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Rio Tinto will put $1.9 billion into the Kangwinan bauxite project.

MarketRead the original at shareprophets.com
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Rio Tinto's Kangwinan project is designed to replace output from Andoom and Gove's planned closure, helping protect Weipa's future. The $1.9 billion cost comes years before output, and Rio is still working to acquire nearby Aurukun.

RIO · Rio Tinto

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The project is meant to keep Weipa producing as older mines close. That helps preserve the operation, but it requires spending years before new output arrives. Rio is also pursuing Aurukun, which could add support later but is not yet acquired.

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