Rio Tinto, Hancock Prospecting to develop $1.6B Hope Downs 2 project

Australia’s Rio Tinto and Hancock Prospecting will invest $1.61 billion to develop the Hope Downs 2 iron ore project in Western Australia’s Pilbara region, Rio Tinto said on Tuesday.

Hope Downs 2 project, containing the Hope Downs 2 and Bedded Hilltop deposits, is a…