Rio Tinto’s Q2 iron ore shipments miss after May train derailment
The world's largest producer of iron ore shipped 80.3 million tons of the steel-making commodity in the quarter.
Mining giant Rio Tinto (RIO.L) said on Friday it would pay the government of Guinea $700 million after reaching an agreement to resolve all outstanding disputes over blocks 3 and 4 of its Simandou iron ore project.
The company said in an emailed statement to Reuters that it had signed a settlement to secure Rio’s mining title for the southern Simandou blocks, paving the way for some $10 billion in investment and the first shipment of iron ore by mid-2015.
