Rio Tinto announced on Thursday its plan to invest $1.8 billion in developing the Brockman Syncline 1 iron ore project in Western Australia’s Pilbara region.
The world’s largest iron ore producer confirmed that the project has secured necessary approvals from both state and federal governments, allowing it to commence production by 2027—one year ahead of the initial schedule.
This investment reinforces Rio Tinto’s long-term commitment to iron ore in Pilbara, a key profit driver, even as the company expands its focus on copper, a metal essential to the renewable energy transition.
“Brockman 4 produced 43 million tons of iron ore in 2024. Securing this project extends the life of the Brockman hub,” said Simon Trott, Chief Executive of Rio Tinto Iron Ore.
The Brockman Syncline 1 (BS1) development, which encompasses Brockman 4 and Greater Nammuldi, has a combined annual production capacity of approximately 130 million tons, according to the company.