Rio Tinto to Invest $660 Million Over Seven Years to Extend Utah Mine -2029
June 19 2012 - 9:39AM
Dow Jones News
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
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