Rio Tinto commits to develop $1.9B Kangwinan bauxite project in Australia

What happened: Rio Tinto (RIO) said it plans to spend $1.9B to develop the Kangwinan bauxite project, which will support an expansion of its Weipa operations in Queensland, Australia. Key numbers: $1.9B investment; project supports Weipa operations expansion in Queensland. Why it matters: The company said the project will sustain its position as one of the leading bauxite producers, per the content.

Rio Tinto (RIO) said it plans to spend $1.9B to develop the Kangwinan bauxite project, which will support an expansion of its Weipa operations in Queensland, Australia.

The company said the project will sustain its position as one of the leading bauxite producers, per the content.