25 NOVEMBER 2013www.businessspectator.com.au
Rio puts its Queensland bauxite project on hold
Edited by : AL CIRCLE
1 min read
In a move that marks a fresh setback for Queensland's mining sector, Rio Tinto has told contractors in the state that it has put its $1.4 billion South of Embley bauxite mine on hold for as long as 18 months, according to The Australian Financial Review.
The mine and port project had been approved by the federal government in May. Rio's decision comes in the wake of the state government's decision this past week to ban Cape Alumina's bauxite project in Cape York.
The prospect of delays to Rio's project could have a further ripple effect, as the project's port was expected to provide access to bauxite leases held by the Queensland government, which are likely to be sold within weeks.
“The project team is still working on getting all regulatory approvals, including the Queensland Land Court, in regards to our environmental authority,” a Rio Tinto Alcan spokesman told the AFR.
“The ongoing work is to ensure the project is well positioned to proceed towards the next stage of internal approvals once these regulatory steps are completed.”
The mine and port project had been approved by the federal government in May. Rio's decision comes in the wake of the state government's decision this past week to ban Cape Alumina's bauxite project in Cape York.
The prospect of delays to Rio's project could have a further ripple effect, as the project's port was expected to provide access to bauxite leases held by the Queensland government, which are likely to be sold within weeks.
“The project team is still working on getting all regulatory approvals, including the Queensland Land Court, in regards to our environmental authority,” a Rio Tinto Alcan spokesman told the AFR.
“The ongoing work is to ensure the project is well positioned to proceed towards the next stage of internal approvals once these regulatory steps are completed.”
Previous article
Cape Alumina considers options after Cape York bauxite project gets suspended
Next articleFirst Bauxite Corporation announces non-brokered private placement
Grow with
AL Circle
