Rio’s massive Pilbara expansion gathers pace

Rio’s massive Pilbara expansion gathers pace
The pieces of Rio Tinto’s $US14.8 billion ($14.5 billion) iron ore puzzle are gradually falling into place after the mining giant yesterday sanctioned more infrastructure work required for its massive Pilbara expansion push.
At a cost of $US520 million, Rio will upgrade its power and gas network by installing three new 40 megawatt open-cycle gas turbines. Two will be installed as part of a new power station at the West Angelas mine while the third will be added to the Yurralyi Maya plant near Dampier. The extra 120MW of electricity-generating capacity will allow Rio to support iron ore production of up to 283mtpa.
A further $US313 million will be spent upgrading Rio’s fuel infrastructure, adding 56 megalitres of storage at the Parker Point terminal at Dampier as well as two inland distribution hubs.
The overall $US833 million commitment announced by Rio yesterday continues the run of incremental approvals as part of its overall 333mtpa push.
Although the final 50mtpa increment to take output to 333mtpa officially remains in the feasibility stage – Rio’s board has so far sanctioned the expansion to only 283mtpa – much of the extra infrastructure investment approved over the past year is designed with the 2015 production target in mind.
Only last week, Rio committed $US310 million to ensure it had sufficient water to cater for output of 333mtpa. The commitment included spending on a new bore field near Pannawonica and a water supply network to replace Rio’s existing supply from the Millstream system. Rio handed priority entitlements to Millstream back to the WA Government in return for exemption on iron ore downstream processing obligations.
The new bore field, in the lower Bungaroo Valley, should be on stream by the middle of 2013, around the time Rio expects the expansion to be at 283mtpa.
Rio is operating at a rate of 225mtpa but iron ore boss Sam Walsh has already flagged a long-term target of 433mtpa.
Much of Rio’s $US13 billion budget for growth projects worldwide over the next 18 months is destined for its Pilbara iron ore business.
Iron ore prices remain at record levels, with the spot price for 62 percent iron cargoes to the Chinese port of Tianjin at $US179 a tonne.
Efforts by Pilbara iron ore giants Rio, BHP Billiton and Fortescue Metals Group to expand their operations are paying dividends for many local contractors.
Southern Cross Electrical Engineering shares jumped almost 6 percent to 75cents yesterday after it signed a framework agreement with Rio. It means Southern Cross is Rio’s preferred contractor for the next five years at the miner’s Cape Lambert port.
力拓加紧步伐 皮尔巴拉扩张力度加大
力拓价值高达148亿美元（折合澳币145亿）的铁矿石项目扩建计划正逐步到位。昨天此矿业巨鳄决定进行更多的基础设施工作，以推进其皮尔巴拉扩建工作。
力拓将花费美金5.2亿升级其电力和燃气网路，加装三台新的40兆瓦的开放式燃气涡轮机。其中两台将安装在西安格拉斯（West Angelas）矿山的新电厂，第三台将添加到丹皮尔附近的与拉伊玛雅（Yurralyi Maya）电厂。这额外的120兆瓦的发电能力能让力拓的铁矿石生产力增加到每年2.83亿吨（283mtpa）。
力拓的燃油基础设施也将得到3.13亿投资，丹皮尔附近的帕克角油站（Parker Point）以及其他两处内陆燃油分储中心的存储能力将增加56兆升。
力拓有扩建计划，将产量提升至年产量3.33亿吨。昨天力拓宣布的总额为8.33亿美元的投资是在逐步实现其扩建计划。
虽然要达到年产量为3.33亿吨还需要最后的每年5千万的增产，而这部分增产还处于可行性研究阶段，力拓董事会目前已经决定的是将年产量增加至2.83亿吨，但过去一年批准的额外的基础设施投资，在设计时多数都将2015年的目标产量考虑在内。
仅上星期，力拓就投资了美元3.1亿以确保有足够的供水能保证达到3.33亿吨年产量。投资包括在潘那万尼克（Pannawonica）附近修建新的水井，并兴建新的供水系统来代替目前的从米尔溪流（Millstream）来的供水系统。力拓将米尔溪流的优先使用权交还给了西澳政府，以求免除铁矿石下游选矿的义务。
新的水井区位于邦加陆山谷下游，预计2013年年中可以产水。力拓也预计在此时能增产至每年2.83亿吨。
力拓目前的产量为每年2.25亿吨，但其铁矿石部分的负责人山姆沃尔石（Sam Welsh）已经亮出年产量为4.33亿吨的长远目标。
力拓未来18个月的增长预算为130亿美元，其中大部分将用于其皮尔巴拉铁矿石运营的扩建。
铁矿石价格不断创下新纪录，含量为62%的铁矿石现货在天津港的价格是179美元一吨。
皮尔巴拉铁矿石巨鳄力拓、必和必拓以及福特斯都在竭力扩张运营，这种形势对当地的许多承包商都非常有利。
南十字星电气工程公司昨天与力拓签订了框架协议后，股票猛涨6个百分点至每股75仙。此协议也就意味着南十字星是力拓未来五年在皮尔巴拉港口首选承包商。
（摘自西澳大利亚人报16/09/2011）