Posted on 23 Feb 2023
The Australian government has approved an iron ore project which Rio Tinto and China’s Baowu Steel Group jointly developed.
Baowu will make an investment in an iron ore joint venture with A$2 billion, which is China’s largest investment in Australia since 2019. The construction of the project will be in early 2023 and will start operation in 2025.
The joint development showed a positive signal for bilateral economic and trade cooperation between the two countries.
Source:Yieh
