Rio Tinto has extended this operation to the Zhoushan port in South China. The world’s second-largest iron ore miner, with core assets in Australia, extends its iron ore blending operations at Beilun port under the Ningbo Zhoushan Port Group (NZP Group) in East China’s Zhejiang province to provide better service to the customers at the Yangtze River Delta and South China.
“This is the first time for Rio Tinto to carry out iron ore blending and spot trading at a port in the Yangtze River Delta and in South China after having the business model executed at ports in North & Central China”.
The product to be produced by Rio Tinto at the Zhoushan port will be Rio Tinto Blend Fines (RTBF), a blended product of its Canadian concentrates and medium-grade SP10 Fines, targets to cater to the markets in China a more cost-effective variety.
The blended ore product from the Zhoushan port will be serving the demand of customers in South China, according to a Shanghai-based source close to Rio Tinto.
Rio Tinto set up a subsidiary in China in June 2019, to manage the portside spot trading and iron ore blending business in order to serve the needs of the Chinese customers better, especially the small-to-medium-sized steel mills.
MSK is proud to be associated with the RTBF operations of Rio Tinto since its commencement at Cao-Fe-Dian Port from November 2019.