Rio Tinto and Western Australia Government to Sell Stakes in $770M Desalination Plant
Rio Tinto (RIO) and the government of Western Australia have agreed to sell their equal stakes in a joint venture controlling the Dampier Seawater Desalination Plant. The facility, valued at approximately $770 million, will be acquired by Yindjibarndi WaterCo under an agreement expected to finalize by late 2026. The desalination plant is critical for supplying water in Western Australia's Pilbara region and supports mining operations in the area. The sale reflects a strategic shift as both parties look to divest non-core assets, while Yindjibarndi WaterCo—a company linked with Indigenous ownership—will take over management of this essential infrastructure. The transaction is expected to have limited direct impact on Rio Tinto's core mining operations but may influence perceptions around the company’s commitment to local partnerships and sustainable resource development.
Tickers: $RIO
Topics: government_partnership infrastructure water_management