If you were to take a look at Rio Tinto's global "shopping cart" for 2025 $RIO (+0,36%)
$RIO (+0,91%) for 2025, you would find more than just the usual mining basics.
You would see a record US$4.3 billion bill from Chinese suppliers, a clear sign that the global mining giant has gone from being China's "favorite stone seller" to one of its most enthusiastic business partners.
Rio Tinto's recent purchases in China, including massive 230-tonne dump trucks and powerful graders for the Simandou project in Guinea, state-of-the-art 90-tonne electric dump trucks with swappable batteries for Oyu Tolgoi in Mongolia and specialized rail components for Pilbara in Australia, are proof that China has transformed from Rio Tinto's largest customer to an indispensable architect of its global supply chain ecosystem.
The relationship between China, the world's largest importer and consumer of iron ore, and Rio Tinto, the world's largest producer of seaborne iron ore, has officially entered an "upgrade" phase as global mining giants rely on China's high-tech manufacturing and rapid innovation to power their mines around the world, industry experts said.
"Made in China" is now the high-tech centerpiece of the world's most ambitious industrial projects, said Zhao Xiangbin, chief strategist at Beijing Gold and Forex Fortune Investment Management.
It's no longer just about transporting iron ore from the red dust of Australia to the steel mills of China, he said.
"China is our biggest customer and also an important supply base for us," said Jamie Sanders, head of global procurement at Rio Tinto. "We clearly recognize the distinct advantages of the Chinese supply chain."
Sanders pointed out that the capabilities of Chinese suppliers in terms of fast response times and rapid innovation are unique in the world.
The cooperation model with Chinese companies has evolved from a traditional buyer-supplier relationship to a "much closer partnership" focused on creating shared value across the company's international project portfolio, he said.
According to Rio Tinto, Chinese companies have played a fundamental role in the construction of major infrastructure projects overseas.
The company recently announced the first shipment of high-grade iron ore from the Simandou deposit to the port of Rizhao in Shandong province, another cooperation project between Rio Tinto and Chinese partners, including China Railway 18th Bureau Group, China Harbour Engineering Co Ltd and Chinese construction machinery manufacturer XCMG Group.
While China Harbour Engineering provided key equipment and services to support the construction, XCMG provided essential engineering services and heavy equipment to bridge the gap between the inland mines and the coast, it said.
The contract with XCMG also includes an order worth 800 million yuan (US$110 million) for a full range of mining equipment, including dozens of 230-ton dump trucks and massive 350-horsepower and 550-horsepower bulldozers, to serve as the high-tech muscle Rio Tinto has selected to build a new global resource hub from the ground up.
Rio Tinto also purchased eight battery-powered electric dump trucks from China's State Power Investment Corp for its Oyu Tolgoi copper mine, which is set to become the fourth largest copper mine in the world by 2030.
The increase in procurement underscores a strategic realignment by the Anglo-Australian mining company, which is increasingly looking to Chinese technology and equipment to support massive infrastructure developments, Zhao said.
By taking advantage of the Chinese supply chain, the company aims to increase its operational efficiency while accelerating the transition to lower-emission mining technologies, he said.
While China has long been an important market for global mining giants due to its huge market size, major players such as Rio Tinto, BHP and Vale are keen to buy equipment from Chinese manufacturers, he added.
"The capabilities of Chinese suppliers in terms of fast response times and rapid innovation are second to none in the world," Sanders said.
As China accelerates the development of new productive forces, Rio Tinto is at the forefront of capitalizing on these new opportunities, he said.
For Rio Tinto, the $4.3 billion spent in 2025 is not the target - it is the new baseline. The company has now set itself the task of penetrating even deeper into the Chinese market and seeking regional partners who can solve the next mining challenges.
"We need to develop a deeper understanding of which regions and partners in China we can work more closely with," said Sanders.
"By combining Rio Tinto's century of mining experience with China's relentless pursuit of new high-value productive forces, both are doing more than just moving rocks: they are building a faster, greener and more connected version of the global mining industry - one $4.3 billion investment at a time."