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RIO Rio Tinto Limited

117.52
0.28 (0.24%)
31 Jan 2025 - Closed
Delayed by 20 minutes
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

Rio Tinto, Baowu Agree Joint Venture to Develop $2 Billion Australian Iron-Ore Project

14/09/2022 12:58am

Dow Jones News


Rio Tinto (ASX:RIO)
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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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