Confidence spurs first five-year agreement

"We are honored to be the first exhibitor to sign a five-year cooperation agreement with the China International Import Expo Bureau," said Alf Barrios, chief commercial officer and China chairman of Rio Tinto Group, in a recent interview with China News Service, adding the agreement reflects Rio Tinto's long-term commitment to deepening its strategic cooperation with China.

On May 22, Rio Tinto and the CIIE Bureau signed a memorandum of understanding for long-term exhibition cooperation from 2024-28, making it the first Fortune Global 500 company to sign such a contract Coincidentally, in 1973 Rio Tinto became the first company to supply iron ore to China by shipping its inaugural batch to Shanghai. Those significant achievements, spanning 50 years, affirm the confidence the world's largest iron ore supplier has in the Chinese market.

Rio Tinto is headquartered in London, the United Kingdom, and engages in mineral resource exploration, mining and processing. Its main products include iron ore, aluminum, copper, diamonds, boron, titanium dioxide, lithium, industrial salt and other mineral raw materials. Iron ore represents the company's largest business segment, with resources primarily sourced from Canada and the Pilbara region of Western Australia, today it is ranked 254th on the Fortune Global 500 list.

During the fifth CIIE, Rio Tinto showcased 14 premium metal minerals and green innovative solutions from around the world. The group also signed cooperation agreements with Aluminum Corporation of China and Sinomine Resource Group during the expo.

"For multinational companies, the CIIE has become one of the most important events in China," said Barrios, who noted that companies use the expo as a platform to showcase their latest products and technologies, expand cooperation with Chinese partners and tap into the immense potential of the Chinese market.

Although 2022 was Rio Tinto's first time participating in the CIIE as an exhibitor, the company has been actively involved since the inaugural event in 2018 through sponsorship, forum participation and other channels. Last year, Rio Tinto became a Diamond Member of the Hongqiao International Economic Forum, and Barrios said the International Economic Forum is an internationally influential platform where businesses can engage in discussions on major global issues of international politics, business and academia while strengthening their ties and exchanges with China.

For Rio Tinto, 2023 is a special year as it marks the 150th anniversary of the company's founding. It is also the 50th anniversary of its first shipment of iron ore to China and the 40th anniversary of establishing its first representative office in Beijing. Barrios said he will lead the company's global executive team at the sixth CIIE to personally experience the "pulse and vitality" of the Chinese market.