BHP and Rio Tinto to spend more on Chinese mining equipment
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Australian iron ore producers BHP Billiton and Rio Tinto have announced that they will increase the quantity of mining equipment they buy from China, according to international media sources.
BHP Billiton stated that its expenditure on Chinese mining equipment would increase to A$6 billion in the coming five years. It is also expected this expenditure will increase to A$1 billion in the current year. Rio Tinto also stated that it will increase its expenditure on Chinese mining equipment by 50 percent next year, increasing to A$1.5 billion from A$1 billion in the current year.
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