Rio Tinto to Jointly Invest $733M in West Angelas Sustaining Project

Rio Tinto Group RIO announced that it will jointly invest to develop the West Angelas Sustaining Project as part of its Robe River Joint Venture with Mitsui & Co. MITSY and Nippon Steel. This move showcases solid partnerships within the joint venture and the Yinhawangka and Ngarlawangga Peoples.Details of Rio Tinto’s West Angelas Sustaining ProjectRIO will invest $733 million with Mitsui and Nippon Steel, wherein Rio Tinto's share will be $389 million. The West Angelas Sustaining Project aims to develop iron ore deposits in the West Angelas hub, which has been a key part of Rio Tinto Iron Ore since 2002.RIO, Mitsui and Nippon Steel have received all the required approvals from the State and Federal Government  to develop the project. The project will keep maintaining the West Angelas hub's 35 million tons of annual production capacity, extending mining life. The project will utilize the existing West Angelas processing infrastructure, and construct a new infrastructure and 22 km of haul roads. Rio Tinto, along with the Yinhawangka and Ngarlawangga Peoples , has curated Social Cultural Heritage Management Plans for the West Angelas Sustaining Project, ensuring the protection of cultural heritage and the environment. The project will create 600 jobs and employ 950 people for equivalent roles at the West Angelas hub.RIO’s Focus on Mine InvestmentThe company is set to invest more than $13 billion in new mines, plants and equipment between 2025 and 2027.In May 2025, the company announced that it would invest $1.2 billion (CAD $1.7 billion) to modernize its 100-year-old Isle-Maligne hydroelectric power plant in Quebec, Canada. This is RIO’s most significant investment in its hydroelectric assets in more than seven decades.In June 2025, it announced plans to invest $1.6 billion with Hancock Prospecting to develop the Hope Downs 2 iron ore project in Western Australia's Pilbara region, where Rio Tinto's share will be $800 million. RIO's investment in these projects underscores its commitment to Australian iron ore and the long-term sustainability of Pilbara's production.In August 2025, the company approved  an investment of $180 million for the Norman Creek access project, which will enable mining of the Norman Creek region of Amrun. Norman Creek is an integral development for the long-term sustainability of the company’s Weipa operations.Rio Tinto Stock's Price PerformanceIn the past year, shares of the company have gained 6.2% compared with the industry’s 17.6% growth.  Image Source: Zacks Investment Research RIO’s Zacks Rank & Other Stocks to ConsiderRio Tinto currently sports a Zacks Rank #1 (Strong Buy).Some other top-ranked stocks from the basic materials space are DRDGOLD Limited DRD and The Mosaic Company MOS. DRD flaunts a Zacks Rank #1 and MOS has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. The consensus estimate for DRDGOLD’s 2025 earnings is pegged at $1.62 per share. The estimate indicates year-over-year growth of 13.3%. DRDGOLD’s shares have skyrocketed 175% in a year.The Zacks Consensus Estimate for The Mosaic Company’s 2025 earnings is pegged at $3.17 per share, indicating a year-over-year surge of 60.1%. The Mosaic Company’s shares jumped 31.5% last year. 5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in the coming year. While not all picks can be winners, previous recommendations have soared +112%, +171%, +209% and +232%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Mitsui & Co. (MITSY): Free Stock Analysis Report Rio Tinto PLC (RIO): Free Stock Analysis Report The Mosaic Company (MOS): Free Stock Analysis Report DRDGOLD Limited (DRD): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks