Rio Tinto to Invest $3.1bn in Expansion Plans

20 October 2010 (Last Updated October 20th, 2010 18:30)

Global miner Rio Tinto will invest $3.1bn in expanding its iron-ore infrastructure in Western Australia. The venture will hike the company's capacity to 283 million tons a year, a 28% increase on the current capacity, by 2013. The investment will support port and rail infrastructu

Global miner Rio Tinto will invest $3.1bn in expanding its iron-ore infrastructure in Western Australia.

The venture will hike the company's capacity to 283 million tons a year, a 28% increase on the current capacity, by 2013.

The investment will support port and rail infrastructure works around Cape Lambert in the Pilbara region, including a two-berth wharf and a new stockyard.

The news follows last week's announcement that Rio has increased its year-on-year iron ore production by 10%.

Rio also announced that it will scrap plans for a joint venture with BHP Billiton, which would have saved the companies $10bn, according to The Guardian.