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It represents and embodies the synergy of a Chinese-Australian partnership that will produce significant economic and social benefits for our countries for decades to come.

The Sino Iron project is one of China's most significant investments in the Australian resources sector and is the largest magnetite mining and processing operation under construction in Australia.

The Sino Iron project is a result of China's rapid economic and industrial expansion that has altered international trade, investment and production patterns at regional and global levels. The project is a first-hand example of how this growth can be of benefit to Australia, particularly the resources sector in Western Australia. Australia is well placed to gain from China's rapid industrial expansion because of its flexibility, dynamism and because of the complementarities between the two economies.

Whilst it is recognised that Australia and China will enjoy mutual wide-ranging economic benefits from the Sino Iron project, our project will also ensure and deliver long-term social and community dividends to the Pilbara region in Western Australia and, most importantly, the region's Traditional Owners.

The Sino Iron project while being relatively new, has achieved a great deal within a short time frame and I am confident of our collective ability to deliver this project.

I am personally very proud to be part of this ambitious undertaking. I hope you will join me to be a part of this journey which will no doubt provide us all with an incredible sense of fulfilment and achievement once we attain our goal.