Rio Plans ‘No-Brainer’ 50% Pilbara Expansion

SMH reported Rio Tinto (ASX:RIO) will put $US833 million into power and fuel supply projects for a 50% expansion of its Pilbara iron ore business.

The market news is quoted as saying,

The commitment was something of a “no brainer” given that iron ore has largely been immune from the sell-off in other commodities in response to slowing global economic growth.

The continued price strength of iron ore is delivering Rio record profit margins from its Pilbara iron ore operations.

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