Rio Tinto Group (RIO) and WA Government Announce Partnership to Expand Dampier Seawater Desalination Plant

Rio Tinto Group (NYSE:RIO) is one of the best undervalued stocks to invest in right now.

On March 4, Rio Tinto Group (NYSE:RIO) and the Western Australian Government announced that they had entered into a 50:50 joint venture to complete both Stage 1 and Stage 2 of the Dampier Seawater Desalination Plant. The plant will deliver 8GL of desalinated water per year to the West Pilbara Water Supply Scheme once fully operational, which would reduce pressure on regional aquifers. Management further reported that construction of Stage 1 of the desalination plant is underway, and is anticipated to begin delivering 4GL of annual desalination capacity later this year.

It further announced the commencement of the Stage 2 construction, which would add a further 4GL of annual capacity, with the first water anticipated in 2027. Stages 1 and 2 would, when taken together, considerably reduce abstraction from the Bungaroo and Millstream aquifers. The West Pilbara Water Supply Scheme is operated by Water Corporation and supplies the towns of Karratha, Wickham, Dampier, Roebourne, Point Samson, and the industrial areas of Cape Lambert and the Burrup Peninsula.

Rio Tinto Group (NYSE:RIO) reported that the joint venture builds on a 2025 Memorandum of Understanding, under which the company and the WA Government agreed to work together to bolster water security in the Pilbara.

Rio Tinto Group (NYSE:RIO) explores, mines, and processes mineral resources. Its operations are divided into the following business segments: Copper, Iron Ore, Aluminium, and Minerals.

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