Rio Tinto buys more
Source: Xinhua/Shanghai Daily |
June 3, 2011, Friday
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Print Edition
Print Edition
ANGLO-AUSTRALIAN mining company Rio Tinto plans to purchase US$1 billion of commodities in China in 2011, a company official said yesterday in Shanghai.
There is still a great deal of room for more purchases in China, as the miner's 2011 China purchases will amount to less than 10 percent of its global purchases, said Scott Singer, its global purchase head.
Rio Tinto purchased US$500 million worth of commodities in China in 2010. The miner has raised its variety of commodities purchased in China in correlation with its increasing purchases, Singer said.
As Rio Tinto's largest single market, China contributes about one-fourth of its annual income.
There is still a great deal of room for more purchases in China, as the miner's 2011 China purchases will amount to less than 10 percent of its global purchases, said Scott Singer, its global purchase head.
Rio Tinto purchased US$500 million worth of commodities in China in 2010. The miner has raised its variety of commodities purchased in China in correlation with its increasing purchases, Singer said.
As Rio Tinto's largest single market, China contributes about one-fourth of its annual income.
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