Rio Tinto, China Baowu to Negotiate Iron-Ore JV Extension
19 December 2018 - 1:56PM
Dow Jones News
By Rhiannon Hoyle
SYDNEY--Rio Tinto PLC (RIO.LN) and China Baowu Steel Group
Corp., one of the world's biggest steelmakers, agreed to negotiate
a possible extension to an iron-ore joint venture in Australia, Rio
Tinto said.
An agreement has been signed that "reinforces" the Bao-HI joint
venture, which was established in 2002 and controls the Eastern
Ranges mine and Western Range project in the Pilbara region of
Western Australia state, said Rio Tinto, the world's second largest
mining company by value.
Rio Tinto--which owns 54% of the joint venture, with China Baowu
holding the rest--is looking at options for the Western Range
project, with a prefeasibility study scheduled for completion by
the end of next year.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
December 18, 2018 21:41 ET (02:41 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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