At a ceremony in Beijing on the 25th February 2013, some 100 guests from business and politics celebrated the founding of RAG Mining Solutions (Beijing) Ltd. The founding of the company's Chinese subsidiary in Beijing illustrates the great importance that RAG Mining Solutions GmbH attaches to the Chinese market.
The announcement pushes Rio's new CEO Sam Walsh to deliver on his promise of vast operating cost cuts, asset sales and reduced capital expenditure ahead of a possible collapse in iron ore prices.