RIO rio tinto limited

News: RIO Rio Tinto Provides Update On Simandou Iron Ore Project

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    Dec 6 (Reuters) - Rio Tinto Ltd (RIO) :

    • SIMANDOU IRON ORE PROJECT UPDATE
    • PROVIDING AN UPDATE TODAY AT ITS INVESTOR SEMINAR ON SIMANDOU IRON ORE PROJECT
    • ESTIMATES INITIAL SHARE OF CAPEX TO DEVELOP SIMFER MINE AND CO- DEVELOPED RAIL AND PORT INFRASTRUCTURE PROJECT IS ABOUT $6.2 BILLION
    • RIO TINTO'S SHARE OF CAPITAL INVESTMENT REMAINING TO BE SPENT FROM 1 JANUARY 2024 IS EXPECTED TO BE $5.7 BILLION FOR SIMANDOU
    • REPORTING MINERAL RESOURCES EXCLUSIVE OF ORE RESERVES OF 1.4 BILLION TONNES AT 66.1% FE AND LOW IMPURITIES FOR SIMANDOU
    • FIRST PRODUCTION FROM SIMFER MINE IS EXPECTED IN 2025, RAMPING UP OVER 30 MONTHS TO AN ANNUALISED CAPACITY OF 60 MILLION TONNES PER YEAR
    • SIMFER MINE TO INITIALLY DELIVER A SINGLE FINES PRODUCT
 
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