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Rio Tinto Share News (RIO)
|Share Name||Share Symbol||Market||Type||Share ISIN||Share Description|
|Rio Tinto||LSE:RIO||London||Ordinary Share||GB0007188757||ORD 10P|
|Price Change||% Change||Share Price||Bid Price||Offer Price||High Price||Low Price||Open Price||Shares Traded||Last Trade|
|Industry Sector||Turnover (m)||Profit (m)||EPS - Basic||PE Ratio||Market Cap (m)|
IFC To Invest $150 Million In Rio Tinto's Simandou Project -Report
Dow Jones News
International Finance Corp., the development financing arm of the World Bank, plans to invest US$150 million in equity in Rio Tinto PLC's (RIO) Simandou iron ore project in Guinea as the venture aims for production by 2015 at an initial cost of US$13 billion, The Australian newspaper reported Tuesday.
The IFC said the additional investment was to "help cover costs as the project continues to progress in development," the newspaper said.
The Washington-based IFC acquired a 5% stake in the venture in 2006. Rio holds a 50.35% interest and Aluminum Corporation of China Ltd. (ACH) has 44.65%.
Newspaper website: http://www.theaustralian.news.com.au
-By Melbourne bureau; +61 3 9292 2094; firstname.lastname@example.org