Rinehart looks beyond China to beat iron ore gloom

Melbourne

THE Asia-Pacific's richest woman is gearing up to start shipments from her US$10 billion iron ore project in Australia. Even with prices at 10-year lows, she's displaying no lack of confidence in the mine's success.

Her mine isn't relying solely on sales to China, the biggest iron ore buyer. This limits the project's exposure to a market where steel demand is judged to be peaking. Instead, she's locked in supply contracts with three of the largest iron ore consuming Asian nations outside of China.