Rio Tinto to Go Ahead with US$2.6 Billion Australia Iron-ore Mine
November 28 2018 - 5:08PM
Dow Jones News
By Rhiannon Hoyle
SYDNEY--Rio Tinto PLC (RIO.LN) said its board has approved plans
to spend US$2.6 billion developing the Koodaideri iron ore mine in
Western Australia.
The mining company will start building the operation next year,
and expects it to be producing iron ore by late 2021. At full
capacity, it will produce 43 million metric tons of iron ore a
year.
Rio Tinto also approved a US$44 million prefeasibility study
into a possible later expansion of the operation, that could
increase production to 70 million tons or beyond, said the
company.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
November 28, 2018 16:53 ET (21:53 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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