11:54 AM EST, 03/02/2026 (MT Newswires) -- Rio Tinto (RIO) approved a $473 million investment in the Zulti South mining project near Richards Bay, South Africa, lifting a suspension that has been in place since January 2020.

The company said Monday that the investment will extends the mine's life to 2050 and ensure operational continuity for its Richards Bay Minerals unit by maintaining a stable supply of zircon, rutile, and ilmenite and supporting titanium dioxide sales.

China Harbour Engineering was appointed as the engineering, procurement and construction contractor for Zulti South.

Construction is expected to start in Q1 and will take 30 months, with initial commercial production forecast in Q4 2028.

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