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Rio Tinto will boost iron ore exports to China

Australian mining company Rio Tinto expects to increase its iron ore export to China significantly this year, while the global mining companies are fighting intensely for China's favor.

Mining company Rio Tinto expects to deliver 240 million tons of iron ore to China this year, a 20 percent increase from last year, according to Reuters.

The announcement comes at a time whe the global mining companies are fighting for the attractive market shares in China, which recently opened the gates for Brazil's Vale with a major agreement that gives the mining company's giant Valemax vessels access to Chinese ports.

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