Rio Tinto’s Mount Thorley Warkworth Extension Gets Green Signal

Australian Mining reported that the Planning Assessment Commission has okayed Rio Tinto plc’s (ASX:RIO,NYSE:RIO,LSE:RIO) Mount Thorley Warkworth extension.

As quoted in the market news:

The company says the new applications will provide it with an integrated operation which can sustain mining within the existing footprint for the next 30 years.

It says the plan means the 1300 employees and contractors who work at the site will have job security.

In its assessment of the project, the Planning Assessment Commission said Rio’s plan to extend the life of mine was consistent with government policy and legislation.

New South Wales Minerals Council Chief Stephen Galilee stated:

Today, 1,300 workers at Mount Thorley Warkworth and their families are relieved to know that their economic future is a step closer to being secured for years to come.

Today’s decision by the PAC is great news for the mine employees and also for the ongoing economic stability of the the Upper Hunter. In 2014, Mount Thorley Warkworth spent $188 million with more than 270 suppliers in the Upper Hunter region.

Click here for the full Australian Mining report