One of the world’s three major mining giants, Rio Tinto, disclosed on its official website that China Steel and Rio Tinto jointly announced today that the two companies will begin discussions on further extending the timeline for the Channar iron ore project in the Pilbara region of Western Australia.

　　 Today, Rio Tinto, one of the world’s three major mining giants, disclosed on its official website that China Steel and Rio Tinto jointly announced today that the two companies will begin discussions on further extending the timeline for the Channar iron ore project in the Pilbara region of Western Australia.

　　On that day, Xu Siwei, President of China Steel Group, met with Sam, President of Rio Tinto. ? Wales signed the Framework Agreement on the Extension of the Chana Joint Venture in Canberra. Chinese President Xi Jinping and Australian Prime Minister Tony... ? Abbott attended the signing ceremony.

　　It is reported that the original Chana joint venture agreement was signed on... 1987 Year, according to the agreement, the project has produced a total of 2 100 million tons of iron ore—China Steel Group holds a stake in the project. 40% Equity—Rio Tinto holds it. 60% Equity. Rio Tinto is responsible for mining at this mine, while China Steel owns the Chana Mine (which is blended into the Pilbara blended ore). 100% The underwriting right.

　　It is worth noting that at the time, this project was one of China’s largest-ever foreign investments, marking the first mining cooperation venture between China and Australia and also representing one of the earliest overseas mining investment projects undertaken by Chinese enterprises.

　　Both parties on 2010 The original agreement was signed, and production continued after its expiration. 5000 The extension agreement for the 10,000-ton iron ore. In 2012 Year 5 Moon 27 Today, the project was officially completed. 2 100 million tons of iron ore shipped. Historical data shows that the Chana mine once accounted for a significant portion of China's iron ore trade. 20%—25% 。

　　According to publicly available information, 2008 Shortly after the onset of the global financial crisis, the Chana mine was forced to temporarily shut down for a short period. The primary reason was that, amid growing concerns about further market deterioration, China Steel’s Chinese customers refused to purchase the iron ore already covered by signed contracts. Nevertheless, China Steel made every effort to fulfill its underwriting obligations and... 2009 At the beginning of the year, by purchasing Rio Tinto’s spot ore, we helped Rio Tinto sell iron ore. At the time, Bao Yian, then Chairman of the Chana Policy Committee, praised China Steel as one of the best-performing customers during the financial crisis.

　　It's worth noting that the previous round of postponed negotiations began with... 2005 In that year, the market conditions at the time of signing the extension agreement differed from those prevailing when the original agreement was signed. Initially, Rio Tinto needed China Steel Corporation’s assistance in developing China’s iron ore market; however, by the time negotiations for the extension agreement took place, Chinese iron ore buyers were actively seeking iron ore in Australia.

　　Historical data shows that the last time was... 2007 Year APEC During the meeting, China Steel Corporation and Rio Tinto signed the "Chana Extension Framework Agreement," which confirmed that both parties remain committed to continuing their cooperation. 2010 In that year, the two parties formally signed an extension contract, under which the Qiana project was extended for another five years based on the original agreement. In addition, the two sides also signed a strategic cooperation agreement at the time.

　　Rio Tinto stated that the two parties will, before the current extended project concludes (expected to... 2016 The two sides reached a consensus on the specific details of the extension for the cooperation.