The diversified mining company Rio Tinto $RIO (+0.93%) has reaffirmed its commitment to the Pilbara region and announced plans to invest 13.3 billion dollars in new mines and facilities over the next three years.
Chief executive Dominic Barton told the company's annual general meeting this week that the investment underlines the long-term potential of its operations in Western Australia.
He highlighted several major projects that will shape the future of Rio Tinto's mining operations in the Pilbara. These include expansions at key sites such as Western Range, West Angelas, Hope Downs 1, Greater Nammuldi and Brockman 4.
"Our development pipeline stretches well into the next decade and beyond with new mines and projects," Barton said.
One of Rio Tinto's major projects in the region is the Rhodes Ridge project. Rhodes Ridge, which is currently under investigation, has the potential to become Australia's largest iron ore mine, with the ability to produce more than 100 million tons per year when fully developed.
The 13.3 billion dollar investment follows similar levels of spending in the Pilbara over the past three years, which totaled 8.5 billion dollars.
Beyond the mining projects themselves, Rio Tinto places great importance on its relationships with local communities.
CEO Jakob Stausholm reiterated the company's commitment to supporting the Western Australian economy, pointing out that Rio Tinto's spend with local suppliers reached a record A$10.3 billion last year, an increase of A$1.5 billion on the previous year.
"We are very committed to the communities here because we know we can't operate without their trust," Stausholm said. "We work with around 2,400 suppliers in the region every year - a symbol of our ongoing commitment to supporting jobs and shared success."