Rio Tinto Says Dampier Port Upgrade Project Completed

Rio Tinto Ltd. (RTP) said Friday it completed the US$1.4 billion upgrade of its Dampier Port in Western Australia on time and on budget.

Iron Ore Chief Executive Sam Walsh said the expansion boosts capacity at the port to 140 million metric tons a year from 74 million tons.

"The expansion of Dampier Port is another testimony to the ability of our teams to bring large projects to fruition on time and on budget," he said in a statement.

Walsh said Rio Tinto will continue to aggressively ramp up production to meet growing demand and is studying expansions of its iron ore operations in the Pilbara region of Western Australia to 320 million tons a year.

Two new shiploaders at the Parker Point wharf at the port allow two vessels to be loaded simultaneously and a 600 meter extension of the wharf allows four vessels to be berthed at one time.