Rio to invest in Australian coal mine

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Tom Albanese, chief executive of Rio Tinto, smiles during a news conference to announce the Anglo-Australian miners' $38.1 billion takeover bid for Canada's Alcan in Montreal July 12, 2007. Rio Tinto said on Monday it would spend US$793 million (393 million pounds) as its share of the cost to extend the Kestrel metallurgical coal mine in Australia. REUTERS/Christinne Muschi

Tom Albanese, chief executive of Rio Tinto, smiles during a news conference to announce the Anglo-Australian miners' $38.1 billion takeover bid for Canada's Alcan in Montreal July 12, 2007. Rio Tinto said on Monday it would spend US$793 million (393 million pounds) as its share of the cost to extend the Kestrel metallurgical coal mine in Australia.

Credit: Reuters/Christinne Muschi

SYDNEY | Mon Dec 17, 2007 5:29am GMT

SYDNEY (Reuters) - Rio Tinto (RIO.AX)(RIO.L) said on Monday it would spend US$793 million (393 million pounds) as its share of the cost to extend the Kestrel metallurgical coal mine in Australia.

The total cost of the work was $991 million, it said.

(Reporting by James Regan)
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