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Rio Tinto iron ore supply and demand game battle to speed up expansion

   June 16, the world's second-largest mining group Rio Tinto announced that the company is accelerating the expansion of Rio Tinto in the Pilbara region of Western Australia's iron ore, plans to invest $ 676 million pre-engineering and procurement for the project. The investment plan will allow mining in the first half of 2015 to achieve 333 million tons / year capacity, six months ahead of schedule to achieve expansion goals.

    Beginning this year,swing chain both supply and demand of iron ore minerals are obviously the game, "inflection point." There has been mining iron ore market has been in business more than China needs to sing, repeatedly said that continued strong demand from China will remain high to maintain iron ore; the Chinese side during the second five as steel demand growth is expected to slow down, and overseas Chinese iron ore resource control increases, the incremental increase for iron ore will be reduced, especially for the dependence of the three major mining companies will be reduced.

    Industry analysts believe that Rio Tinto announced to accelerate the progress of the Pilbara iron ore expansion,iron chain a good thing for both sides. For Rio Tinto, the steel industry is still able to maintain the growth cycle to accelerate market share grab, get a better return on investment. For the demand side, increased supply of iron ore, but also able to adjust the overall market supply and demand, in order to obtain the lowest possible price.

    Rio Tinto Iron Ore chief executive Sam Group Wales (SamWalsh) that accelerate the pace of expansion is a very useful thing, which will allow us to provide more mineral resources of the market ahead of schedule. We are also looking for new sources of supply, but it has proved effective to achieve the speed or slower than expected.

    Rio Tinto in 2010 launched a five-year period the Pilbara iron mineral can be increased by 50% of the plan, the investment project is part of the plan. Without increasing the overall cost of the expansion project under the premise that the investment of $ 676 million (of which Rio Tinto will invest $ 350 million), will be used to promote the port and rail infrastructure to deliver the longest of these two projects ahead of schedule.

    According to Rio Tinto 333 million tons / year expansion plan, the end of the first quarter of 2011, completed 225 million t / production capacity, which Dampier port transport system has been completed. In the second half of 2013, the first half of 2015, respectively, to complete a Cape Lambert Port 53 million tons 50 million tons expansion plans.

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