Will India overtake China as our biggest iron ore customer? | The Business | ABC News
The world's largest iron ore miner says it needs to open a new mine every year until the end of this decade to meet demand from China and other markets. Rio Tinto expects India will one day overtake Beijing to become its biggest customer. The boss of BHP Mike Henry doesn’t share the same outlook. Meanwhile Fortescue Metals Group is focusing on decarbonising its product to appeal to China. Despite talk of a slowdown in the world's second biggest economy, prices for Australia's number one export have soared to almost $US130 dollars a tonne. Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2023-11-1... ABC News provides around the clock coverage of news events as they break in Australia and abroad, including the latest coronavirus pandemic updates. It's news when you want it, from Australia's most trusted news organisation. For more from ABC News, click here: https://ab.co/2kxYCZY Watch more ABC News content ad-free on ABC iview: https://ab.co/2OB7Mk1 Go deeper on our ABC News In-depth channel: https://ab.co/2lNeBn2 Like ABC News on Facebook: / abcnews.au Follow ABC News on Instagram: / abcnews_au Follow ABC News on Twitter: / abcnews Note: In most cases, our captions are auto-generated. #ABCNews #ABCNewsAustralia
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