Iron awe: the key to Rio's future

RIO Tinto’s faith in demand for iron ore from China is undiminished despite global rumblings of a slowdown, with the massive miner approving the $US2.4 billion ($A2.72 billion) development of two new iron ore mines in Western Australia. And in virtually the same breath, the company also outlined a “conceptual pathway” to increase its yearly production of the commodity to 600 million tonnes per year.

Iron awe: the key to Rio's future Iron awe: the key to Rio's future Iron awe: the key to Rio's future Iron awe: the key to Rio's future Iron awe: the key to Rio's future

Rio said its "conceptual pathway" for iron ore growth included expanding its iron ore production from Western Australia's Pilbara region to some 420Mtpa.