The memorandum of understanding includes exploring deployment of green ammonia-fueled vessels to transport iron ore in the China-Australia iron ore corridor.
One of the standout commodity stories so far this year has been China's demand for thermal coal, with the world's largest importer seeing record shipments.
Ottawa cracked down on mining deals involving foreign state-owned entities in 2022 in a move widely seen as targeting China’s influence in the global critical minerals supply chain.