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Rio Tinto (NYSE:RIO) CEO Jean-Sebastien Jacques told The Times newspaper that the company will exit its massive Simandou iron-ore project in Guinea, Mining Weekly reported. As quoted in the publication: The world’s second biggest miner by market capitalization had been seeking financing for Simandou, even after a $1.1-billion writedown on the project in February. Last …
Rio Tinto (NYSE:RIO) CEO Jean-Sebastien Jacques told The Times newspaper that the company will exit its massive Simandou iron-ore project in Guinea, Mining Weekly reported.
As quoted in the publication:
The world’s second biggest miner by market capitalization had been seeking financing for Simandou, even after a $1.1-billion writedown on the project in February. Last month theAnglo-Australian company submitted a feasibility study to the Guinean government.