China steel, iron ore edge lower in wobbly trade amid tepid demand

Follows signing of FTA seen as major opportunity for Australian miners.

Billionaire Andrew Forrest, who made his fortune as the driving force behind Fortescue, says high cost competitors will exit the market shortly.

The leading edge is starting to arrive.

Production ramp-up comes despite price plunge earlier this year.

Firm says no connection with iron-ore price.

The firm said it has already put in place savings initiatives in various areas including mining equipment rates, rail car leasing rates and corporate and administration costs.

Cuts will occur because the sector is switching from the job-heavy construction stage to the operational phase, which requires fewer workers.

Bad blood over Simandou.

Mining innovation. What could be controversial about that?