Bullish Sign? - Bounced off 200 EMA, page-1975

Apologies if this was previously cited . It may be useful as an umbrella against falling sky?
It’s from 18th June
(NB clear prophetical caution against danger of  skyscrapers: paragraph 6 when she mentions ‘ the building’ choosing 20th floor rather than 200th!)

https://www.smh.com.au/business/com...iron-ore-site-in-pilbara-20180618-p4zm79.html

Rio Tinto plans to start mining at huge iron ore site in Pilbara

Global miner Rio Tinto plans to start developing its Koodaideri iron ore mine in Western Australia's Pilbara region next year, claiming it is one of the most technologically advanced in the world.

The miner said at its investor day on Monday it would mine its first tonnes from the project in 2021.

The Koodaideri orebody is 50 kilometres long and 5 kilometres wide. It will be a new production hub which will be a key feature for the Pilbara for many years to come,"  Rio Tinto iron ore chief executive Chris Salisbury said.

A final decision on the mine is expected before the end of this year.

Rio Tinto's managing director for planning, integration and assets, Kellie Parke said Koodaideri sits on a massive orebody.

"Imagine being on the 20th floor of a tall building and trying to look out for 50 kilometres. That is how big the orebody is for this mine development."

Rio Tinto has forecast capital costs of around $2.2 billion for Koodaideri.

Rio will rebuild the mine in 3D so it can be used for planning and training.

Mr Salsibury said Koodaideri, along with West Angelas and Robe Valley in the Pilbara, are designed to replace Rio's ageing iron ore mines over the next three years.

Rio Tinto said the company would begin operating its long-delayed AutoHaul robot rail system by the end of the year, which will remove the logistical bottleneck the miner faces in getting iron ore from the pit to the port.

“Removing our bottleneck in rail and increasing flexibility remains a key priority. This work is progressing well and rail and mine capacity should be in line with nameplate port capacity by the end of 2019,” Mr Salisbury said.

Despite recent positive announcements from the mining sector on major takeovers and new mines being built, Rio Tinto, BHP and South 32 led the market down today.

Rio Tinto's share price fell 2 per cent on Monday, from an opening price of $85.70 down to $84.01 by the end of trading.

BHP slipped 2.4 per cent from its previous closing price of $33.56 down to $32.78, while South32 rapidly fell 4 per cent from its opening price of $3.90 down to $3.74 after its announcement of the $1.75 billion acquisition of Arizona Mining, before regaining ground to finish the day at $3.85.