On the morning of June 6 local time, the Xipo Iron Mine project jointly developed by Baowu and Rio Tinto Group was fully completed and put into production, marking that this major resource cooperation project in China and Australia has entered the stage of full operation. Baowu Chairman Hu Wangming attended the commissioning ceremony held in Western Australia and delivered a speech. Western Australia Governor Hon Roger Cook, Australian Resources Minister Madeline King, Chinese Consul General Long Dingbin, Chinese Consulate General in Perth, Chinese Embassy in Australia, Rio Tinto Group CEO Jakob Stausholm, and Aboriginal Representatives and other relevant parties to the project witnessed this important moment together.
Baowu builds the strategic consensus of "new stage, new strategy, and new model", and regards the construction of a more international Baowu as an important part of "the new stage requires new strategic breakthroughs" and accelerates the construction of a world-class enterprise. Focusing on building a more international Baowu, Baowu has developed iron ore resources around the world, and the key areas of overseas iron ore resources layout have extended from Australia to West Africa. By promoting the completion and production of core projects such as Xipo and Ximangdu, laying a foundation for 100 million tons of production capacity.
The total investment of the Xipo project is approximately AUD 2.4 billion, with Rio Tinto holding 54% of the shares and Baowu holding 46% of the shares. It is another landmark achievement of the deepening of cooperation in the Pilbara region since the 2002 Baorigi joint venture project. The project's designed annual production capacity is 25 million tons, which will provide the Parabodu Mining Center with up to 20 years of resource guarantee, further consolidating Baowu's strategic fulcrum position in the global iron ore resource layout. The project broke ground in March 2023, the highway system was put into production in June last year, and the belt system was fully completed in March this year. The project will provide more than 880 employees of Parabodu to provide long-term employment opportunities, enhance local social stability and sustainable development capabilities, and inject new vitality into the Western Australia and Australia's economy. At the same time, the project also includes the protection of local cultural heritage as its core consideration.
Hu Wangming said in his speech that the Xipo project is not only the core fulcrum of the global resource layout of Baowu and Rio Tinto, but also a strategic cooperation between two leading enterprises in the industry, and has also become a model project for China-Australia economic and trade cooperation. Xipo's rise is a benchmark mine with leading technology, green and efficient technology. Behind it, the hard work and wisdom of countless people are gathered. It is an important achievement in practicing the concept of green and low-carbon development and promoting collaborative innovation in the resource industry. Baowu will continue to work with partners such as the Western Australian Government, Rio Tinto, and Aboriginal Community to promote the balanced development of resource development and ecological protection, make project operations more inclusive and sustainable, and drive regional industrial upgrading with scientific and technological innovation, injecting new impetus into regional prosperity and stability of the global industrial chain.
At the ceremony, Roger Cook said that the commissioning of Xipo Mine in Xipo Mine is of great significance to the economy of Western Australia, and we will continue to support the development of the resource industry.
Madeline King pointed out that Xipo Mine will further consolidate Pilbara's strategic position as the "engine" of Australia's economy.
Shi Daocheng said that the construction of the Xipo Mine has injected new vitality into the Palabodu old mine area. The strategic cooperation with Baowu ensures that Rio Tinto's world-leading Pilbara hybrid mine can continue to provide it to its largest customers.
Indigenous representatives said that the Xipo project is the starting point for the local cultural heritage to be understood and respected by more people.
Source | China Baowu
