Global Infrastructure SherpaRio Tinto approves $473 million Zulti South project investment for Richards Bay Minerals
USD473M
Deal Value
Rio Tinto approved a $473 million investment in the Zulti South heavy mineral sands project, extending the life of its Richards Bay Minerals (RBM) operation in KwaZulu-Natal, South Africa.
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Counterparts (2)
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Rio Tinto's $473 million commitment to Zulti South reactivates a project suspended since January 2020, securing Richards Bay Minerals' future in South Africa. This investment strategically extends RBM's mine life to 2050, ensuring long-term operational continuity. The move guarantees a stable supply of essential minerals including zircon, rutile, and ilmenite, critical for various industrial applications.
- A $473 million investment in the Zulti South project.
- Project suspension lifted after being in place since January 2020.
- Mine life extended by 30 years, to 2050.
- Focus on critical minerals: zircon, rutile, and ilmenite.
Timeline
Announced
Mar 2, 2026
Signed
Closed
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