Rio Tinto, Mitsui Put $577M Behind Aussie Mine Expansion

Law360, New York (February 13, 2014, 6:22 PM EST) -- A joint venture between Rio Tinto PLC, Mitsui & Co. Ltd. and Nippon Steel & Sumitomo Metal Corp. will expand its iron mine in western Australia by developing the West Angelas mine for AU$642 million ($577 million), the venture said Thursday.

The venture, Robe River Iron Associates, hopes to start producing from the West Angelas mine's Deposit B by 2015, which would bring the mine's output from 29 million tons of iron ore per year to 35 million tons. Mitsui is investing AU$212 million and Nippon...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.