(Yicai) Aug. 2 -- Rio Tinto Group has appointed Xu Feng, who has helped the firm achieve key progress in an overseas mining project, as chief executive of its business in China, marking the first change at the post in the mining giant's largest market in almost 11 years.

Xu, who was president of business development of Rio Tinto in China, stepped in as new country CEO effective yesterday, the London-based company announced on the same day. Xu succeeds Ren Binyan, who will retire but continue to serve as honorary chairman of the region until next March, it added.

Xu joined Rio Tinto in 2021 to mainly oversee the development of overseas mining and metal projects, according to the company. Among his most notable achievements is his significant contribution to the Simandou mining project in Guinea, developed in collaboration with several Chinese firms, including steel giant China Baowu Steel Group.

The Simandou mine was discovered by Rio Tinto's subsidiary Simfer in 1997 and is one of the world's largest undeveloped iron ore deposits. With the help of Chinese joint venture partners, the project finally met all the conditions for investment and development last month after being stalled for almost 30 years and is expected to achieve its first production next year, Rio Tinto previously announced.

Rio Tinto has shipped 4 billion tons of iron ore to China since its first sale in 1973, the company announced last month, adding that it currently delivers around 250 million tons a year to the country.

Xu has worked as managing director of the China investment banking division at BMO Financial Group in Canada and has held executive positions at Barclays Capital Asia, BHP Group, China Minmetals, and China Nonferrous Metals, Rio Tinto pointed out.

Ren joined Rio Tinto as China vice president in 2010 and was promoted to CEO in 2013. He led the firm to establish and strengthen cooperative relationships with numerous local companies, including the joint development of the Pilbara mine in Western Australia with China Baowu.

Editor: Martin Kadiev