Rio Tinto to invest a further R6.5bn in SA
The miner will expand operations at Richards Bay Minerals, which will prolong the life of the mine and its contribution to the economy
Global mining company Rio Tinto will invest R6.5bn to develop the next stage of Richards Bay Minerals (RBM), SA’s largest mineral sands producer and beneficiation company. The investment in the Zulti South project will sustain RBM’s current capacity and extend its life of mine by more than three decades. The development provides a welcome boost for SA’s mining industry, but also cements RBM’s position as KwaZulu-Natal’s leading taxpayer. Additionally, the investment can be counted among the projects launched under President Cyril Ramaphosa’s drive to attract some R1.4-trillion in investments to the ailing SA economy over the next five years. RBM, in which Rio Tinto holds a 74% stake, operates four mines in the Zulti North lease area and predominantly produces rutile, zircon, titania slag and high-purity iron. The business also operates a mineral separation plant and smelting facility. But parts of Zulti North have been mined for over 40 years, and the grade of the resource is declin...
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