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Mining giant Rio Tinto approved a $749m investment in its iron ore operations in the Pilbara region of Western Australia state.
The investment would flow into the Western Turner Syncline Phase 2 mine, located at the existing Greater Tom Price operations.
It would facilitate mining of existing and new deposits and included construction of a new crusher as well as a 13-kilometre conveyor.
Pending final government approvals, construction would start in the first quarter of 2020 with first ore from the crusher expected in 2021.
At 8:27am: (LON:RIO) Rio Tinto PLC share price was +36.5p at 4293.5p