We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Rio Tinto to Jointly Invest $733M in West Angelas Sustaining Project
Read MoreHide Full Article
Key Takeaways
Rio Tinto, Mitsui and Nippon Steel will jointly invest $733M in the West Angelas Sustaining Project.
The project extends the West Angelas hub's 35M-ton annual capacity and mining life.
Rio Tinto plans $13B in mine and plant investments in 2025-2027, reinforcing its Australian iron ore focus.
Rio Tinto Group (RIO - Free Report) announced that it will jointly invest to develop the West Angelas Sustaining Project as part of its Robe River Joint Venture with Mitsui & Co. (MITSY - Free Report) and Nippon Steel. This move showcases solid partnerships within the joint venture and the Yinhawangka and Ngarlawangga Peoples.
Details of Rio Tinto’s West Angelas Sustaining Project
RIO will invest $733 million with Mitsui and Nippon Steel, wherein Rio Tinto's share will be $389 million. The West Angelas Sustaining Project aims to develop iron ore deposits in the West Angelas hub, which has been a key part of Rio Tinto Iron Ore since 2002.
RIO, Mitsui and Nippon Steel have received all the required approvals from the State and Federal Government to develop the project. The project will keep maintaining the West Angelas hub's 35 million tons of annual production capacity, extending mining life. The project will utilize the existing West Angelas processing infrastructure, and construct a new infrastructure and 22 km of haul roads.
Rio Tinto, along with the Yinhawangka and Ngarlawangga Peoples , has curated Social Cultural Heritage Management Plans for the West Angelas Sustaining Project, ensuring the protection of cultural heritage and the environment. The project will create 600 jobs and employ 950 people for equivalent roles at the West Angelas hub.
RIO’s Focus on Mine Investment
The company is set to invest more than $13 billion in new mines, plants and equipment between 2025 and 2027. In May 2025, the company announced that it would invest $1.2 billion (CAD $1.7 billion) to modernize its 100-year-old Isle-Maligne hydroelectric power plant in Quebec, Canada. This is RIO’s most significant investment in its hydroelectric assets in more than seven decades.
In June 2025, it announced plans to invest $1.6 billion with Hancock Prospecting to develop the Hope Downs 2 iron ore project in Western Australia's Pilbara region, where Rio Tinto's share will be $800 million. RIO's investment in these projects underscores its commitment to Australian iron ore and the long-term sustainability of Pilbara's production.
In August 2025, the company approved an investment of $180 million for the Norman Creek access project, which will enable mining of the Norman Creek region of Amrun. Norman Creek is an integral development for the long-term sustainability of the company’s Weipa operations.
Rio Tinto Stock's Price Performance
In the past year, shares of the company have gained 6.2% compared with the industry’s 17.6% growth.
Image Source: Zacks Investment Research
RIO’s Zacks Rank & Other Stocks to Consider
Rio Tinto currently sports a Zacks Rank #1 (Strong Buy).
The consensus estimate for DRDGOLD’s 2025 earnings is pegged at $1.62 per share. The estimate indicates year-over-year growth of 13.3%. DRDGOLD’s shares have skyrocketed 175% in a year.
The Zacks Consensus Estimate for The Mosaic Company’s 2025 earnings is pegged at $3.17 per share, indicating a year-over-year surge of 60.1%. The Mosaic Company’s shares jumped 31.5% last year.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Rio Tinto to Jointly Invest $733M in West Angelas Sustaining Project
Key Takeaways
Rio Tinto Group (RIO - Free Report) announced that it will jointly invest to develop the West Angelas Sustaining Project as part of its Robe River Joint Venture with Mitsui & Co. (MITSY - Free Report) and Nippon Steel. This move showcases solid partnerships within the joint venture and the Yinhawangka and Ngarlawangga Peoples.
Details of Rio Tinto’s West Angelas Sustaining Project
RIO will invest $733 million with Mitsui and Nippon Steel, wherein Rio Tinto's share will be $389 million. The West Angelas Sustaining Project aims to develop iron ore deposits in the West Angelas hub, which has been a key part of Rio Tinto Iron Ore since 2002.
RIO, Mitsui and Nippon Steel have received all the required approvals from the State and Federal Government to develop the project. The project will keep maintaining the West Angelas hub's 35 million tons of annual production capacity, extending mining life. The project will utilize the existing West Angelas processing infrastructure, and construct a new infrastructure and 22 km of haul roads.
Rio Tinto, along with the Yinhawangka and Ngarlawangga Peoples , has curated Social Cultural Heritage Management Plans for the West Angelas Sustaining Project, ensuring the protection of cultural heritage and the environment. The project will create 600 jobs and employ 950 people for equivalent roles at the West Angelas hub.
RIO’s Focus on Mine Investment
The company is set to invest more than $13 billion in new mines, plants and equipment between 2025 and 2027.
In May 2025, the company announced that it would invest $1.2 billion (CAD $1.7 billion) to modernize its 100-year-old Isle-Maligne hydroelectric power plant in Quebec, Canada. This is RIO’s most significant investment in its hydroelectric assets in more than seven decades.
In June 2025, it announced plans to invest $1.6 billion with Hancock Prospecting to develop the Hope Downs 2 iron ore project in Western Australia's Pilbara region, where Rio Tinto's share will be $800 million. RIO's investment in these projects underscores its commitment to Australian iron ore and the long-term sustainability of Pilbara's production.
In August 2025, the company approved an investment of $180 million for the Norman Creek access project, which will enable mining of the Norman Creek region of Amrun. Norman Creek is an integral development for the long-term sustainability of the company’s Weipa operations.
Rio Tinto Stock's Price Performance
In the past year, shares of the company have gained 6.2% compared with the industry’s 17.6% growth.
RIO’s Zacks Rank & Other Stocks to Consider
Rio Tinto currently sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks from the basic materials space are DRDGOLD Limited (DRD - Free Report) and The Mosaic Company (MOS - Free Report) . DRD flaunts a Zacks Rank #1 and MOS has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for DRDGOLD’s 2025 earnings is pegged at $1.62 per share. The estimate indicates year-over-year growth of 13.3%. DRDGOLD’s shares have skyrocketed 175% in a year.
The Zacks Consensus Estimate for The Mosaic Company’s 2025 earnings is pegged at $3.17 per share, indicating a year-over-year surge of 60.1%. The Mosaic Company’s shares jumped 31.5% last year.