Rio Tinto invests R6,5bn in new SA mining project

Bold Bataar, mining giant Rio Tinto's Chief Executive for Energy and Minerals, speaks on the first day of the Mining Indaba 2017 Conference.

Bold Bataar, mining giant Rio Tinto's Chief Executive for Energy and Minerals, speaks on the first day of the Mining Indaba 2017 Conference.

AFP

JOHANNESBURG - Rio Tinto has announced a R6,5-billion investment in its mineral sands business in KwaZulu-Natal.

The global mining group said that the investment would sustain the capacity of Richards Bay Minerals by developing a new mine called Zulti South.

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Production from Zulti South will commence in time to fill a widening supply gap from the group's Zulti North mine.

RBM produces predominantly rutile, zircon, titania slag and high purity iron. 

Rio Tinto has held a 74 percent stake in RBM since 2012 and manages the operation.

Source
eNCA