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Article: Rio Tinto invests US$2.4 billion in two new iron ore mines in the Pilbara.
- Article from:
- PR Newswire
- Article date:
- November 26, 2007
CopyrightCOPYRIGHT 2007 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LONDON, UK, Nov. 26 /PRNewswire-FirstCall/ -- Rio Tinto has announced a further significant investment in its iron ore export capacity in the Pilbara region of Western Australia, with the approval of the new Mesa A/Warramboo mine in the Robe Valley and Brockman 4 mine near Tom Price.
The combined investment of US$2.42 billion (nominal terms, 100 per cent basis) in the two mines will ensure that Rio Tinto's leadership of the Pilbara matches its unparalleled global position in the iron ore industry. The mines will begin production in 2010.
Sam Walsh, Chief Executive Rio Tinto Iron Ore, said the new mines were integral to the Pilbara production platform ...