Rio Tinto ships 4 billion tonnes of iron ore Investing.com

PERTH, Australia–(BUSINESS WIRE)–Rio Tinto at this time celebrated the cargo of 4 billion tons of iron ore from Western Australia’s Pilbara to China.

The cargo was loaded on the Port of Dampier on July 19 and destined for China Baowu Metal Group, the world’s largest metal producer. The milestone was achieved 51 years after the primary cargo of practically 22,000 tonnes of Pilbara iron ore from the Port of Dampier to China’s Shanghai No. 1 Metal Works (which has since grow to be a part of China’s Baowu).

For greater than half a century, China has grown to be Rio Tinto Group’s (NYSE: ) largest buyer, transporting about 250 million tons of iron ore yearly.

4 billion tons of iron ore is sufficient to produce the metal wanted for about 45,000 Sydney Harbor Bridges or greater than 23,000 Beijing Nationwide Stadiums (Chook’s Nest).

Rio Tinto partnered with China to ascertain the Channar three way partnership in 1987, which was the nation’s first funding in a international mining challenge and the biggest international funding on the time. and a long time of mutual development and prosperity between Rio Tinto, China and Australia.

Western Vary is Rio Tinto’s latest mine and the newest three way partnership partnership between Rio Tinto and China’s Baowu. The mine is predicted to start out manufacturing in 2025, with an annual output of 25 million tons of iron ore.

Simon Trott, CEO of Rio Tinto, mentioned that China has been an vital associate for Rio Tinto and the Australian mining business for greater than 50 years.

China’s robust demand for high-quality minerals reminiscent of iron ore has created quite a few alternatives for funding and commerce between the 2 international locations.

Each time I go to China and see the skyscrapers, high-speed rail and all of the infrastructure that helps enhance the lives of 1.4 billion individuals, I really feel proud as a result of a lot of the issues I see are metal made by Rio Tinto and the Tinto Iron Mine stone.

We stay up for persevering with to deepen our strategic partnership with China sooner or later.

Editorial Notes

A collection of photos exhibiting Rio Tinto’s iron ore shipments will be downloaded right here.

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