Rio Tinto Ltd
(ASX:RIO) says it has secured US$200 million in funding towards an expansion of its operations in the Pilbara of Western Australia.
The funding will allow Rio to issue dredging contracts as part of early works on the expansion of the Cape Lambert port.
The port expansion will enable Rio to increase the export capacity of its Pilbara operations to 330 million tonnes a year.
In addition a 1.8 kilometer four berth jetty and wharf has been proposed by the miner at Cape Lambert to increase its current annual capacity of 80 million tonnes by a further 100 million tonnes.
Rio Tinto recorded a profit of $5.4 billion in calendar 2009.
