Deals
Rio Approves Spending for Pilbara Iron Ore Expansion
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Rio Tinto Group, the world’s second-largest iron ore producer, approved $200 million in spending to start expanding its Pilbara iron ore operations in Australia by 50 percent.
The money will be used to start dredging work ahead of the development that will take annual capacity to 330 million metric tons by 2016, the London-based company said today in a statement. Rio now has capacity of 220 million tons a year.