Iron Ore’s $250 Billion Glut Pressures Rio to Vale

Iron Ore’s $250 Billion Glut Pressures Rio to Vale

Ian Waldie/Bloomberg

A haul truck is loaded by a digger with material from the pit at Rio Tinto Group's West Angelas iron ore mine in Pilbara, Australia. Rio has approved a $5.9 billion expansion of port and rail facilities in Western Australia to boost export capacity to 360 million tons a year from 290 million tons.