JFE Steel sees slightly lower Q1 output than Q4

The sanctions package would allow European buyers to import Russian metal under a quota system for a one-year period.

Vale reported an output of 85.3 million metric tons in the three months ended in December.

Studies conducted over five decades and funded by the Chinese show the iron ore exporter also has uranium, lithium, cobalt, manganese and neodymium deposits.

The project has resources of around 1.7 million tonnes of rare earth oxides.