Reported about 10 hours ago
Rio Tinto and Hancock Prospecting are investing $1.61 billion in the Hope Downs 2 iron ore project located in Western Australia’s Pilbara region. This joint venture aims to produce 31 million metric tons annually from two iron ore pits, with processing set to begin at Hope Downs 1; first output is expected in 2027. Rio Tinto plans to invest over $13 billion in new mining ventures over the next three years.
Source: YAHOO