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A diversified metals mining multinational and the world’s largest single producer of iron ore, Vale produced 320 million tonnes in 2014 for domestic use and exported to countries including Germany, Japan, South Korea and China.

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Nov 20, 2014· For one, Bukit Besi’s ore is less rich in iron than what rivals produce in Australia or Brazil, although better than most Chinese ore. Less concentrated iron ore needs to go through a costly extra step, known as beneficiation, before it can be sold. That eats into CAA’s profit. Transportation, too, is a costly proposition.

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Australia first began to sell iron ore to China as far back as 1973, only one year after the establishment of diplomatic relations between our two countries, and not long after the iron ore mining industry was established in the Pilbara region of Western Australia.

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The graph shows iron ore mining in China from May 2017 to May 2018. In May 2018, about 67.25 million metric tons of crude iron ore had been extracted in China.

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While the China Metallurgical Industry Planning and Research Institute said it sees iron ore demand and steel output continuing to increase this year, Australia, one of the country's top importers, said Monday it expects prices to fall to $51.50 a tonne in 2018, a 20% drop from last year.

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The price of iron ore on Thursday turned positive amid new signs that China, which dominates the seaborne trade in the steelmaking raw material, will be pushing ahead with stimulus programs to boost its slowing economy.

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