Rio Tinto approves $1.6 bln for new iron ore mine
SYDNEY |
SYDNEY Aug 30 (Reuters) - Rio Tinto (RIO.AX) (RIO.L) has approved $1.6 billion to expand its Hopes Downs iron ore mine project in Australia, the company said on Monday.
The new open-cut mine will have an annual capacity of 15 million tonnes of high-quality iron ore, with first production anticipated in 2013, it said. (Reporting by James Regan; Editing by Ed Davies)
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