The world’s third largest mining company, Rio Tinto Ltd
(ASX:RIO) says the planned expansion of its iron ore operations in Western Australia may cost around $14.8 billion dollars.
The miner, which is seeking to boost its output by 50 per cent over five years, says the cost of expanding the operation to 333 million metric tons will be around $130 for each ton of capacity.
For the year ended 30 June 2010, Rio Tinto reported a net profit of $7.4 billion.
