UPDATE 1-Rio extends iron-ore deal to other Asian customers

(Adds Japanese steelmakers, South Korea's POSCO)

SYDNEY, July 1 (Reuters) - Global miner Rio Tinto (RIO.AX) (RIO.L) has signed further Asian contracts locking in price rises of up to 96.5 percent for its Australian iron ore, in line with a recent deal struck with China's Baosteel, Rio said on Tuesday.

Japanese steelmakers Nippon Steel Corp (5401.T) and JFE Steel Corp (5411.T) and South Korea's POSCO (005490.KS) said they have agreed to pay Rio nearly double the previous price.

Nippon Steel, Japan's largest steelmaker, relies on Australian iron ore producers for some 60 percent of its supplies.

Last month, Baosteel (600019.SS) agreed to pay up to 96.5 percent more for its iron ore under a term contract with Rio, higher than the 65-71 percent that Chinese mills and Brazilian miner Vale (VALE5.SA) clinched earlier in the year.

For an earlier story see [ID:nSHA250087]

"Rio Tinto announces that it has reached agreement with all of its customers in Asia for iron ore deliveries from Hamersley Iron, Robe River and Hope Downs for the contract year commencing 1 April 2008," it said in a statement.

Another Australian miner, BHP Billiton (BHP.AX) (BLT.L), has not announced any deals with Asian mills yet. (Reporting by Mark Bendeich, additional reporting by Taiga Uranaka in Tokyo)