Rio Tinto to Invest $2.15 Billion in Brazilian Iron Ore Mine Expansion, an Industrial Info News Alert
Researched by Industrial Info Resources (Sugar Land, Texas) — Rio Tinto plc (NYSE:RTP) (London) recently approved a $2.15 billion investment in a major expansion of an iron ore mine in Corumba, Mato Grosso do Sul, in Brazil. The first phase of the project will boost the mine’s annual capacity from 2 million tons per year to 12.8 million tons per year, with production commencing in the fourth quarter of 2010.
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SOURCE: Industrial Info Resources