Saturday , July 24 2021

Rio Tinto announces the development of the R6.5bn mine at KZN

The global mining group Rio Tinto has announced an R6.5bn ($ 463 million) investment in its mineral water business in Kwa-Zulu Natal.

On Monday, the company announced that the investment would keep Richards Bay Minerals (RBM) in power by developing a new mine called Zulti South.

RBM mainly produces rutile, zirconium, titanium slag and high purity. Since 2012, Rio Tinto has participated in 74% of RBM and manages operations.

Jean-Sébastien Jacques, executive director of Rio Tinto, stated in a statement that the group has a long history in South Africa.

"Today's investment highlights our commitment to decades and beyond. South America is one of the best undeveloped mineral sand deposits in the industry, and it will significantly expand RBM as a world class quartet asset."

Jacques said the market's long-term basic principles are still strong, and production from Zulti South will start in time to fill the expanded supply gap from the Zulti North mine.

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