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Australia-based mining giant Rio Rinto Limited and Chinese steelmaker Sinosteel Corporation on December 3, Channar mining joint venture signed a contract to continue. Venture, Western Australia's iron ore-rich Pilbara region will produce additional 50 million mt of iron ore, more.

Rio Tinto said in a statement, Channar'ın to produce 200 million metric tons of ore, Australian and Chinese governments signed an agreement in 1987 with support from the foundation said. Rio Tinto iron ore chief executive Sam Walsh, Australia, and, signed the contract, the company's continuing close relations with China the largest market in the past described as the cornerstone.

Rio Tinto's 60%, 40% of the shares owned by Sinosteel'in Channar joint venture, the management of Rio Tinto, Tom Price, 60 kilometers south of the mine operates Channar. Contract, 100% of the raw materials produced within the framework of Sinosteel'e Channar provides the right to pre-purchase.

Mine with annual production capacity of 10 million mt, 2012 mt of iron ore is expected to produce in the first quarter of the 200 millionth.