....more iron ore supply next year amidst lower demand ahead.
....BHP hodlers placed on alert. Rio gets greenlight for Simandou investment
Joshua Peach
Rio Tinto has received approval from Guinean and Chinese authorities to invest in its Simandou high-grade iron ore project.
Rio is expected to put $US6.2 billion ($9.2 billion) into the project and surrounding infrastructure.
Rio plans to mine iron ore from two tenements in the Simandou mountains in Guinea through the Simfer joint venture, which features four Chinese companies including state-owned steel and aluminium giants Chinalco and Baowu.
