(Bloomberg) -- Rio Tinto Group will spend around $6.2 billion on development of the vast Simandou iron ore deposit in Guinea, its first official estimate for a marathon project that aims to deliver high-quality material for steelmakers seeking to curb emissions.Most Read from BloombergTreasury Frenzy Drives 10-Year Yield Below 4.2%: Markets WrapBiden Says He Might Not Have Sought Reelection If Trump Weren’t RunningTruck-Stop Billionaire Fights Warren Buffett to Increase $18 Billion Fortune India
Chief executive Jakob Stausholm says steel mills running ‘flat out’ but property slowdown still ‘challenging’
SYDNEY, December 05, 2023--Rio Tinto will today hold its 2023 Investor Seminar in Sydney, where it will update on progress in its long-term strategy of investing with discipline to strengthen operations, deliver growth in a decarbonising world and continue to generate attractive shareholder returns.