RealNews

Rio postpones iron ore expansion

Rio Tinto, the world’s second-biggest iron ore producer, has postponed a $3 billion expansion to its Corumba iron ore mine in Brazil amid the global economic downturn. The $US2.15 billion ($A3.07 billion) expansion, flagged in July, would have increased the annual capacity of the mine from 2.4 million tonnes to 12.8 million tonnes from the fourth quarter of 2010.Full Story

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