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China wants to buy iron ore from a wider pool of sellers

Michael Allan McCrae | July 14, 2012 | 4:41 pm Australia China Iron Ore 
Iron ore price stabilizes: BHP, Rio, analysts say fall 'temporary'

China plans to diversify iron ore imports and increase the ratio from independent miners to 50%, according to comments made Wang Xiaoqi, vice-chairman of the China Iron and Steel Association.

Wang announced the plans in Australia, during a signing ceremony where Atlas Iron Ltd. joined a newly-launched iron ore trading platform, China Beijing International Mining Exchange.

Last year about 60% of iron ore imports came from three mining giants: Rio Tinto, BHP Billiton and Vale.

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