Rio Tinto’s $400M Iron Ore Expansion in Canada

Rio Tinto has announced the beginning of the expansion program in its Iron Ore Company of Canada (IOC) operations.  The new investment is worth $401 million which was approved by the Board of IOC.

IOC Chairman and Rio Tinto chief executive, Iron ore Sam Walsh are quoted saying:

“Some uncertainty and potential volatility remain about global economic recovery, but global iron ore and steel markets have rebounded strongly and demand growth looks set to continue. This expansion programme is a significant step towards realising the full potential of our IOC operations.”

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