Posted by Daniel Gleeson on nineteenth July 2024
Rio Tinto has immediately celebrated the cargo of 4 billion tonnes of iron ore from the Pilbara in Western Australia to China.
The cargo was loaded at Dampier Port on July 19, certain for China Baowu Metal Group, the world’s high metal producer by output. This milestone comes 51 years after the primary cargo of virtually 22,000 t of Pilbara iron ore was despatched from Dampier Port to China’s Shanghai No.1 Metal Mill, which has since change into a part of China Baowu.
Over greater than half a century, China has grown to change into Rio Tinto’s largest buyer with about 250 Mt/y of iron ore shipped.
4 billion tonnes is sufficient iron ore to provide the metal wanted for about 45,000 Sydney Harbour Bridges, or greater than 23,000 Beijing Nationwide Stadiums (Fowl’s Nest), Rio Tinto says.
Rio Tinto partnered with China for the nation’s first ever funding in a international mining venture, and its largest ever international funding on the time, by forming the Channar three way partnership in 1987. That jv in Western Australia laid the inspiration for a lot of tasks to comply with, and for many years of mutual development and prosperity between Rio Tinto, China and Australia, the corporate says.
Western Vary, Rio Tinto’s latest mine, is the most recent three way partnership partnership with China Baowu. Manufacturing from the mine is predicted to begin in 2025, with an annual capability of 25 Mt of iron ore.
Rio Tinto Iron Ore Chief Govt, Simon Trott, mentioned: “China has been a vital companion for Rio Tinto and for Australia’s mining business for greater than 5 many years. China’s sturdy demand for high-quality minerals comparable to iron ore has generated substantial alternatives for funding and commerce between the 2 nations.
“Each time I go to China and see the skyscrapers, the high-speed rail, and all of the infrastructure that has helped enhance the lives of 1.4 billion individuals, it makes me proud to suppose that almost all of what I see incorporates metal that was made with Rio Tinto iron ore.
“We sit up for persevering with our relationship with China properly into the long run as we proceed to deepen our strategic partnership.”
