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via seekingalpha.comBusiness & Companies

Rio Tinto commits $1.9B to develop Kangwinan bauxite project in Australia

FROM THE WIRE · SEEKINGALPHA.COM

[Bauxite rocks on conveyor in mining tunnel] ZenitX/iStock via Getty Images Rio Tinto (RIO [https://seekingalpha.com/symbol/RIO]) said Thursday it plans to spend $1.9B to develop…

Read at the source ↗
MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: neutralThe investment expands Weipa capacity and replaces the depleting Andoom mine output.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Rio Tinto will spend $1.9 billion on the Kangwinan project.
  2. 02Weipa capacity will rise to about 44 million tonnes a year from 38 million.
  3. 03The project replaces output from the Andoom mine at end of life.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Rio Tinto GroupRIOStock84.14 USDMarket closedtoday -3.20%Positive
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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