Alan Davies News
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A corruption probe into how a group run by Israel’s richest person secured rights to a Guinea iron ore project is set to spark interest from rival companies looking to swoop on one of the world’s most valuable deposits.
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Rio Tinto Group, the world’s second-largest mining company, said it may consider selling individual mines of its $2.2 billion diamond business should they fetch higher shareholder value.
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Rio Tinto Group, the third-biggest mining company, said it’s advancing a study into developing an Indian iron ore mine as demand for steel in the country grows.
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Rio Tinto Group’s foray into Mozambique, which cost the world’s No. 2 mining company $3 billion, has highlighted a lack of rail and port capacity that threatens to check a coal boom in the southeast African nation.
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Rio Tinto Group, the world’s second- largest mining company, said it’s in talks with the Mozambique government as it seeks a new plan to enable coal exports from a project in the country.
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Rio Tinto Group sees its global iron ore production approaching 450 million tons a year in the next five years, the company’s international operations for iron ore Alan Davies said. Davies made the comments in a presentation to a steel conference in Dusseldorf today.
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Rio Tinto Group , the world’s second- biggest mining company, said its Simandou iron-ore mine project in Guinea has attracted interest from sovereign wealth funds.
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Oman will award a contract “very soon” for construction of the planned Sur Power Plant as it struggles to meet a projected 9 percent annual increase in electricity demand, the head of the utilities authority said.
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Oman will request proposals for the 42 million gallon Gubrah desalination plant later this summer, the manager of strategic studies at Oman Power and Water Procurement Co. said.
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Australia’s S&P/ASX 200 Index rose 0.4 percent to 4,161.9 at 12:47 p.m. in Sydney today. New Zealand’s NZX 50 Index added 0.3 to 3,413.77 in Wellington.
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