- Rio Tinto (NYSE:RIO) intends to invest $395M on a seawater desalination facility in the Pilbara, Western Australia, for its coastal activities and the communities in the area, which includes construction of a new supply pipeline to connect to the existing water network.
- The proposed Dampier Seawater Desalination Plant will be situated within Rio Tinto's (RIO) current iron ore port operations at Parker Point, subject to permission from the Commonwealth and State Governments.
- With the ability to grow to eight gigalitres in the future, it will initially have a nominal yearly capacity of four gigalitres.
- Construction is anticipated to start in 2024, and the facility is anticipated to be operational and producing water in 2026, subject to necessary permissions.
- The planned $395M spend on the plant is included in Rio Tinto's (RIO) sustaining capital expenditure.
- Rio Tinto's (RIO) capital expenditure guidance of $9B-$10B in both 2024 and 2025 remains unchanged.
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