Sept 14 (Reuters) - Rio Tinto Ltd (RIO) :
- RIO TINTO AND BAOWU AGREE TO FORM JOINT VENTURE TO DEVELOP WESTERN RANGE
- RIO TINTO AND CHINA BAOWU STEEL GROUP CO. LTD HAVE AGREED TO ENTER INTO A JOINT VENTURE
- JOINT VENTURE WITH RESPECT TO WESTERN RANGE IRON ORE PROJECT IN PILBARA
- JOINT VENTURE INVESTING $2 BILLION ($1.3 BILLION RIO TINTO SHARE) TO DEVELOP MINE
- WESTERN RANGE'S ANNUAL PRODUCTION CAPACITY OF 25 MILLION TONNES OF IRON ORE WILL HELP SUSTAIN PRODUCTION OF PILBARA BLEND
- WESTERN RANGE CONSTRUCTION IS EXPECTED TO BEGIN IN EARLY 2023 WITH FIRST PRODUCTION ANTICIPATED IN 2025
- CO'S SHARE OF CAPITAL COSTS ARE ALREADY INCLUDED IN GROUP'S CAPITAL EXPENDITURE GUIDANCE OF AROUND $9-10 BILLION FOR EACH OF 2023 AND 2024
- RIO TINTO AND BAOWU HAVE ALSO AGREED TO ENTER INTO AN IRON ORE SALES AGREEMENT AT MARKET PRICES
- IRON ORE SALES AGREEMENT COVER TOTAL OF UP TO 126.5 MILLION TONNES OF IRON ORE OVER APPROXIMATELY 13 YEARS
News: RIO Rio Tinto And Baowu Agree To Form Joint Venture To Develop Western Range
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