November 28, 2018 / 9:41 PM / 15 days ago

Rio Tinto to proceed with $2.6 bln iron ore mine in Western Australia

Nov 29 (Reuters) - Rio Tinto will proceed with a $2.6 billion investment in its Koodaideri iron ore mine in Western Australia, the miner said on Thursday.

It said in a statement that construction for the project would start in 2019, with first production expected in late-2021.

It added that the mine would have an annual capacity of 43 million tonnes, which is expected to underpin Rio’s production of its flagship Pilbara blend iron ore. (Reporting by Ambar Warrick in Bengaluru; Editing by Alison Williams)

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