18
Nov
00:00
Sinosteel and Rio agree to extend Channar mine venture
Rio Tinto and Chinese trader Sinosteel have signed an agreement to advance discussion on the extension of the Channar iron ore mine in Australia’s Pilbara. The move is a boost to the heavily indebted Sinosteel as well as for Rio, which plans to hit 360 million tonnes/year of iron ore output next year, Kallanish notes.
The move should be a good investment for Sinosteel, which has 100% offtake rights to its iron ore. Channar ore is used in Rio Tinto&rsqu…
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Anonymous
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