Rio Tinto, China Baowu to Build Australian Iron Ore Project for $2 Billion

China Baowu and Rio entered into a sales agreement under which China Baowu will purchase up to 126.5 million tonnes of iron ore over the course of around 13 years from the Pilbara Western Range project.

China Baowu

In an effort to boost production from the Pilbara region, Rio Tinto Ltd. announced o...

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