On May 18, Australian mining giant Rio Tinto announced that with its latest shipment to leave on the date in question it will export its one billionth metric ton of iron ore to China. Rio Tinto will thus become the first company in the world to export this volume of iron ore to China.
The iron ore shipment will leave Cape Lambert port in the Pilbara region and it is expected to reach China by early June. The iron ore will be delivered to the Chinese steel giant Baosteel.
Sam Walsh, Rio Tinto's chief executive, said in his statement that the shipment highlights the longevity of the miner's relationship with China, adding, "No other company has exported anywhere near this amount of iron ore to China and it took 38 years for us to do so.''
The mining major's first shipment to China in September 1973 consisted of 21,812 mt of Hamersley lump ore delivered to a sister company of Baosteel.