Rio Tinto and its joint venture partners Mitsui and Nippon Steel & Sumitomo Metal have approved an investment of $1.55 billion to sustain production of Pilbara Blend, the Australian iron ore brand that is widely traded in the seaborne market.
The joint venture partners will invest $967 million to develop the Mesa B, C and H deposits at Robe Valley, and $579 million in developing Deposits C and D at the existing West Angelas operation in the Pilbara region of Western Australia, the miner announced on Monday October 1."The development at West Angelas will help sustain production of the Pilbara Blend,...