Jilin Province-based Chinese steelmaker Tonghua Iron and Steel Corporation Ltd (Tonghua Steel) has announced that the Cairn Hill iron ore project in South Australia has commenced shipment of iron ore from Port Adelaide to the port of Yingkou in Liaoning Province, China.
In early 2008, Tonghua Steel invested RMB 89.6 million ($13.4 million) to acquire a 6.24 percent share in Australia-based IMX Resources Limited, which has a controlling stake in the Cairn Hill iron ore project, thus becoming the third largest shareholder of IMX.
The first shipment to be delivered to China from the Cairn Hill mine includes 62,500 mt of iron ore, and it is expected to arrive in China in late December. An average of two shipments of iron ore per month will be delivered from Port Adelaide to China, equivalent to 1.7 million mt of annual iron ore shipments.