Business News
Rio Tinto piles more money into Australia's iron ore pits
Feb 8, 2012, 1:27 GMT
Sydney - Anglo-Australian miner Rio Tinto Ltd said Wednesday it would spend 3.4 billion US dollars to double iron ore production in the Pilbara region of Western Australia.
'We believe we have the best quality iron ore expansion projects anywhere in the world,' Rio Tinto iron ore chief Sam Walsh said in a statement.
'Today we are announcing another significant milestone in our drive towards a more than 50 per cent increase in the size of iron ore operations in Western Australia.'
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