Media release

Australian Minister for Trade, Mark Vaile

September 17, 2000

Export success follows Minister's visit to China

Following a business meeting facilitated by Trade Minister Mark Vaile in southwest China earlier this year, Western Australia's Portman Ltd has signed a A$1.5 million iron ore supply contract with a major Chinese steel producer.

The deal involves the supply of 50,000 tonnes of iron ore to the Kunming Steel Mill this month, with the potential for ongoing sales of up to 400,000 tonnes a year worth an estimated A$12 million.

Minister Vaile facilitated the important business meeting in Kunming during his official visit to China in May, when he signed a landmark trade agreement with the Chinese Government supporting China's accession to the World Trade Organisation (WTO).

His involvement in the meeting demonstrated the seriousness with which Australian exporters view China. He played a major part in impressing upon the Chinese the quality of the product and Australia's dependability as a long-term supplier.

The Portman Ltd contract follows the opening of an official Austrade office in Kunming in the southwestern province of Yunnan earlier this month to identify new opportunities for Australian exporters in Western China.

Mr Vaile said the success of Portman Ltd highlighted the vast opportunities China offered, particularly in the outlying western provinces earmarked by the Chinese government for massive development in the next five to ten years.

"Western China, with 286 million people, over half the country's land mass and a quarter of the country's GDP, represents the next frontier for Australia in developing export markets within China," Mr Vaile said.

During his May visit, Minister Vaile also led an Australian Business Mission of over 70 representatives including a large contingent from Australian mining companies who've received a major push into the China market through Mr Vaile's on-ground support.

Iron ore is Australia's number one export commodity to China, with shipments last financial year worth over A$860 million.

Contacts: John Kunkel (Minister's office) 0413 004 314

Tanya Lim (Austrade) (02) 9390 2118 or 0419 204 898

Local Date: Friday, 21-Nov-2008 02:51:21 EST