THE ABE & ABBOTT SHOW
A Japanese Komatsu truck built with steel made from Australian iron-ore? That could well be a side aspect of this month’s Abe and Abbott show, in which Japanese Prime Minister Shinzo Abe, second from left, and Australian Prime Minister Tony Abbott, second from right, toured the West Angelas iron-ore mine, owned jointly by Rio Tinto and two Japanese companies. Some $640-million is being sunk into the mine, in the Pilbara region of Western Australia, to enable it to produce 35-million tons of iron-ore a year. Abbott struck an economic partnership agreement with Abe that waives tariffs on a long list of metals and minerals that Australia sells to Japan, the world’s third-largest economy. Abbott attributed the Pilbara’s success to a combination of Australian mining know-how and Japanese capital and technology. Flanking the two Prime Ministers are Rio Tinto CEO Sam Walsh and Rio Tinto Iron Ore CEO Andrew Harding.
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