Rio commits $US660m to extend Bingham Canyon
Rio Tinto has announced it will spend US$660m over the next seven years to extend the life of the 100 year-old Bingham Canyon copper mine in Salt Lake City USA.
Bingham Canyon mine.
The investment period covers the period from 2018 to 2029.
The company is targeting annual production rates of 180,000t of copper, 185,000 ounces of gold and 138,000t of molybdenum.
Rio will construct new mine infrastructure and purchase equipment to support pushing back the south wall of the mine. First ore from the south wall push back, which will be processed through existing mill facilities, is expected in 2017.
Rio Tinto Copper chief executive, Andrew Harding, said the investment “will secure low cost copper, gold and molybdenum production for the next two decades. We continue to evaluate underground options that will further extend the life of Bingham Canyon.”
In other Rio Tinto news, Kim Truter has been appointed new managing director of the Argyle Diamond mine, located in Western Australia’s Kimberley region.
Truter comes to Argyle from his post as chief operating officer of Rio’s Diavik diamond mine in Canada. He oversaw the development of underground operations there, a process that is currently taking place at Argyle.
However, in March this year Rio began a strategic review of its diamond business, prompting many analysts to predict the company will divest its diamond interests.