RIO News: Rio Tinto and Baowu agree to form joint venture to develop Western Range - 14th Sep 2022, 9:11am

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MELBOURNE, Australia, September 13, 2022--(BUSINESS WIRE)--Rio Tinto (54 per cent) and China Baowu Steel Group Co. Ltd (Baowu) (46 per cent) have agreed to enter into a joint venture with respect to the Western Range iron ore project in the Pilbara, Western Australia, investing $2 billion ($1.3 billion Rio Tinto share1) to develop the mine.

Western Range’s annual production capacity of 25 million tonnes of iron ore will help sustain production of the Pilbara Blend from Rio Tinto’s exi...

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