Rio Tinto Ltd (ASX:RIO) has announced the company will invest $US238 million to advance a feasibility study for extending the life of Kennecott Utah Copper’s Bingham Canyon Mine in Salt Lake City in the United States as well as the purchase of long lead time equipment.
The life of the mine may be extended from 2019 to 2028. A final decision is expected in the first half of 2012.
In the 2010 calendar year Rio Tinto recorded a net profit of $14.9 billion.
