Rio Tinto Seeking Approval for Weipa Bauxite Expansion in Australia

Sep 13, 2010 - Rio Tinto Group, the world's third- largest mining company, is seeking approval for a A$900 million ($837 million) expansion of its Weipa bauxite mining operation in Australia's Queensland state.
The expansion would include two new processing plants and a new port, London-based Rio said in a filing today to the federal Department of the Environment, Water, Heritage and the Arts.
The expansion would take three years and would start once it receives environmental approval, Rio said. The new operation would have capacity of 50 million metric tons a year and bauxite would be exported from the new port between Boyd Pt. and Pera Head, Rio said in the filing.
Rio wants to expand its operations to replace depleted reserves in nearby areas, it said. The company began a $30 million study into the development in 2008, it said on its website.
Rio gained 1.5 percent to A$75.36 at 2:03 p.m. Sydney time on the Australian stock exchange.
The expansion may cost A$900 million, the Queensland state government said in January 2009.