Rio Tinto to extend the life of its Lac Tio ilmenite mine in Quebec
www.cnchemicals.com Time：2013-06-09 Sources of information：www.cnchemicals.com
Rio Tinto PLC is pushing ahead with the expansion of its mineral sands operations, holding to plans to invest 800 million Canadian dollars (US$826 million) over five years to extend the life of its Lac Tio ilmenite mine in Quebec and overhaul a titanium dioxide smelter in the Canadian province.
The Anglo-Australian company has to date approved spending C$65 million of the C$200 million earmarked to expand mining operations in Havre-Saint-Pierre, and C$240 million of the C$600 million it has said is needed to upgrade equipment and systems in Sorel-Tracy, it said in a slide presentation released Friday.
Rio Tinto last week completed a deal to double its holding in the Richards Bay Minerals venture in South Africa for US$1.7 billion, buying BHP Billiton Ltd.＇s (BHP) 37% interest. RBM－－which remains 26% owned by local communities, businesses and employees－－accounted for about 14% of global titanium dioxide feedstock sales and 18% of global zircon sales in 2011.
In a presentation given in Sorel-Tracy, Rio Tinto Fer et Titane President Dominique Bouchard said the operations at Lac Tio would move to seven days a week from five as the mine＇s life was extended to 2050. About C$25 million has been spent so far, he said.
At Sorel-Tracy, Mr. Bouchard said C$165 has been invested so far as Rio Tinto seeks to increase the metal powders plant capacity by 20% and reconstruct two of nine furnaces used to produce titanium dioxide feedstock.
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