Whilst we wait on hearing more about Koodaideri, it has already...

Whilst we wait on hearing more about Koodaideri, it has already quietly become ‘Koodaideri phase 1’ !!

“A further 27 million tonnes of capacity could be added as part of Koodaideri phase 2 with a $44 million pre-feasibility study approved, according to the miner, and a final investment decision hinging on the outcome of further studies”

The quote is from a story in The Australian on Saturday
https://www.theaustralian.com.au/bu...a/news-story/80db22f920a8dbf641dc040533ff25fb
I have added a bit more frimmthecsecond half if it below .

“Rio chief Jacques vows to stick with ‘value over volume’ mantra

PERRY WILLIAMS  MARCH 09, 2019
...........
......Mr Jacques’ focus on margins and profitability over increased production has been a marked point of difference to his predecessors, yet Rio’s world-leading iron ore operations have continued to lift output under his watch.

The ongoing increase in output is being driven by Rio’s driverless rail network, which was finally delivered last year, and the ongoing ramp-up of its new Pilbara mines.  Rio decided in November to invest $3.6bn developing its new 43 million-tonne-per-annum Koodaideri iron ore mine.

Along with rivals BHP and Fortescue Metals, Rio has noted that labour conditions had played a part in the rise in capital costs at Koodaideri after studies suggested the mine would cost $US2.2bn.

A further 27 million tonnes of capacity could be added as part of Koodaideri phase 2 with a $44 million pre-feasibility study approved, according to the miner, and a final investment decision hinging on the outcome of further studies.

Rio expects it will deliver an internal rate of return of 20 per cent and capital intensity of $60 a tonne, which it considers “highly competitive” for a new mine given rail, airport, camp and road access required.

Significant uncertainties for the iron ore market still swirl around the response from Brazil authorities and the supply-side reaction from Chinese producers.

The catastrophe came less than four years after the similar accident at a nearby dam owned by BHP and Vale, in a town called Mariana, also in Minas Gerais state, which contaminated hundreds of kilometres of river valley with mining waste.”