Rio Tinto postpones first production from Simandou iron ore project to 2018

Australian miner Rio Tinto expects to delay its first production from its Simandou iron ore project in Guinea by at least three years to 2018, according to media reports.
 
Rio Tinto will announce the production date when the investment framework is concluded and the financing is in place. The company also added that the first estimate is that the production will begin at the $20 billion Simandou project in 2018, if everything goes well.