Sinosteel Channar Joint Venture Third Extension

Agreements for the Third Extension of the Channar Joint Venture between Sinosteel Australia and Hamersley Iron were signed on 23rd November 2017 which extended the joint venture for a further three years and for its production to increase to 290 million tonnes. The agreement was signed at Diaoyutai State Guest House in Beijing. The Channar Joint Venture has been the foremost cooperation between China and Australia and the most successful Chinese overseas investment as to date. The Extension represents another milestone in the 30-year partnership that had already resulted in more than 250 million tonnes of iron ore being delivered from the Pilbara to China.