Rio Tinto Limited
(ASX:RIO) has welcomed the signing of the Australia-Japan Economic Partnership Agreement by Prime Minister Tony Abbott and Japanese Prime Minister Shinzo Abe.
The mining giant says Japan is one of its oldest customers and the new deal will ensure the partnership continues to build and trade links continue to grow.
While the agreement won’t materially impact the company CEO Sam Walsh says both nations will benefit through increased investment flows and greater economic growth.
In his address to a joint sitting of federal parliament Prime Minister Abbott said Australian coal, iron ore and gas has powered Japan's prosperity since 1957.
Rio Tinto reports Australian energy and mineral resources account for almost 90 per cent of merchandise exports to Japan. The company’s Australian operations are major suppliers of commodities including coal, iron ore, diamonds, uranium and salt.
Rio Tinto swung from an annual loss to a profit of $1.2 billion in the 2013 calendar year.
