Queensland suppliers awarded $900M of Rio Tinto’s Amrun bauxite project contracts – by Leo Oliver (International Business Times – March 23, 2017)

http://www.ibtimes.com.au/

Mining giant Rio Tinto has awarded contracts worth $1.38 billion for the development of the Amrun bauxite mine project. Of these, Queensland suppliers have received nearly two-thirds, amounting to $900 million, of the contracts. More than 500 companies have been associated with the project in the state.

The project, in Cape York Peninsula, includes the development of a mine, processing plant and bauxite stockpiles, warehouses, a power station and new barge, ferry and ship loading facilities. It is expected to substitute the East Weipa bauxite mine.

The volume of bauxite to be exported from Cape York following the development of the mine is forecast to surge by nearly 10 million tonnes a year. Production and shipping is expected to kick-off in the first half of 2019.

For a firm to bid for a contract worth more than$1 million with Rio Tinto, it needs to complete a Local and Indigenous Participation Plan. This is required to be submitted during the bidding process. When the firm secures the contract, it then needs to report the performance of their contractors.

According to Queensland Premier Annastacia Palaszczuk, Rio Tinto’s investment would greatly aid the state’s economy. “Rio Tinto’s significant investment in local and regional suppliers will provide a tremendous boost to the economy of Queensland,” Palaszczuk said.

For the rest of this article, click here: http://www.ibtimes.com.au/queensland-suppliers-awarded-900m-rio-tintos-amrun-bauxite-project-contracts-1547904

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