PERTH, Australia--(BUSINESS WIRE)--The Rhodes Ridge Joint Venture has approved a $191 million (A$294 million) (Rio Tinto share $96 million, A$147 million) feasibility study to progress development of the first phase of the Rhodes Ridge project, one of the world's best undeveloped iron ore deposits, in Western Australia's Pilbara. The feasibility study will assess development of an operation with initial annual production capacity of 40 to 50 million tonnes of iron ore. The joint venture partner. ...