Chinese steel giant Sinosteel Corporation and Rio Tinto have signed an agreement to extend their cooperation at the Channar iron ore project.
From 2012 to 2017, the project will produce an additional 50 million tonnes of ore every year while Sinosteel sells the products in China, said Sinosteel president Huang Tianwen.
The Channar mine is located in the Pilbara region of Western Australia. Under the original agreement signed in 1987, the project was to produce 200 million tonnes of ore by the second quarter of 2012.