Rio Tinto will shortly start a review of its HIsmelt pig iron plant, which is on care and maintenance, as the leasehold on the land is set to expire this year.
Rio Tinto will shortly start a review of its HIsmelt pig iron plant, which is on care and maintenance, as the leasehold on the land is set to expire this year.
The mining major halted operations at the Kwinana plant in December 2008, after pig iron prices fell sharply in the wake of the GFC outbreak.
Rio then placed the plant on care and maintenance in March 2009, saying then that it would review the operation a year later.
In its annual report released today, Rio noted that the 100 per cent leasehold was due to expire this year, however the partners in the project had the option to renew the lease for a further 25 years.
Rio holds a 60 per cent interest in the project with Mitsubishi, Nucor and Shougang Steel holding the balance.
Rio spokesperson Gervase Green told WA Business News that Rio had not yet made a decision on HIsmelt's future, and a review on the operation will start soon.
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