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Rio Tinto to buy Aurukun bauxite project from Glencore and Mitsubishi

The acquisition expands Rio’s bauxite footprint near its Welpa operations, and it still requires Queensland approvals, a mining lease, and engagement with Traditional Owners, the Wik Waya people.

Reported · Written up by our desk · Mining

Rio Tinto has agreed to acquire the Aurukun Bauxite Project in Queensland, a venture previously held by Glencore and Mitsubishi Development, according to a company spokesperson speaking to Reuters.

The deal would add to Rio’s existing bauxite operations in the region, where its Welpa operations are located about 200 km north. Weipa, part of Rio’s broader bauxite-alumina supply chain, produces more than 30 million tonnes of bauxite annually, which is refined into alumina and then processed into aluminum metal.

Glencore had a majority stake in Aurukun, while Mitsubishi held about 30%. The project remains under a Mineral Development Licence and has not yet received a Mining Lease, and the companies said Rio would provide the best path for future development because it already operates bauxite mines in the area.

The agreement also faces steps beyond closing, including Queensland government and other Australian regulatory approvals, and financial terms were not disclosed. Traditional Owners, the Wik Waya people, told The Australian they were not consulted about the sale and the planned operational changes, while Rio said it aims to continue discussions as the project progresses.

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