🤝 Large joint venture
- Rio Tinto $RIO (+2.58%)
$RIO (-0.91%)
$RIO (+2.67%) & Hancock Prospecting invest USD 1.61 billion - Joint project: Hope Downs 2
- Participation: 50/50 partnership
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🏗️ New pits - high capacity
- Project includes Hope Downs 2 & Bedded Hilltop
- Planned annual production: 31 million tons of iron ore
- Ore will be transported to Hope Downs 1 for further processing
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🚚 First delivery in sight
- Production start planned for 2027
- Long-term infrastructure project in the Pilbara region, Western Australia
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📊 Rio Tinto's billion-euro plans
- Over the next 3 years:
- ➤ USD 13 billion planned for new mines, plants & equipment
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🧭 Strong sign for the iron ore market - Australia remains a commodities heavyweight! 🪨🇦🇺
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