Rio Tinto has pledged $US2.4 billion ($3.2 billion) to develop the Jadar lithium-borates operation in Serbia, a project that it says will transform the company into the largest supplier of lithium in Europe.
Rio Tinto has approved a $US108 million ($146 million) investment to explore the prospect of underground mining at the Kennecott copper operations in the United States.
Rio Tinto is aiming to lift its performance in the Pilbara region in the second half of the year after recording a 9 per cent fall in iron ore production during the June quarter. Read more
Wood Mackenzie has forecast that lower Chinese demand will be the driving factor that causes iron ore prices to decrease by more than 10 per cent in the coming months.
The market value of the world’s top 25 metals and mining companies has declined by 6.9 per cent in June after two straight months of increases, according to S&P Global Market Intelligence data.
Monadelphous has won contracts worth $215 million with a list of multinational miners, including BHP, Rio Tinto and Fortescue Metals Group. Read more