China won’t come to the rescue in global iron ore supply crisis

"The power is shifting again from financial centres to the producers of real goods. The place to be is in commodities: raw materials and natural resources."

Rescuers had not located the workers by early morning Monday.

The $3 billion estimate is down from an initial $7.4 billion.

Rio Tinto will mine three iron ore deposits using self-driving trucks and launch autonomous trains and drills in 2014.

Charges not related to Brockman position.

The world-class deposit has proven reserves of 2.5 billion tonnes at 34% iron.

Diamond magnate Beny Steinmetz's BSG Resources caught up in a corruption probe of concession for Africa's richest iron ore field.

The Pilbara and Yilgarn Cratons regions were once a small continent, about the size of Japan.

Chinese investment in railroads, buildings and other infrastructure will rise 20% this year, requiring 200 million tonnes of iron ore.