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China’s political fallout with Australia in 2020 prompted an expedited effort by China to seek other sources of iron ore, like the Simandou mine in Guinea.
Australia’s ‘millionaires factory’ has given Rio Tinto’s update on its slated $9.5 billion investment towards the mega Simandou iron ore project the thumbs up.
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Rio Tinto said Wednesday it expects to spend roughly $6.2 billion to develop its share of the Simandou iron ore project in Guinea. The iron ore buried in…
A big African iron ore project will drive Rio’s spending to $45b over the next three years, and it would be higher if not for deferred decarbonisation spending.