Mining giant Rio Tinto has made a major step towards expanding its industrial minerals portfolio with the exercise of a 2003 option to acquire Potasio Rio Colorado SA (Argentina), evaluating the Rio Colorado potash project in the west of the country. Potasio Rio Colorado was a subsidiary of Buenos Aries-based Mineral Tea SA. It has been many years since Rio Tinto has expanded into a new industrial mineral area. This potash project, together with a natural soda ash (trona) project being advanced in Turkey, could potentially add 2 new mineral products to the existing group. In a separate development, the firm has opted to proceed with one of its largest ever single industrial mineral investments, a massive $775M. TiO2 project comprising a $585M mineral sands mining operation & port in Madagascar & a separate $190M upgrade of Rio's ilmenite facilities, Canada.
