CHARTS: The coming critical minerals trade war is BRICS short of a load
"While a large number of countries around the world continue to talk about securing raw material supply, China is actually doing something about it."
BEIJING – China Minmetals Corp will buy 2.04 million tonnes of iron ore from Australian miner Rio Tinto Ltd in 2019, the company said in a filing to the Shanghai Stock Exchange on Monday.
Minmetals will purchase Pilbara Blend lump ore that will delivered through 12 cargoes and priced at around 999.6 million yuan ($144.94 million), said Minmetals, adding actual prices will be adjusted in accordance to the market each month.
($1 = 6.8967 Chinese yuan renminbi)
(By Muyu Xu and Ryan Woo; Editing by Christian Schmollinger)
