Key Takeaways RIO will invest $800M in the$1.6B Hope Downs 2 iron ore project with Hancock in Pilbara. The project will produce 31Mtpa from two deposits, with output sent to Hope Downs 1 for processing. Production will start in 2027, supporting 950 construction jobs and 1,000 operational roles long term.Rio Tinto Group (RIO) announced plans to invest $1.6 billion with Hancock Prospecting to develop the Hope Downs 2 iron ore project in Western Australia's Pilbara region, where Rio Tinto's share will be$8 ...