The Rhodes Ridge Joint Venture, led by Rio Tinto, has approved a US$191 million (A$294 million) feasibility study for a new iron ore mine in Western Australia. This first phase aims for an annual production capacity of 40 to 50 million tons. Rio Tinto owns 50% of the project, Mitsui holds 40%, and AMB Holdings has a 10% share.

The feasibility study is expected to be finished in 2029, with the first shipment of ore expected in 2030.

Located 40 km north-west of Newman, the project will use Rio Tinto's existing rail, port, and power infrastructure. The joint venture partners also plan to invest another US$146 million (A$225 million) on exploration between 2026 and 2028. This long-term project helps Rio Tinto maintain its total iron ore output in the Pilbara region.