australia--(BUSINESS WIRE)-- Rio Tinto notes that Mitsui & Co. has entered agreements to acquire a 40% interest in the Rhodes Ridge Joint Venture (RRJV) from Rio Tinto’s partners. Mitsui & Co. has agreed to acquire all of VOC Group Limited’s (VOCG) 25% interest 1 in the joint venture.

6 days ago · Rhodes Ridge will be developed and operated by Rio Tinto. As the existing Robe River iron ore project, in which Mitsui is participating and for which Rio Tinto is also the operator, is geographically close to the project, synergies are expected by utilizing existing infrastructure such as railways and ports, and by blending ores.

The binding joint venture updates an existing agreement between the two parties dating back to 1972 and now provides a pathway for the development of the Rhodes Ridge deposits utilising Rio Tinto’s rail, port and power infrastructure.

6 days ago · Iron ore from Rhodes Ridge will be blended into ore sold by Rio Tinto and exported to Asian countries, including Japan. Wright Prospecting’s former 50% interest in the Rhodes Ridge joint venture has been restructured and separated into two newly formed entities separately controlled by its shareholders, VOCG and AMB.

5 days ago · Rhodes Ridge’s low-phosphorus iron ore is expected to be combined with ores from other Rio Tinto operations to produce Pilbara Blend, the most traded iron ore product globally. This blending strategy will help maintain high-grade iron ore production while mitigating concerns over rising phosphorus levels in other mines.

6 days ago · Japanese trading house Mitsui & Co said on Wednesday it would acquire a 40% stake in the Rio Tinto-operated , Rhodes Ridge iron ore project in Western Australia for $5.34 billion, to strengthen ...

5 days ago · Rio Tinto has confirmed that Mitsui & Co. has entered agreements to acquire a 40 per cent interest in the Rhodes Ridge joint venture (RRJV), further strengthening its partnership with the global ...

5 days ago · Following these transactions, Rio Tinto will own 50% of the project, Mitsui 40% and AMB 10%. Rhodes Ridge, situated in the resource-rich Pilbara region, is one of the largest undeveloped iron ore deposits globally, with an estimated 6.8 billion tonnes of mineral resources.

Dec 4, 2023 · Rio Tinto has approved a $77 million pre-feasibility study to progress development of the Rhodes Ridge project, one of the world’ s best undeveloped iron ore deposits, in the East Pilbara in...

6 days ago · The news: Rio Tinto has confirmed that Japanese investor Mitsui & Co has agreed to acquire a 40% interest in its Rhodes Ridge project, an undeveloped iron ore deposit in the East Pilbara in Western Australia. The numbers: Mitsui will buy all of VOC Group's 25% interest in the joint venture. It has also agreed to acquire a further 15% interest in the partnership from AMB Holdings — a private ...