Column: China, decarbonization present Australia’s iron ore miners with costly choices

The surcharges mirror a plan from the rare earths industry as Beijing exerts control of the critical minerals market.

To improve the power supply, CMOC has been looking to tap hydropower projects and other new energy sources.

The LME has drawn fire from all sides since a massive nickel short squeeze caused prices to quadruple in a few days in March 2022.

The US bank is expanding its footprint in metals after it agreed a similar zinc deal in August.

While there is a need for 200,000 tonnes of graphite to meet demand, the reality is, the current US supply capability is zero.

President Xi Jinping urged the authorities to ensure more safety measures are put in place to avoid such incidents.

Deals were signed in areas such as new energy equipment manufacturing, metal material production and financial services.

Codelco chairman has said the company is reassessing the costs of upgrades to the life of its mines.

“We are not very optimistic about copper prices,” said the head of copper trading at Shanghai Wooray Metals.