Rio Tinto invests $1.9 billion in Queensland bauxite project

Rio Tinto plans a $1.9 billion investment in the Kangwinan bauxite project in Queensland, Australia, to replace output from its ageing Andoom mine and increase annual production capacity to 44 million tonnes by 2032. The project, targeting first output in 2029, will support the company's Weipa operations and offset the 2029 closure of the Gove mine. This follows Rio's agreement to acquire the adjacent Aurukun Bauxite Project.

Rio Tinto plans to invest $1.9 billion in the Kangwinan bauxite project in Queensland, Australia, to support its Weipa operations. The project aims to start production in 2029, replacing the Andoom mine and increasing annual capacity to 44 million metric tons. It will also offset the closure of the Gove mine in 2029, according to the company.

Rio Tinto plans to invest $1.9 billion in the Kangwinan bauxite project in Queensland, Australia. The project aims to develop bauxite resources in the region. The company's shares have seen a 5-day change of -3.42% and a year-to-date change of -9.58%.

Rio Tinto plans to invest $1.9 billion in the Kangwinan bauxite project in Queensland, Australia, aiming to boost annual production by 20 million tonnes by 2032. The project will replace the Andoom mine and support around 1,300 construction jobs. Rio Tinto expects an internal rate of return of approximately 22%.

Rio Tinto plans to invest $1.9B in the Kangwinan bauxite project in Queensland, Australia, adding 20Mt of annual capacity by 2032. First output is expected in 2029, replacing Andoom and increasing Weipa capacity to 44Mt. The project aims to extend Weipa's output as legacy mines wind down.

Rio Tinto plans to invest $1.9 billion in the Kangwinan bauxite project in Queensland, Australia. The project aims to expand the company's bauxite production capacity. The investment is subject to regulatory approvals and final decisions.