Chinese warn Australian miners on iron ore

SYDNEY, Sept 21, 2007 (AFP) - Chinese steelmakers Friday warned Australian mining companies against exploiting their position when iron ore price negotiations begin next month.

Australian miners have won a 189 percent increase in the price of iron ore since 2002 as they have worked to meet a surge in demand from Asia.

But the head of China's peak steelmaking association, Zhang Xiaogang, told the Australian Financial Review that mining companies such as BHP Billiton and Rio Tinto should not abuse their advantage.

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Ironworkers in 'record' Hong Kong strike

HONG KONG, Aug 26, 2007 (AFP) - Thousands of striking ironworkers and their supporters marched through Hong Kong on Sunday in what they said is now the longest-running industrial dispute in the territory for 30 years.

Around 600 workers marked their 19th day of strikes with a two kilometre (one mile) march through the city to protest poor pay and working conditions.

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Chinese steel maker forms joint venture with Kazakhstan miner

BEIJING, Aug 24, 2007 (AFP) - A major Chinese steel maker plans a joint venture with a Kazakh miner to explore iron ore overseas, state media said Friday, after China accused foreign suppliers of 'manipulating' the price.

Jiuquan Iron and Steel Group, one of the largest in China's northwest, will take a 51 percent stake in the joint venture, while International Mineral Resources BV will hold the remaining 49 percent, the China Daily reported.

No financial details was disclosed.

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Mauritania to sell iron to China

NOUAKCHOTT, Aug 20, 2007 (AFP) - Mauritania's state-run mining firm signed a seven-year pact Monday to sell 1.5 tonnes of iron ore annually to China, which has been rapidly extending its financial footprint in Africa.

The deal was signed by Wang Qingtang, vice-president of China Minmetals Corporation, and Mohamed Ali Ould Sidi Mohamed from the National Industrial and Mining Company (SNIM).

'The sale to the Chinese market represents about 21 percent of SNIM's actual production and 18 percent of its targeted output for 2010,' Ould Sidi Mohamed said.

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