Rio Tinto to invest $1.9 billion to develop the Kangwinan bauxite project in Western Cape York, Queensland
Rio Tinto will invest $1.9 billion to develop the Kangwinan bauxite project on Western Cape York, Queensland, adding 20 million tonnes of annual bauxite capacity at its Weipa Operations. First output is targeted for 2029 with full production by 2032, replacing the depleting Andoom mine and helping offset the planned 2029 end of production at the Gove mine, lifting Weipa capacity to about 44 million tonnes from around 38 million today. The company expects an internal rate of return of roughly 22%, with the capex sitting within its existing mid-term capital guidance.
Key figures
- Deal Value Usd
- 1900000000
- Irr
- approximately 22%
- Construction jobs
- more than 1,300
- Early works capex
- 150000000
- First output year
- 2029
- Full production year
- 2032
- Residential workforce
- around 1,500
- Weipa capacity target tonnes
- 44000000
- Current weipa production tonnes
- 38000000
- Additional annual capacity tonnes
- 20000000
AI analysis
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