China seeking alternative Australian sources of iron ore

0 Comments | AFP, March, 2006

SYDNEY (AFP) — A junior Australian iron ore producer is in talks to sell its output to a major steel firm in China, which has accused mining giants BHP Billiton and Rio Tinto of using monopolistic behavior to hike ore prices.

Gindalbie Metals said it was in discussions with China's fourth largest steel company, Anshan Iron and Steel Group, about supplying iron ore from its proposed Karara project in Western Australia's Mid-West region.

However, the iron ore project developer said discussions were incomplete and no agreement had been concluded.

Its statement coincided with a report in The Sydney Morning Herald Monday that another miner, Cape Lambert Iron Ore, was expected to release details of an agreement with a top-three Chinese steel maker on Tuesday....