Shunyu Yao

In December 1988, the Channar iron ore mine in Western Australia, then owned jointly by Rio Tinto Group and Sinosteel Corp., embarked on its first stage of development. The project involved international financing and marked China's inaugural overseas mining investment. A decade later, in 1998, China completed its first overseas nonferrous mine transaction when China Nonferrous Mining Corp. Ltd. acquired the Chambishi copper mine in Zambia.