|
Rio Tinto plans US$4.2 billion investment to develop iron ore operations
|
It’s reported that the Australian Rio Tinto planned to invest US$4.2 billion to expand its iron ore business, including US$3.7 billion for expansion of its Pilbara plant in Western Australia and US$501 million for further infrastructure development at the Simandou iron ore project in Guinea respectively.
The company expected the improved demand in Chinese consumption would contribute the annual steel production approximately from 700 million tons to 1 billion tons for 2030.
Meanwhile, Rio Tinto also planned to develop its Simandou project for supporting from the government of Guinea progresses and it aimed to develop the infrastructure included rail and port facilities.
News Date
6/21/2012 12:16:26 AM
reported by
Jacky Huang
|
|
|
|
|