Rio Spends $700 Million at Simandou Iron Ore Project

Bloomberg reports Rio Tinto Group, the world’s second-largest mining company, has spent $700 million to date at the Simandou iron ore project in Guinea.

The article is quoted as saying,

“Our current plans for the mine, railway and port calls for the creation of tens of thousands of jobs during the construction phase and more than 4,000 full-time jobs once operational,” Tom Albanese, chief executive of the London-based company, also said today in e-mailed comments.

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