Rio Tinto Minerals boosts investment in Asia

As the demand for industrial mineral borates continues to grow in Asia, Rio Tinto Minerals opened a technology center in Suzhou, Jiangsu province, on Tuesday.

Borates are a kind of industrial mineral needed to make a variety of products including high technology glass used in flat screen televisions and laptops, fiberglass to make buildings energy efficient, and fertilizers to help farmers increase crop quality and yields.

“Asia is the largest and fastest-growing market for borates in the world, accounting for 50 percent of global demand, and refined borates play an important role in promoting the standards of living for Asian people and addressing energy and food shortages,” said Liu Xiaoling, president and chief executive officer of Rio Tinto Minerals.

The Asia Technology Center, with an investment of $4 million, will provide important internal capabilities in glass and ceramics, metals and advanced materials, as well as agriculture and specialty chemicals to support Rio Tinto Minerals' research and development expansion in Asia.

Liu said there is a great potential demand for borates in China. Up to one-third of the nation's farm land lacks borates, making the mineral a key solution to increasing land fertility as China's per capita arable land is only 40 percent of the world average.