Rio Tinto Group, recently said that it will double its procurement of goods in China to reach USD 1 billion this year, further highlighting long term collaboration with the world's largest iron ore consumer.
Mr Scott Singer Rio Tinto's global head of procurement at a signing ceremony with the State owned Xiangtan Electric Manufacturing Corporation said that "In 2011, we expect to spend over USD 1 billion in raw material, marine freight, operational and capital goods in China.”
Under the agreement, the first such deal for a Chinese manufacturer to export haul trucks, XEMC will deliver four trucks to Rio Tinto's Pilbara project in Western Australia.
The company started procurement in China in 2003 and spent USD 500 million on manufacturing goods in 2010.
Mr Singer said the growth in procurement is due to Rio Tinto's business expansion, and he expects the group to make more purchases in China next year.
The XEMC trucks are scheduled to be operational at the Tom Price mine in Pilbara in early 2012. Mr Tom Palmer chief operating officer of the Pilbara Mines said that "For Rio, it's our first contract with a Chinese manufacturer for the supply of mining equipment, and it's also the first time that we will receive customized fit-for-purpose trucks that we can put straight to work in our mines.”
A Xiangtan Electric Manufacturing Corporation booth at an energy exhibition in Shanghai. The Hunan based company will sell four haul trucks to Rio Tinto Group as the mining giant aims to double its procurement in China. (sourced from China Daily)
Mr Scott Singer Rio Tinto's global head of procurement at a signing ceremony with the State owned Xiangtan Electric Manufacturing Corporation said that "In 2011, we expect to spend over USD 1 billion in raw material, marine freight, operational and capital goods in China.”
Under the agreement, the first such deal for a Chinese manufacturer to export haul trucks, XEMC will deliver four trucks to Rio Tinto's Pilbara project in Western Australia.
The company started procurement in China in 2003 and spent USD 500 million on manufacturing goods in 2010.
Mr Singer said the growth in procurement is due to Rio Tinto's business expansion, and he expects the group to make more purchases in China next year.
The XEMC trucks are scheduled to be operational at the Tom Price mine in Pilbara in early 2012. Mr Tom Palmer chief operating officer of the Pilbara Mines said that "For Rio, it's our first contract with a Chinese manufacturer for the supply of mining equipment, and it's also the first time that we will receive customized fit-for-purpose trucks that we can put straight to work in our mines.”
A Xiangtan Electric Manufacturing Corporation booth at an energy exhibition in Shanghai. The Hunan based company will sell four haul trucks to Rio Tinto Group as the mining giant aims to double its procurement in China. (sourced from China Daily)
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