"It kind of disturbs me to know that there's a big Chinese interest there" Senator Lisa Murkowski said.

China is grappling with the worst resurgence of covid-19 cases since early 2020.

Iron ore production in Asia to peak by 2025, Fitch says.

The battery-making ingredient is about 500% more expensive than a year ago as demand for electric vehicles has accelerated.

The issue is that investments in additional iron ore capacity and upgrading have long lead times, writes Clyde Russell.

The rates are up 14.3% from $70 per tonne and seven cents a pound in the first quarter.

Fitch Ratings said the costs of iron ore and coal were likely to remain high in 2022.

Shenhua, which mines coal and burns it in power plants, plans to peak emissions by 2025 and achieve carbon neutrality by 2060.