Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

China intends to build a few large iron ore mines in other countries by 2025 to ensure the supply of raw material and give price leverage to its steel industry.


China currently imports 80pc of its iron ore supply. According to media reports, the Chinese Ministry of Industry and Information Technology said that it will focus on quickening the development of mines in West Africa and Western Australia. Notably, China already operates Blocks 1 and 2 of the 2bn mt Simandou iron ore project in Guinea through a Singaporean subsidiary Winning Shipping. 


The country also intends to form large steel groups by speeding up domestic mergers and acquisitions. The Asian nation plans to curb overcapacity and focus on low-carbon production in 2021. 

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