Simandou investment approaches $3B

APPROVING a further $US211 million ($A205 million) study and opening the purse springs with $1.1 billion committed to the next stage of development works, Rio Tinto has brought its investment spend on the Simandou iron ore property in Guinea to $3 billion.

Simandou investment approaches $3B Simandou investment approaches $3B Simandou investment approaches $3B Simandou investment approaches $3B Simandou investment approaches $3B

The project is being developed by Rio with its partners Chalco and the World Bank’s International Finance Corporation and is set to deliver first shipments by mid-2105.

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