Project Manager: Rio Tinto – RIO:ASX
Project Owner: Rio Tinto
Budget: $338m
Stage: Committed What does this mean?
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Rio Tinto has wasted no time starting work on its Silvergrass iron ore project, having already sought for expressions of interest from construction contractors.
The miner announced last week that it would spend a further $US338 million ($438 million) completing the mine, which was started more than a year ago under the “Nammuldi incremental tonnes” (NIT) project.
Much of the work in the earlier stages was contracted out to third parties, with ASX-listed NRW Holdings playing a big role.
The same approach seems likely to be taken for the latest chapter of the project.
Barely a week after board approval was granted to complete Silvergrass, Rio already has a construction contract out to tender, which is seeking expressions of interest for supply of power, a crusher and a conveyor belt.
Silvergrass will have just 22 trucks, and all of which will be autonomous.
