Shanxi Donghui Energy Group bought the mine from Ivanhoe Australia in 2013.

Higher domestic supply also weighed on the key steelmaking ingredient.

China’s appetite for iron ore has picked up in recent months.

All 33 members with operating gold mines will publish the names and locations of their refining partners at least once a year.

Buyers lack conviction and the view from the factory floor remains cautious as margins are suppressed and profits wither.

The company has so far spent more than $500 million on developing the project.

Company is aiming to replace exclusively copper concentrate deals with others that include concentrate and value-added intermediate products such as blister and anode.

Coal mine accidents killed more than 60 people this year.