RIO Rio Tinto Plc

LONDON--Rio Tinto PLC (RIO.LN), a mining company, announced Tuesday it will invest 660 million U.S. dollars over the next seven years to extend the life of its Kennecott Utah Copper Bingham Canyon mine in Salt Lake City from 2018 to 2029.

MAIN FACTS:

-Will enable production at 180 tonnes of copper, 185 thousand oz of gold and 13.8 thousand tonnes of molybdenum a year from 2019 through 2029.

-Investment includes construction of mine infrastructure and new equipment to support pushing back the south wall of the mine.

-First ore from the south wall push back expected in 2017.

-Shares at 1305 GMT up 78 pence, or 2.6%, at 3,041 pence valuing the company at GBP42.9 billion.

-Write to Ed Ballard at ed.ballard@dowjones.com