According to Mining News Pro -One of the world’s largest mining companies has approved a multi-billion-dollar investment, as it looks to sustain production at a joint venture iron ore project in the Pilbara region.

Rio Tinto announced in a statement this week that it, together with joint venture partners Mitsui and Nippon Steel & Sumitomo Metal, has approved an investment of $1.55 billion to sustain production capacity at the Mesa B, C and H deposits at its Robe Valley project and Deposits C and D at its West Angelas operation.

The company will invest $967 million (with Rio Tinto contributing $513 million) in Robe Valley and $579 million (of which Rio Tinto will contribute $307 million) in the West Angelas operation.

The investments will ‘enable Rio Tinto to sustain production of the Pilbara Blend, the world`s most recognised brand of iron ore, and its Robe Valley lump and fines products, which are highly valued by long-term customers.’