Australia's largest iron ore producer is investing up to $10 billion ($12.5 billion) in its mines to deliver goods to China as there is little sign of slowing down their demand for their largest customers.
Under RioTinto's leadership, Australia's three largest exporters plan to add about 170 million tons of new capacity to replace the depleted mines, and are investing in infrastructure and equipment to increase export capacity. Achieve long-term goal levels. According to Deutsche Bank estimates, the output of the three major miners will increase by 9% in 2022, reaching 843 million tons.
As it turns out, the prediction of China's steel industry slowdown is wrong. BHP Billiton said that production has not yet reached its peak and may not peak until 2025, and steelmaking materials will continue to perform strongly in the next 12 months.