According to a report from Australian Rio Tinto and the Australian National University, Chinese iron ore demand is predicted to increase by 8 percent per year in next ten years.

Rio Tinto exported some 17 million tons of iron ore to China in 2006. The report indicates that China in metal demand will be the total output of the current global from 2000 to 2020.

The company said it will spend an additional US$305 million to raise output at its Hope Downs iron ore mine by 30 percent.