Rio Tinto expects to spend $6.2B to develop Simandou iron ore project share (NYSE:RIO)


Iron Ore reclaimer machine and stockpile

Dazman/E+ via Getty Images

Rio Tinto (NYSE:RIO) said Tuesday it estimates its initial share of capital spending to develop the Simandou iron ore project in Guinea and associated rail and port infrastructure would total ~$6.2B.

Simandou is considered the world’s largest untapped high-grade iron

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