Rio Tinto to complete Iron Ore Company of Canada expansion by mid-2014
MONTREAL — Rio Tinto expects to complete the second-phase expansion at its majority-owned Iron Ore Company of Canada by mid-2014.
The expansion of the facility in Newfoundland and Labrador will increase concentrate production capacity by six per cent to 23.3 million tonnes a year.
Analysts expect that up to $70-million in additional spending will be required to complete the project, owned 58.7% by Rio Tinto.
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