June 14, 2011 11:06pm GMT
MELBOURNE, June 15 (Reuters) - World no.2 iron ore miner Rio Tinto is investing $676 million to speed up its iron ore expansion by six months to capture demand as rival plans to boost production are impeded.
Rio said on Wednesday it expects to increase its capacity by 50 percent to 333 million tonnes a year by the first half of 2015.
"We are taking the opportunity to bring forward the next phase of our major capacity expansion to reap the benefits early and at no additional cost," Rio Tinto iron ore chief executive Sam Walsh said in a statement. (Reporting by Sonali Paul; Editing by Balazs Koranyi, sourced
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment