Rio Tinto reaches new iron ore delivery deals
Updated
The Anglo-Australian resources giant, Rio Tinto, has announced further price agreements for its iron ore.
It says it's now reached settlements with all of its customers in Asia for deliveries from Hamersley Iron, Robe River and Hope Downs.
The company says the new prices are in line with those negotiated with the Chinese steel giant, Baosteel.
That saw prices increase by 96.5 per cent for lump iron ore and 80 per cent for fine grades.
Rio Tinto says the price agreements throughout Asia will provide an important platform as it undergoes the biggest ever expansion of its iron ore business.
