By Rhiannon Hoyle
Rio Tinto said it has got the approvals needed to start developing a huge iron-ore project in Africa, as it reported a rise in its second-quarter shipments of the steel ingredient from mines in Australia.
The world's second-biggest miner by market value said Tuesday that all conditions have been satisfied for it to develop the Simandou iron-ore deposit in Guinea, including necessary Guinean and Chinese regulatory approvals.
Rio Tinto, already a top exporter of iron ore globally, said it shipped 80.3 million metric tons of iron ore from a cluster of mines in remote northwest Australia during the three months through June. That was up 2% versus the same period the year before.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
07-15-24 1916ET