Chinese steelmakers are producing at record rates before mandated cuts in winter which could result in a steep drop-off in iron ore demand later this year.
The company has leveraged a strategic land position in China’s Ying high-grade silver-lead-zinc district, alongside an innovative approach to underground, narrow-vein mining, to emerge as one of the highest-margin miners in the silver space.
China agreed on Wednesday to loan Guinea $20 billion over almost 20 years in exchange for concessions on bauxite, an ore of aluminium which the West African country has in abundance, the mines minister said.
Rodrigo Duterte said ban should remain in place given the environmental damage it causes, but noted he would give companies time to find alternative mining methods.
Prices for iron ore and coking coal, the two key ingredients for steelmaking, are set to remain buoyant for the remainder of the year, Macquarie Bank predicted in a recent report.