Rio Tinto Approves $146 Million Funding for Planned Iron Ore Mine
July 31 2018 - 8:32PM
Dow Jones News
By Rhiannon Hoyle
SYDNEY--Rio Tinto PLC (RIO.LN) said it will spend US$146 million
on initial work for its planned Koodaideri iron ore mine in Western
Australia ahead of a final decision on the project later this
year.
The mining company said the cash would be used for detailed
engineering work, development of a rail construction camp and the
first stage of a workers' camp for the mine.
Construction on the project, if approved by directors, will
start in 2019. The mine would be operational in 2021.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
July 31, 2018 20:17 ET (00:17 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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