Iron is a crucial mineral that has ling been supporting the global economy. You will realize that this mineral is an essential ingredient in steel making. Therefore, many companies pool their resources to increase the production of iron ore and nickel. Iron can be used for commercial projects, such as wind turbines, appliances, and in the automobile industry.
In this article, you will discover more information about joint ventures in iron ore and nickel mineral mining industry.
Joint Venture You Can Find in Iron Ore Industry
When it comes to industrial use, iron is the most used metal around the world. Besides, many companies have jointly ventured into this business due to the high demand for iron. Iron has a high cost of production, and only a handful of joint companies have ventured in this industry. You can find joint companies around the globe that control 70% iron production. Some of the top iron-producing joint ventures include the following:
- BHP and Rio
- Rio Tinto and Sinosteel
- Macarthur’s Joint Ventures
Have you ever heard of Sinosteel Metals Group Limited? If no, you need to understand that this is one of the most significant iron minerals producing companies. It has ventured into the iron mining industry along with Rio Tinto. Their business partnership focuses on developing world-class infrastructures and assets for mining in Western Australia.
Fluor and SKM Iron Ore Joint Ventures
Also known as FAST JV, this iron ore joint venture began in April 2008. Since this time, it has expanded its iron ore operations in Pilbara. It has also upgraded Port Heldad to mine sites and rail. Therefore, it has helped in production of more iron ore in Australia.
When you have sufficient resources, you can establish an iron producing company. You can also engage in another venture, such as selling produced metal. All you need is to follow things that successful iron-producing companies do.