Rio Tinto, BHP explore joint iron ore development in Pilbara

Rio Tinto and BHP have agreed to explore collaboration to extract up to 200 mln tons of iron ore from their neighboring Yandicoogina and Yandi operations in the Pilbara. Under two non-binding memoranda of understanding, the companies will assess joint development of Rio Tinto's Wunbye deposit and the supply of ore from BHP's Yandi Lower Channel Deposit for processing at Rio Tinto's existing wet plants under agreed commercial terms. The proposals build on a 2023 agreement that enabled joint mining of the Mungadoo Pillar, unlocking previously inaccessible ore along a shared tenure boundary. The companies will progress a conceptual study followed by an order-of-magnitude study, with first production potentially targeted for the early 2030s, subject to final investment decisions, regulatory approvals, joint venture arrangements, and engagement with Traditional Owners, as required under Australian law for projects located on or near indigenous land.