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IFC To Invest $150 Million In Rio Tinto's Simandou Project -Report

MELBOURNE -(Dow Jones)- International Finance Corp., the development financing arm of the World Bank, plans to invest US$150 million in equity in Rio Tinto PLC's (RIO) Simandou iron ore project in Guinea as the venture aims for production by 2015 at an initial cost of US$13 billion, The Australian newspaper reported Tuesday. The IFC said the additional investment was to "help cover costs as the project continues to progress in development," the newspaper said. The Washington-based IFC acquired a 5% stake in the venture in 2006. Rio holds a 50.35% interest and Aluminum Corporation of China Ltd. (ACH) has 44.65%. Newspaper website: http://www.theaustralian.news.com.au -By Melbourne bureau; +61 3 9292 2094; djnews.sydney@dowjones.com

Stock News for Aluminum China (ACH)
DateTimeHeadline
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07/22/201418:14:38ADR Shares End Higher; ARM Holdings, Deutsche Bank Shares Trade...
05/26/201413:33:13Guinea, Rio Tinto Seal Deal On $20 Billion Mine
05/16/201414:22:11Financing Deal for Guinea Mine Close to Completion, Rio Tinto...
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09/26/201307:44:32African Minerals: Tewoo to Pay $990 Million for 16.5% Tonkolili...
09/02/201304:35:12ASIA MARKETS: Hong Kong Stocks Jump To Lead Broad Asia Gains
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06/12/201312:30:11Guinea, Rio Tinto To Meet on Iron Ore Project
06/12/201311:51:11Guinea, Rio Tinto To Meet on Simandou Amid Soaring Costs - Minister
05/16/201300:00:21Rusal, Chalco to Decide on JV in June
04/23/201304:35:10ASIA MARKETS: Asia Stocks Trip Over Weak China Data
04/23/201302:01:30Chalco Vies With Rio Tinto, Others for Australia Bauxite Project
04/10/201304:31:22ASIA MARKETS: Most Asia Markets Gain After China Data
04/09/201323:51:10ASIA MARKETS: Asia Markets Mostly Up, As Resource Stocks Gain
03/05/201310:31:15Peru's Mining Investments Seen Rising 16% This Year - Bank
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02/27/201311:49:05Peru Sees Mining Investments of $19.5 Billion in 2013 and 2014
02/15/201309:39:50Guinea Mines Ministry Launches Web Site For Titles, Contracts

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