Rio seeks partners for $US18 billion project
Rio Tinto is in talks with potential partners from the Middle East and China to seek finance for an $US18 billion mine project in Guinea, in what could be a model for miners to fund the soaring cost of developments.
The Anglo-Australian miner has been in discussions with groups including Mubadala, oil-rich Abu Dhabi’s active investment vehicle, as well as the sovereign wealth funds of Kuwait and Qatar over possible investment in a 650 kilometre railway and port needed to unlock Rio’s development of Simandou, an iron ore deposit in the west African country.
Read more at: http://www.afr.com/p/business/companies/rio_seeks_partners_for_us_billion_4MiDeGfjTrJ2DL33MMptqI
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