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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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1.34 | 1.03% | 130.85 | 129.51 | 130.99 | 131.175 | 128.98 | 130.37 | 1,812,454 | 09:50:00 |
From Apr 2019 to Apr 2024
By Carlo Martuscelli
Rio Tinto PLC (RIO.LN) said Monday that it will go ahead with $463 million investment in its majority-owned South African business Richards Bay Minerals.
The company, which owns 74% of Richards Bay Minerals, said the investment will help prolong operations as ore grade declines at the projects owned by the business. The funds will be used to open a new mine that will help sustain the supply of zircon and ilmenite.
Rio Tinto said it will not take on any additional debt to fund the investment, which will be the financed using Richards Bay Minerals' cash flow.
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
April 08, 2019 13:10 ET (17:10 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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