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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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 129.45 | 129.24 | 129.25 | 0.00 | 01:00:00 |
From May 2019 to May 2024
By Anthony O. Goriainoff
Rio Tinto PLC (RIO.LN) said Tuesday that it will invest $1.5 billion over the next six years at its Kennecott copper operation in the U.S.
The Anglo-Australian miner said the investment will start in 2020 and is included in the company's capital-expenditure guidance of $7.0 billion in 2020, and $6.5 billion for both 2021 and 2022 as development capital.
The company said that this was a high-value and low-risk investment that will ensure the Utah-based operation produces copper and other critical materials until at least 2032.
"Kennecott is uniquely positioned to meet strong demand in the U.S. and delivers almost 20% of the country's copper production...this investment means it will continue to be a source of essential materials into the next decade," Rio Tinto said.
Shares closed down 55.50 pence, or 1.3%, at 4174.50 pence.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
December 03, 2019 11:55 ET (16:55 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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