Rio Tinto invests another 1.2 billion dollars in Australia

AFP.com reports that Rio Tinto (NYSE:RIO) has announced it plans to invest $1.2 B in Australia, to further fund iron ore projects.

The story is quoted as saying:

Rio Tinto has approved a further 1.2 billion US dollar investment in its drive to lift annual iron ore production capacity in Western Australia’s Pilbara region to 283 million tonnes per annum (Mt/a),” it said in a statement.

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