Business Services Industry
Rio may revive mothballed Canadian iron site.
Australasian Business Intelligence, September, 2005
Byline: Andrew Trounson
Sep 20, 2005 (The Australian - ABIX via COMTEX) -- Strong demand for iron pellets may prompt Rio Tinto to recommence a Canadian production
line. The Iron Ore Company of Canada (IOC) facility was in the process of a $C360 million refurbishment program when Rio stopped the operation due to falling prices and demand in 2001, despite spending $C260 million. With prices and demand again rising, Rio is undertaking a feasibility
study on completing the refurbishment and expanding the iron ore concentrator which in 2002 was estimated at $C170 million. Rio expects to complete the feasibility study by early 2006, and could possibly have the...
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