On January 19, Hong Kong-based Chinese raw materials supplier CITIC Pacific announced that it will commission production of magnetite iron ore concentrate at its Sino Iron ore project in the Pilbara region of Western Australia in late July 2011.
CITIC Pacific also disclosed that it is currently building a fleet of 12 115,000 dwt vessels that will perform iron ore shipments regularly from Australia to China. The first ship was formally launched on January 18, 2011.