| Look out Vale and Rio Tinto, China’s government wants to secure its future iron ore demand from mines it owns, rather than pay top dollar to the big three foreign iron ore traders, including Australia’s BHP Billiton.
Li Xinchuang, deputy secretary-general of China Iron & Steel Association, told China Daily on Monday that the country will only be able to break the grip of the three major global miners if it gets half of its overseas ore requirements from Chinese-invested mines..............................................Full Article: Source
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