HomeMarket NewsRio Tinto Dives Into $6.2B Project to Develop Simandou Iron Ore Project...

Rio Tinto Dives Into $6.2B Project to Develop Simandou Iron Ore Project Share

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Iron Ore reclaimer machine and stockpile

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Roll up! Roll up! Rio Tinto (NYSE:RIO) is putting its bets on the table! The big news on the block is that Rio Tinto is estimating a whopping $6.2B to kickstart the Simandou iron ore project in Guinea. Can you imagine? That’s enough to make your eyes water!

Simandou, ladies and gentlemen, is believed to be the largest untapped high-grade iron ore deposit in the world! Rio Tinto, with its partners – China’s Chalco Iron Ore Holdings and the government of Guinea, is ready to roll the dice as it owns two of the four Simandou mining blocks. Now, isn’t that something to talk about?

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