The African Business Journal: Rio Tinto and Hope Down’s billion dollar venture

Rio Tinto and Hope Down’s billion dollar venture
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World News on 01 September, 2010 05:44:00
 
TABJ Sep 1 - Rio Tinto, one of the world’s leading mining companies has
joined forces with Hope Downs Iron Ore Pty to build a new mine in Australia.
Rio will work with Hope  Downs to create the Hope  Downs 4 iron ore project
which will link to Rio’s already existing rail infrastructure.
The companies will spend about 1.2 billion dollars to develop the new mine. Hope
Downs, is owned by Gina Rinehardt, who is Australia’s richest woman.
Rio will pay 607 million dollars and Hope downs the rest for the 1.2 billion
dollar investment.