Rio Tinto nearing Simandou deal, Guardian reports Rio Tinto is poised to ink a long-awaited investment agreement for the stalled $20B Simandou iron ore project in Guinea later this month, the Guardian reports, citing comments made by CEO Sam Walsh. The project will include a railway to carry iron ore from the Simandou mountain range to a deep-water port. Reference Link
News For RIO From The Last 14 Days
Check below for free stories on RIO the last two weeks.
Rio Tinto raises FY14 thermal coal production outlook to 17.5M tonnes The company's previous thermal coal production guidance was 16.7M tons. This follows a change in the production profile to produce additional higher margin thermal coal from a processing plant by-product stream at Hail Creek. As a result of this change and lower than expected production during the ramp up at Kestrel, Australian hard coking coal production has decreased to 7.4M tonnes, previously 8.2M tonnes. Semi-soft coking coal production guidance remains unchanged at 3M tonnes.Rio Tinto’s share of uranium production across Rössing and ERA in 2014 is expected to be between 4.3M-5.1M pounds. This follows operational changes at Rössing in response to current market conditions. Progression to full processing capacity at ERA is anticipated in Q3. Reference Link