RIO 0.61% $123.47 rio tinto limited

first iron ore sale to india :)

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    Rio Tinto said that it has agreed to sell its first iron ore to India, marking a strategic sales breakthrough in the Asian country.
    "There will be a shipment arriving there (India) in December, so one is due to leave shortly," Rio Tinto Iron Ore Chief Executive Sam Walsh told Dow Jones Newswires at a function in Perth Wednesday evening.

    The cargo, from Rio's Pilbara operations in Western Australia state, is destined for Essar Steel, a large Indian steel maker, Walsh said.

    India, which boasts a growing domestic steel market, is normally an iron ore exporter, mainly to the Chinese spot market.
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