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...China’s investment in the sector includes nickel, lithium and copper projects as well as uranium, steel and iron, highlighting intensifying efforts by Chinese companies across the clean technology supply...
...China’s love affair with property may be ending but no one seems to have told iron ore traders. Imports of the transitional metal used for construction steel rose in 2023 compared to the previous year....
...Now iron ore prices are plunging, down over tenth since mid February and by nearly a fifth this year....
...Metals prices have since retreated from those record levels. It trimmed its dividend for 2023 to $4.35 per share, down 12 per cent from the previous year....
...The International Energy Agency said there would need to be a big increase in the production of metals such as copper, lithium and iron ore in the coming years for the world to achieve net zero emissions...
...For Baatar, the complex partnership structure at Simandou provides a template for a “new era in co-development” that will be necessary to source the vast volumes of metal required to build the green economy...
...Indeed, the group’s share price has risen by 30 per cent since the 12-month low point in mid-August, which is perhaps surprising given the outlook for industrial metals....
...But prices of iron ore, of which China is by far the biggest buyer, have jumped at the same time....
...Ensuring Tata and British Steel can source the high-quality scrap they need will certainly require a major effort to collect and separate scrap metal more effectively....
...Indeed, Rio Tinto — overwhelmingly making money in the age-old mining business of shovelling iron ore from Australia to China — has fared better than its more battery metals-focused peers....
...This week, the group announced almost 4,200 jobs would be under threat at its South African platinum group metals and iron ore mines, as it seeks to cut costs....
...Iron ore bulls are thin on the ground these days — as are those willing to dig into large iron ore miners such as Rio Tinto....
...If Chinese metals demand falters, so will BHP’s dividend....
...Yet the festivities masked divisions within the mining company, which operates both as an iron ore miner and a pioneer of green hydrogen investment....
...Now Australia’s richest person has set her sights on lithium, a crucial metal in electric car batteries that will be crucial to the race to cut global emissions....
...Australia’s Wyloo Metals is shutting down nickel mines in Western Australia, while BHP has said it is considering the closure of some nickel operations....
...Meanwhile, demand has been hit by the slowdown in the growth of electric vehicles, as well as the rising penetration of lithium-iron-phosphate (LFP) batteries, which do not use cobalt and have taken off...
...As more metal reaches the end of its useful life, that will grow....
...Gina Rinehart made her billions from heavy metals. Australia’s richest person seeks one of the lightest, lithium....
...Previous observations, including from a flying stratospheric telescope mounted on a Boeing-747, suggest Psyche is rich in iron....
...Forrest, an iron ore billionaire who has long-held ambitions in nickel, shut down mines in Western Australia in January due to a sharp drop in the nickel price, partly driven by supply from Indonesia....
...Australia’s nickel industry is confronting a crisis with a number of companies suspending operations due to a collapse in the metal’s price driven by a supply glut from Indonesia....
...“I want to supply green hydrogen, green metals, green iron, green technology, green everything....
...Naylor-Leyland says: “While mining equities in gold and silver have been struggling throughout my career, copper and iron ore miners generally are very robust and pay good dividends.”...
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