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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Rio Tinto Limited | ASX:RIO | Australian Stock Exchange | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.28 | 0.24% | 117.52 | 117.30 | 117.93 | 118.78 | 117.12 | 118.10 | 1,408,235 | 07:50:00 |
By Rhiannon Hoyle
Rio Tinto PLC on Wednesday said it intends to form a joint venture with China Baowu Steel Group Corp. Ltd. to develop the $2-billion Western Range iron-ore project in Australia's Pilbara region.
Rio Tinto said it will own 54%, and Baowu 46%, of the joint venture that will develop the 25-million-metric-ton a year project. Rio Tinto's share of the cost would be $1.3 billion, which is already included in its capital expenditure guidance for the next two years, the company said.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
September 13, 2022 19:43 ET (23:43 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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