SOURCE: Industrial Info Resources

Industrial Info Resources

September 02, 2010 05:10 ET

Rio Tinto to Move Ahead With Plans to Develop Hope Downs 4 Iron Ore Project, an Industrial Info News Alert

BANGALORE, INDIA--(Marketwire - September 2, 2010) -  Researched by Industrial Info Resources (Sugar Land, Texas) -- Mining giant Rio Tinto plc (NYSE:RTP) (London, England) recently announced plans to invest US$1.6 billion to develop Western Australia's Hope Downs 4 iron ore project. The new mine will be connected to Rio Tinto's existing power, rail and port infrastructure in the Pilbara region. Rio Tinto expects to begin construction early next year, after obtaining the necessary regulatory approvals. When completed in 2013, the new open-cut mine is expected to produce 15 million tons per year of high quality iron ore.

Other companies featured: BHP Billiton plc (NYSE:BHP)

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