SIMIC

It was the first time for Rio Tinto to start bonded area operations for blending iron ore at a Chinese port, which will be developed as Rio Tinto’s iron ore blending and distribution center in northeast Asia.

With the signing of the deal, Rio Tinto said it would be able to better serve steel mills in north China and supply new blend iron ore products to other regions in Asia.

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"The cooperation can effectively reduce the costs at both ends of the supply chain and provide more value-added services," said Zhang Yi, president of Liaoning Port Group, parent company of Dalian port.

The first batch of the blend iron ore will be distributed to the mills in Japan, South Korea, Taiwan and northeast China.