The Top Three Mining Giants to Join the China Spot Iron Ore Trading Platform
Source: Portal Website of the Ministry of Land and Resources Citation: China Land and Resources News Data: March 29, 2012
In recent days, relevant leading official at China Iron and Steel Association (CISA) stated that the top three mining giants - BHP Billiton, Rio Tinto and CVRD will join China Spot Iron Ore Trading Platform, which is scheduled to be put into trial operation on March 29 and start actual trade on May 9. The platform is for imported iron ore trade for now, excluding trade in iron ores produced in China. (By Zong He) (Previously, the world’s No. 4 mining company - Australia-based FMG already signed the market access agreement with China Beijing International Mining Exchange (CBMX), officially becoming a sponsor member of China Iron Ore Spot Trading Platform and the first overseas mining company to join the platform. The platform was jointly launched on January 16 by CISA, CCCMC and CBMX in Beijing. It will be helpful for China to secure a say on pricing in iron ore international trade.)
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