China on recovery drive, but risk generator in metals markets – report

Chinese stockpiles at new record high and sovereign debt downgrade worry investors.

30m tonnes per year operation jointly owned by BHP and Vale shuttered since November 2015 following dam burst.

Chinese furnaces make the most of slump in domestic prices to double scrap charge rates which could displace as much as 70 million tonnes of iron ore.

The company said that today’s announcement is part of its ongoing capital management plan.

The company, which could lose the arbitration as a result, will have to pay the amount to former partner Vale.

The change will apply to more than 5,500 Australian suppliers under $1 million of expenditure.

Forget One Belt, One Road, the impact of Xiongan New Area on copper, iron ore and aluminum prices will be felt much earlier says new report.

US activist investor steps up pressure on BHP to ditch petroleum. Mackenzie says company already knows what to do to lift value by 50% and double return on capital.

Move comes barely seven months after Rio Tinto agreed to sell it its stake in Simandou for up to $1.3 billion.