Rio Tinto said it shipped its four billionth tonne of iron ore from the Pilbara in Western Australia to China after half a century of working together. The shipment was loaded at Dampier Port on 19 July, bound for China Baowu Steel Group – the world’s top steel producer.
“China’s strong demand for high-quality minerals such as iron ore has generated substantial opportunities for investment and trade between the two countries,” said Rio Tinto Iron Ore chief executive Simon Trott, noting that he hopes to continue to deepen the strategic partnership.
“Every time I visit China and see the skyscrapers, the high-speed rail, and all the infrastructure that has helped improve the lives of 1.4 billion people, it makes me proud to think that most of what I see contains steel that was made with Rio Tinto iron ore.”
Rio Tinto partnered with China for the country’s first ever investment in a foreign mining project, and its largest ever foreign investment at the time, by forming the Channar joint venture in 1987. China is now Rio Tinto’s largest customer with about 250 million tonnes of iron ore shipped annually.
Western Range, Rio Tinto’s newest mine, is the latest joint venture partnership with China Baowu. The miner said production from the mine is expected to commence in 2025, with an annual capacity of 25 million tonnes of iron ore.
Source: Rio Tinto