Rio Tinto is investing $1.9 billion to develop the Kangwinan bauxite project in Queensland, aiming to increase annual production capacity by 20 million tonnes and extend the life of its Weipa Operations. The project will replace output from the aging Andoom mine and offset the closure of the Gove operation by 2029, with full production expected by 2032. This expansion will raise Weipa's annual capacity to about 44 million tonnes and improve supply chain efficiency through upgraded infrastructure. The investment is projected to deliver a 22% internal rate of return and support over 1,300 construction jobs, sustaining Rio Tinto’s workforce in the region.
As of Oct 23, 2026 14:11 WIB, Rio Tinto (RIO) trades at USD 84.40 on Pluang, up 0.31% for the day, well below its 52-week high of USD 112.04 but above the 52-week low of USD 67.89. The stock's dividend yield stands at 5.35%, reflecting steady income potential despite the recent expansion news. This price position highlights investor caution compared to the peak levels seen over the past year.
