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By Sameer Manekar and Praveen Menon
(Reuters) -Rio Tinto Ltd said on Wednesday it would team up with its biggest customer China Baowu Steel Group to develop an iron ore project in Western Australia for $2 billion as it looks to prop up its production from the Pilbara region.
The deal comes amid fraught ties between Australia and China - the world's top exporter and buyer of iron ore, respectively - with a recent push by Beijing to centralise purchases of iron ore stoking worries of a hit to mi...
>>> Read more: Rio Tinto, China Baowu to develop Australian iron ore project for $2 billion
(Reuters) -Rio Tinto Ltd said on Wednesday it would team up with its biggest customer China Baowu Steel Group to develop an iron ore project in Western Australia for $2 billion as it looks to prop up its production from the Pilbara region.
The deal comes amid fraught ties between Australia and China - the world's top exporter and buyer of iron ore, respectively - with a recent push by Beijing to centralise purchases of iron ore stoking worries of a hit to mi...
>>> Read more: Rio Tinto, China Baowu to develop Australian iron ore project for $2 billion
