Rio Tinto, Baowu Agree Joint Venture to Develop $2 Billion Australian Iron-Ore Project
13 Setembro 2022 - 8:58PM
Dow Jones News
By Rhiannon Hoyle
Rio Tinto PLC on Wednesday said it intends to form a joint
venture with China Baowu Steel Group Corp. Ltd. to develop the
$2-billion Western Range iron-ore project in Australia's Pilbara
region.
Rio Tinto said it will own 54%, and Baowu 46%, of the joint
venture that will develop the 25-million-metric-ton a year project.
Rio Tinto's share of the cost would be $1.3 billion, which is
already included in its capital expenditure guidance for the next
two years, the company said.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
September 13, 2022 19:43 ET (23:43 GMT)
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