China Iron Ore & Steel Assoc. Seeks to Break Grip of Big 3 Iron Ore Miners

Mineweb reports Chinese steelmakers hope their investments in offshore iron ore projects will lessen their reliance on foreign miners and thus, lower iron ore prices.

The market news is quoted as saying,

A top official from the China Iron Ore & Steel Association says China will only be able to break the grip of the three major iron ore miners, if it gets half of its iron ore imports from Chinese-vested operations.

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