Gemfields steps up efforts to tap Chinese market

The 70 million tonne-a-year project in the Pilbara is meant to replace other Yandicoogina’s areas that are running out of ore.

State-owned and private companies from the UK, Germany, India, Brazil, Singapore and Russia are among those to benefit from the seabed regulator’s decision.

BHP’s major vote of confidence in iron ore proves the company trusts it can mine the bulk commodity for less than many rival producers, and thrive even in an environment of weakening prices.

Anglo's unit Kumba plans to almost double production by 2030.

Few signs of stronger growth.

Las Bambas will be one of the world’s largest copper mines after it starts up in 2015, with annual output equivalent to more than twice the amount of copper MMG currently produces.

CEO Murilo Ferreira thinks the ore may get close to 2011’s peak of $168 a ton.

The world’s second-largest mining company’s produced 139.5 million metric tons of iron ore in the six months through June, while its shipments rose 20% to 142.4 million tons.

With the race on to develop non-Chinese REE sources, he suggests three projects likely to end up on the podium.