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Updated Wednesday, January 14, 2009 10:44 am TWN, AFP

Rio Tinto shelves Aussie copper, gold mine plans

SYDNEY -- Mining giant Rio Tinto Tuesday suspended a US$229 million development at an Australian copper and gold mine, citing the global financial crisis and falling commodity prices.

The announcement follows the Anglo-Australian group's decision Monday to postpone the US$2.15 billion expansion of its Corumba iron ore mine in Brazil due to the worldwide slowdown.

 

 

 

 

 

 

 

 

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