Rio, Hancock $1.3b mine approved

RIO Tinto and Hancock Prospecting were last week granted approval to develop the $1.3 billion Hope Downs iron ore mine in the Pilbara. Premier Alan Carpenter granted approval for the development of a 30-million-tonnes-a-year mine. Mr Carpenter said the companies’ decision to formalise a joint venture for the mine was an important development. “The Hope Downs iron ore project will bring significant benefits to the Pilbara and the state with 1,000 jobs at peak construction and 300 permanent operational jobs,” he reportedly told media.

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