On April 19, 2012, BHP Billiton and China Beijing International Mining Exchange (CBMX) held a market access agreement signing ceremony in Beijing, which officially makes BHP Billiton a sponsor member of China Iron Ore Spot Trading Platform.
Mr. Wang Xiaoqi, vice chairman of China Iron & Steel Association (CISA), Mr. Wang Chunsheng, the deputy secretary general of CISA, Mr. Wang Yingsheng, director of market research department of CISA, Mr. Xu Xu, chairman of China Chamber of Commerce of Metals Minerals & Chemicals Importers &Exporters (CCCMC), Mr. Liu Zhiyang, director of the Ministry of Mines of CCCMC, Mr. Alan Chirgwin, Iron Ore General Manager of BHP Billiton, Mr. Sundeep Singh, Iron Ore Book Manager of BHP Billiton, Mr. Michael Linke, Mr. Shao Yungao and Ms. Jin Lihua, Iron Ore Marking Managers of BHP Billiton, Mr. Dong Chaobin, the president of CBMX, Mr. Liang Ruodong and Mr. You Song, the vice presidents of CBMX, attended the ceremony.
Mr. Alan Chirgwin, Iron Ore General Manager of BHP Billiton and CBMX’s president Mr. Dong Chaobin signed the contract representing the two sides.
China Iron Ore Spot Trading Platform was launched under the joint sponsorship of CISA, CCCMC and CBMX on January 16, 2012. As of now the platform has entered its testing phase. As an independent and public platform operated by a third party, the platform will provide users with standardized and transparent services for iron ore spot trading. The platform will eventually be able to fully utilize the benefits of the iron ore market, objectively and genuinely reflecting supply and demand relationship and creating a fair, just, and transparent international iron ore pricing mechanism, thereby promoting the healthy, regular, and stable development of the iron ore market. China Iron Ore Spot Trading Platform thus welcomes international and China domestic members of mines, steel mills and traders to join in the business and cooperation through the platform.