Rio Tinto and China Baowu Group Agree on JV Extension

摘要

Rio Tinto announced on 19 December that the company and China Baowu Group have agreed to discuss extendingthe Bao-HI iron ore joint venture in Western Australia's Pilbara region, which has achieved sales of more than 180 miltons since it was created in 2002. A heads of agreement was signed at a ceremony in Shanghai attended by executivesfrom both sides. The agreement is expected to reinforce the companies' partnership.