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In August, China’s iron ore production rose 2 percent to reach 99.58 million tonnes, the second highest on record.
In August, China’s iron ore production rose 2 percent to reach 99.58 million tonnes, the second highest on record.
The press release is quoted as saying:
China wants to up domestic production to ease its dependence on imports and on the three global mining giants, Vale (VALE5.SA), Rio Tinto (RIO.AX)(RIO.L) and BHP Billiton (BHP.AX)(BLT.L). Domestic ore output has risen rapidly over the course of the year, and reached a record of 101.55 million tonnes in June.