The Western Range iron ore mine Photo: Courtesy of Baowu

The Western Range iron ore mine, a joint venture between China Baowu Steel Group (Baowu) and multinational mining corporation Rio Tinto, was formally put into operation on Friday.

The West Pilbara project has a total investment of around 2.4 billion Australian dollars ($1.56 billion), with Rio Tinto holding a 54 percent stake and Baowu holding 46 percent. The project is designed with an annual production capacity of 25 million tons and will provide up to 20 years of resource support for the Paraburdoo mining hub, further strengthening Baowu's strategic position in the global iron ore supply landscape, according to the official WeChat account of the Chinese steel conglomerate on Friday.

The project will provide long-term employment opportunities for more than 880 staff members at Paraburdoo, contributing to local social stability and sustainable development, while injecting new vitality into the economy of Western Australia and the broader Australian economy, according to the company. At the same time, the project places the protection of local cultural heritage at its core.

Western Australian Premier Roger Cook said that the opening of the Western Range is a significant achievement, and its importance to Western Australia's economy cannot be overstated.

He also said that this project is a great example of the deep and long-term relationships that Western Australia has with its overseas trading partners.

"This is a great example of the cooperation that can take place in terms of global trade when you see great companies like the Baowu Group and Rio Tinto working together on great outcomes, and this is a really good example of mutual success, which comes from these deep and ongoing relationships," he said.

Australian Minister for Resources Madeleine King said: "The opening of Western Range is fantastic news for the Pilbara, for Western Australians, for Traditional Owners and for the nation."

"The Pilbara is the engine room of the nation's economy. Projects like Western Range will keep that engine running for future generations of Australians," the official said.

Speaking at the opening ceremony, Hu Wangming, chairman of Baowu, said that the West Pilbara project is not only a key pillar in the global resource strategies of both Baowu and Rio Tinto, but also a strategic collaboration between two leading industry players. It has become a model project for China-Australia economic and trade cooperation, Hu said.

Hu said that the success of the Western Range project is not only a milestone in China-Australia resource co-operation, but also a vivid reflection of joint efforts and resilience from all parties involved.

Rio Tinto Chief Executive Jakob Stausholm said "Opening Western Range is an important step in Rio Tinto's extension plans in the Pilbara and ensures the longevity of one of our oldest mining hubs, Paraburdoo, which began operating in 1972."

China-Australia cooperation has expanded, with frequent bilateral exchanges and growing collaboration since last year.

On the sidelines of a WTO mini-ministerial meeting in Paris, China's Commerce Minister Wang Wentao met with Australia's Minister for Trade and Tourism Don Farrell, during which the two sides held pragmatic and constructive discussions on deepening China-Australia economic and trade relations and strengthening multilateral and regional economic cooperation, the MOFCOM said in a statement.

Wang emphasized the need to implement the consensus reached by the leaders of the two countries, fully leverage the potential of the China-Australia Free Trade Agreement, create a favorable environment for business cooperation between the two countries, and jointly promote new progress in bilateral economic relations.

Global Times