RIO Tinto has signed long-term contracts to supply Pilbara iron ore to Hyundai Steel.
More than 40 million tonnes of iron ore will be exported to the Korean producer over the next decade.
Hyundai Steel is Korea’s second largest steel maker and the world’s second largest electric arc furnace producer.
Rio Tinto’s joint venture partners are also party to the deal. Hamersley Iron, Robe River and Hope Downs will start shipping ore in 2009, ramping up to an annual total of 4.6 mega-tonnes from 2012 to 2019.

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