Miner to tap into green transition opportunities

Vital commodity: Workers on a pile of iron ore at a steel factory in Tangshan, China. The country contributes 60% of Rio Tinto’s revenue. — Reuters

Beijing: Rio Tinto, the world’s largest iron ore producer, had more tie-ups and joint ventures with Chinese partners last year than ever before in its history, its top executive says, amid further opening-up and industrial reforms that have provided massive business opportunities for multinational corporations in the country.

“China is hugely important for Rio Tinto as this is the place where we have our biggest customers, our biggest shareholder and almost 60% of our revenue,” said Jakob Stausholm, chief executive officer of Rio Tinto, on the sidelines of the China Development Forum last Sunday in Beijing.