Rio Tinto has shipped its 100 millionth tonne of iron ore from the Pilbara to Baosteel under its Bao-HI joint venture.
The milestone marks the half-way point of the agreement for 200 million tonnes to be mined and sold to Chinese company Baosteel.
Rio Tinto’s head of iron ore and Australia, Sam Walsh, said the Bao-HI joint venture was one of two such partnerships Rio has forged since the company first shipped iron ore to China in 1973, delivering hundreds of millions of tonnes into the world’s fastest growing and largest steel industry.
The joint venture was first formed in 2002 between Rio’s subsidiary Ranges Mining, which owns 54 per cent, and Baosteel Australia Mining which owns 46 per cent.
The majority of the iron ore shipped under the joint venture was produced at the Eastern Ranges mines, near Paraburdoo, which was established specifically for the joint venture.
The 100 millionth tonne left Dampier on Friday, bound for Shanghai.
Image: Australian Mining website