Rio Tinto has approved $146 million of funding for initial work at its Koodaideri iron ore project 110 miles west of Newman, Western Australia. The company expects to make a final investment decision for the project by the end of the year.
Subject to final investment and government approvals, Koodaideri will be Rio Tinto’s first “intelligent mine,” incorporating the latest in high-tech advances in the industry and utilizing an increased level of automation and robotics. More than 100 innovation opportunities have been identified in the project’s feasibility study
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