Rio and BHP Revive Major Collaboration [Yahoo! Finance]
Rio Tinto Plc (RIO)
US:NYSE Investor Relations:
riotinto.com/investors-87.aspx
Company Research
Source: Yahoo! Finance
in years, agreeing to jointly tap up to 200 million tonnes of iron ore in Western Australia's Pilbara region. The two miners signed non binding agreements to look at developing neighboring deposits and sharing infrastructure across their Yandicoogina and Yandi operations. Instead of spending heavily on new projects, the focus is on getting more out of what's already there, including potentially developing Rio Tinto's Wunbye deposit and processing ore from BHP's Yandi Lower Channel through Rio's existing wet plants. Warning! GuruFocus has detected 9 Warning Signs with RIO. Is RIO fairly valued? Test your thesis with our free DCF calculator. Executives from both companies framed the move as a practical response to rising costs and declining ore grades across the Pilbara. Rio Tinto iron ore chief Matthew Holcz said the partnership allows both sides to unlock extra production with minimal capital spending, while BHP's Tim Day called it a clear example of productivity gains through
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