Rio looks to China to develop Africa mine
By Rebecca Bream
Published: May 14 2008 16:27 | Last updated: May 14 2008 16:27
Rio Tinto is seeking partnerships with Chinese steel and construction companies to help develop a $6bn (£3.08bn) West African iron ore mine, in what would be the mining group’s largest deal with China, its biggest customer.
Sam Walsh, head of Rio’s iron ore division, said in an interview with the Financial Times that the Simandou project in Guinea could eventually supply steelmakers in Europe and Asia with up to 170m tonnes of iron ore a year. The first phase of the mine’s development targets 70m tonnes a year by 2018.
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