Rio Tinto receives approval to develop $17.2 billion iron ore project

Mining giant Rio Tinto says it has received approval from Guinean and Chinese authorities to develop the $17.2 billion Simandou iron ore project in West Africa.

“This Simandou iron ore project in West Africa has been basically a project of Rio Tinto’s for a couple decades now,” said Sky News Business Reporter Edward Boyd.

“They’ve had serious issues with government problems … they’ve now got full approval to get this mine up and running.”

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