Miner Becomes Farmer as Rio Tinto Forays into Hay Production in Pilbara

By International Business Times,  October 04, 2012, 07:16:35 PM EDT

With global commodity prices of iron ore and coal at record-low levels, mining giant Rio Tinto ( RIO ) has apparently forayed into the agriculture to seek other sources of income outside the once very profitable resources sector.

Rio on Thursday announced the opening of its multimillion-dollar Hamersley Agriculture Project in Pilbara. The venture aims to produce about 30,000 tonnes of hay a year.

Read More on International Business Times




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: RIO



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