Business | Investment

Rio Tinto commits $4.2 billion for expansion

Rio Tinto Commits $4.2 billion for expansion

  • Bloomberg
  • Published: 00:00 June 21, 2012
  • Gulf News

 

 

Sydney: Rio Tinto Group, the world’s second-largest exporter of iron ore, has committed $4.2 billion to expanding mines in Australia’s Pilbara and the Simandou operation in Guinea as Chinese demand grows.It will spend $3.7 billion expanding a mine, building new port berths and extending railways in Western Australia as part of a plan to boost output to 353 million metric tons a year by 2015, the London-based company said in a statement today.

 

Gulf News
Retail Gold Rate
Business Editor's choice
Quick Access

  1. Markets

  2. Economy

  3. Property

  4. Aviation

Business Top Stories

  1. India’s Reliance plans $13b projects

  2. Businesses beware of the writing on the screen

  3. UAE stocks make little headway

  4. Stronger GDP growth to power India stocks rally

  5. US Congress eyes investment in Sharjah