Iron – Bloomberg reported that Guinea’s former mines minister Mahmoud Thiam said the Rio Tinto Group will probably not develop its $10 billion iron ore project in Simandou in the near future as Guinea struggles to finance transport links.
Articles Tagged "Sam Walsh"
Iron – Reuters reported that Rio Tinto, under the leadership of its new CEO Sam Walsh, will initiate major cost-cutting measures as it mitigates a sharp drop in demand for industrial commodities.
Iron – Mining Weekly reported that Guinea dismissed concerns over the future of the giant, untapped Simandou mine owned by Rio Tinto plc (ASX:RIO,LSE:RIO,NYSE:RIO), stating that it has the means and expertise to push the project forward.
Iron – Reuters reported that according to Rio Tinto, the price of iron ore will retreat slightly this year from its current high levels, which reached almost $160 per ton last month.
Iron – Reuters reported that iron ore giant Rio Tinto has sacked CEO Tom Albanese on Thursday, who will be replaced by Australian Sam Walsh, who heads the company’s iron ore division.