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Rio Tinto Becomes Member of CBMX’s Iron Ore Trading Channel

Rio Tinto has announced that it has joined as a member of the China Beijing Metals Exchange (CBMX), which is an electronic trading platform.

The participating members will obtain a further iron ore trading channel from the CBMX in China market.

The senior officials from Rio Tinto Iron Ore Asia and CBMX participated in a signing ceremony that was conducted in Singapore. Rio Tinto Iron Ore Asia is marketing iron ore to the customers in Asia, on behalf of Rio Tinto.

According to Alan Smith, President of Rio Tinto Iron Ore Asia, the company is delighted about CBMX’s growth, as it offers a new option to the company to market any available tonnes to the Chinese market over and above the amount of the contract. The company is expecting to develop the Exchange into an independent, transparent, sustainable and efficient iron ore trading platform, with broad market participation supporting this platform.

Rio Tinto is a global mining group. The headquarters of the company is in the United Kingdom. Rio Tinto is a combination of Rio Tinto Limited and Rio Tinto plc.

The business of Rio Tinto involves identification, exploration of mineral resources and then processing it. Gold, copper, diamonds, aluminium, iron ore, metallurgical and thermal coal, uranium and industrial minerals such as titanium dioxide and salt and borax are the main products. The company’s activities are strong in North America and Australia and important businesses are going on in Africa, Asia, Europe and South America.

Joel Scanlon

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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