ironoremineSteel industry sector in Japan and Korea from year to year is always experienced growth, so that Japan and Korea is the country’s largest iron ore importer in the world other than China. Increased import of iron ore to Japan and Korea is to support the production of steel. The opportunity of iron ore import demand, making the iron ore mining company Fortescue Metals in negotiations for iron ore exports to Japan and Korea. If Fortescue Metals managed to export iron ore to Japan and Korea, the Fortescue will take some market share from Rio Tinto and BHP Billiton.

Fortescue, which began with A $ 2.8 billion ($ 2.6 billion) project last May, has sold all ore produced for the steel mills in China, the world’s biggest buyers. The factory was talking with a contract to buy ore from Rio and BHP, Australia’s second largest exporter, Rowley said.

“We have active discussions with them,” Executive Director Graeme Rowley said today in an interview. As a “contract comes for renewal I would expect that they will come and speak very positively to us about us join in their supply chain,” he said, without identifying the plant.

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