Wednesday, May 23, 2007

Rio Tinto Considers $6 Billion Investment in Guinea Iron Ore Complex

(Bloomberg) -- Rio Tinto Group, the world's third-
largest mining company, is considering a plan to spend at least
$6 billion on a combined iron ore mine, railway and port
operation in the west African nation of Guinea.

The project, at the pre-feasibility stage, will involve
building an iron ore mine at Simandou and a 700-kilometer rail
link to a new deep-water port south of Guinea's capital of
Conakry, London-based Rio spokesman Nick Cobban said in an
interview yesterday.


Read more at Bloomberg Emerging Markets News

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