Rio Tinto, Baoshan Sign Three-Year Coal Supply Contract
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Rio Tinto Group, the world’s third-largest mining company, signed a contract to supply coking coal to Baoshan Iron & Steel Co., entering its first long-term agreement for the fuel with a steelmaker in China.
Rio signed a three-year contract in Shanghai last week, Baoshan, China’s biggest publicly traded steelmaker, said today in a newsletter, without giving a volume or value of the contract. Supplies will start this year, Baoshan said.