Severstal usually exports 40% of its annual production, of which 3 million tonnes go to Europe.

Russia accounts for an estimated 10% of global steel trade.

The global miner has increased female participation across the business by two-thirds since 2016, lifting it to over 30%.

China aims to "fundamentally" solve the shortage issue in steelmaking ingredients in 10-15 years, said the vice-chairman of the China Iron and Steel Association.

While Russia and Ukraine are not major suppliers of iron ore to China, the two countries now at war usually export to other European countries.

Andrew Forrest's Squadron Energy has acquired the Clarke Creek project - a wind, solar and battery farm development.

The company will also undertake a series of obligations to remove all of its upstream tailing dams.

Vale executives said on Friday that Russia's invasion of Ukraine is expected to influence the price of iron ore pellets.