Bloomberg News

Rio Advances Study of Indian Iron Ore Mine as Local Demand Grows

June 06, 2012

Rio Tinto Group (RIO), the third-biggest mining company, said it’s advancing a study into developing an Indian iron ore mine as demand for steel in the country grows.

The world’s second-biggest iron ore exporter is considering an operation to produce an initial 3 million metric tons of the steelmaking raw material, with potential for expansion to at least 20 million tons a year, said Alan Davies, president of international operations for Rio’s iron ore unit.

The proposal is subject to board approval, Davies said in a presentation on Rio’s website.

“We will be the first global miner directly participating in India’s mining sector,” he said.

To contact the reporter on this story: Jesse Riseborough in London at jriseborough@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net


Ebola Rising
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus