Rio Tinto, Mitsui, and Nippon Steel to Contribute $733 Million to West Angelas Sustaining Project
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 07 2025
0mins
Source: NASDAQ.COM
Investment in West Angelas Sustaining Project: Rio Tinto, Mitsui, and Nippon Steel are investing a total of US$733 million in the West Angelas Sustaining Project in Western Australia, with Rio Tinto contributing US$389 million. The project aims to unlock new iron ore deposits and maintain an annual production capacity of 35 million tonnes.
Job Creation and Future Production: The project is expected to create approximately 600 jobs during construction and support around 950 full-time equivalent roles once operational, with first production anticipated in 2027. Additionally, progress is ongoing for the Rhodes Ridge pre-feasibility study, targeting an initial capacity of up to 40 million tonnes per annum by 2030.
Analyst Views on RIO
Wall Street analysts forecast RIO stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for RIO is 83.70 USD with a low forecast of 68.00 USD and a high forecast of 129.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
2 Buy
4 Hold
0 Sell
Moderate Buy
Current: 87.300
Low
68.00
Averages
83.70
High
129.50
Current: 87.300
Low
68.00
Averages
83.70
High
129.50
About RIO
Rio Tinto plc is a United Kingdom-based mining and materials company. It operates in over 35 countries, and its portfolio includes iron ore, copper, aluminum and a range of other minerals and materials. Its segments include Iron Ore, Aluminum, Copper, and Minerals. The Iron Ore segment includes iron ore mining and salt and gypsum production in Western Australia. Its iron ore operations in Pilbara comprise an integrated network of over 18 iron ore mines and four independent port terminals. The Aluminum segment includes bauxite mining, alumina refining, and aluminum smelting and recycling. The Copper segment includes mining and refining of copper, gold, silver, molybdenum, other by-products and licensing of extraction technologies. The Minerals segment includes mining and processing of borates, diamonds, iron concentrate and pellets from the Iron Ore Company of Canada, lithium and titanium dioxide feedstock.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
