Rio Tinto to Invest $1.9 Billion in Australian Bauxite Project

03:45 AM EDT, 10/23/2026 (MT Newswires) -- Rio Tinto (RIO) said Friday it will invest $1.9 billion to develop the Kangwinan bauxite project in Queensland, Australia, adding production capacity and extending the life of its Weipa operations. The company said the project will add 20 million tonnes of annual bauxite production capacity, increasing Weipa's total capacity to about 44 million tonnes from current production of around 38 million tonnes. First output is targeted for 2029, with full production expected by 2032, the company said. The company said Kangwinan will replace output from the Andoom mine as it nears the end of its life this decade and help offset the planned closure of the Gove mine in 2029. The project will use existing infrastructure, including an expanded Amrun wharf, to improve shipping efficiency and reduce freight costs, the company added. Rio Tinto said the construction is expected to ramp up in 2027 and support more than 1,300 jobs. It added the project, together with its planned acquisition of the adjacent Aurukun Bauxite Project, is expected to sustain Weipa operations well beyond the middle of the century.