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Business View Australia - February 2015 23
ore and other commodities. The rate of this growth,
and the demand for iron ore, has been unprecedent-
ed.
“It took nearly 30 years for BHP Billiton to ship 100
million tons of iron ore to China and then only 12
more years to reach the one billion ton milestone.”
Also speaking at the celebration event, Henry ac-
knowledged China’s extraordinary development
over the past two decades and the transformational
role the country’s demand had played in the global
iron ore market.
“Thanks to China’s tremendous achievements in
manufacturing and steelmaking, part of the iron ore
we export comes back to Australia as high-quality in-
frastructure and equipment,” he said. “The resourc-
es industry now relies on bulk materials handling
machines, transportable buildings and rolling stock
made in China.”
BHP Billiton’s iron ore journey with China started
more than 40 years ago with the first shipment of
iron ore from Port Hedland to China in 1973.
“The relationship between BHP Billiton and China
has evolved beyond the two-way trade in raw materi-
als and industrial products with the launch of the
physical iron ore transaction platforms in China and
Singapore in partnership with steel mills, traders
and producers,” Henry said.
With China accounting for nearly 50 per cent of the
world’s total steel production, Wilson recognized the
nation’s contribution to the development of the Pil-
bara in Western Australia.
“Chinese demand growth has supported a trebling
of BHP Billiton’s iron ore production over the last
two decades,” he said.
“We are grateful for our long-term and mutually
beneficial partnership with China. Our iron ore has
played a part in the country’s development, and in
turn China’s rapid growth has transformed the Pilba-
ra iron ore mining industry to the benefit of Austra-
lia. Over the past decade, we have invested US$25
billion in our Western Australian mines, rail and port
infrastructure to deliver the high-quality iron ore
needed by our steel-making customers in China.”