CVRD, Rio Tinto and BHP Billiton to increase iron ore trade
According to the research conveyed by Investec Securities, Brazilian mining giant Companhia Vale de Rio Doce (CVRD), Anglo-Australian mining company Rio Tinto and Australian mining company BHP Billiton are expected to increase iron ore trade worldwide by 50% by year 2010. The export of subject raw material is expected to reach 786 million tons by 2010 from 517 million tons shipped in 2003. Moreover Chinese demand for iron ore is expected to reach 457 million tons by 2010 from 258 million tons recorded in 2003.