Rio Tinto to restart $473 million South African mineral sands project
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FILE PHOTO: A view shows the Rio Tinto logo in Perth, Australia, April 19, 2025. REUTERS/Christine Chen/File Photo
March 2 (Reuters) - Rio Tinto has approved the restart of Richards Bay Minerals' $473 million Zulti South project in South Africa, the company said on Monday, six years after halting the venture due to community unrest.
Richards Bay Minerals, 74%-owned by Rio Tinto, mines the mineral-rich sands of South Africa's KwaZulu-Natal province, extracting mostly zircon, rutile, ilmenite and titanium oxide used in the manufacture of paint, sunscreen and smartphones.
The Zulti South project is key to Richards Bay Minerals' plans to extend the life of its operations to 2050 as the ore body at Zulti North declines, the company said in a statement.
"The decision to proceed also reflects improved security conditions and strengthened community partnerships," Richards Bay Minerals managing director Werner Duvenhage said.
China Harbour Engineering Company has been appointed as the engineering, procurement and construction contractor for the project.
Construction is scheduled to start during the first quarter of 2026, with initial commercial production expected in the fourth quarter of 2028.
(Reporting by Nelson Banya; Editing by Kirsten Donovan)
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