China’s steel demand shifts to higher-grade ore, Rio Tinto exec says
"The demand for high grade ore continues to be strong," chief commercial officer Bold Baatar said.
BHP Billiton (ASX, NYSE: BHP)(LON: BLT), the world’s biggest mining company, is said to have made a significant copper discovery in the remote West Australian outback, reports The Australian.
The finding at the Succoth prospect sits to the north-northeast of BHP’s massive but low-grade Babel-Nebo nickel-copper discovery, which remains undeveloped since it was first identified by WMC Resources 13 years ago.
In February the company allegedly found a massive high-grade nickel deposit —Venus—, which may help to reshape the future profitability and direction of BHP’s struggling Nickel West business.
Unlike Venus, the Succoth find is not close to any existing mining infrastructure, which would demand a high investment. But the world’s biggest resources company by market value said Monday it is prioritizing copper in its exploration budget.
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