China receives the first iron ore cargo from Simandou

A ship carrying nearly 200,000 tonnes of ore from the Simandou project in Guinea reached Majishan port in Zhejiang, according to China Baowu Steel. China, which imports about 80% of its iron ore, invested heavily in the project to increase its supply security.

Why it matters. A new low-cost source of high-grade ore can push down prices for every iron ore producer.

Source

MINING.COM

In the course

Module 4: Metal markets