RIO Tinto plans to spend up to $US8 billion ($8.7bn) expanding its iron ore mines in Western Australia to feed China’s urbanisation, in a further sign the nation’s mining investment has far from ground to a halt.
Rio yesterday said it expected by 2017 to add more than 60 million tonnes per year of iron ore production (it already has plans under construction for 290 million tonnes) by expanding existing mines in the Pilbara and through what it called low-cost productivity gains.
– See more at: http://www.theaustralian.com.au/business/mining-energy/rio-gives-mining-boom-a-9bn-lift/story-e6frg9df-1226770838317#sthash.LqLgZ0aD.dpuf