Will India overtake China as our biggest iron ore customer? | The Business | ABC News

The world's largest iron ore miner says it needs to open a new mine every year until the end of this decade to meet demand from China and other markets. Rio Tinto expects India will one day overtake Beijing to become its biggest customer. The boss of BHP Mike Henry doesn’t share the same outlook. Meanwhile Fortescue Metals Group is focusing on decarbonising its product to appeal to China. Despite talk of a slowdown in the world's second biggest economy, prices for Australia's number one export have soared to almost $US130 dollars a tonne.
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