Rio Tinto Aims to Add More Iron Ore With Stronger China Outlook

(Bloomberg) — Rio Tinto Group, the world’s no. 2 mining company, will aim to boost iron ore output with a stronger outlook in China and as urbanization in India and across parts of Asia drives new steel demand growth.

The producer will spend $70 million to lift production at Gudai-Darri, its newest mine in Western Australia’s Pilbara region, according to Simon Trott, the company’s iron ore chief executive officer. It is also advancing work on future options including development of the giant Rhodes Ridge project, which could offer 100 million tons of capacity, he said.