Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
China is drawing up plans to subsidise its struggling iron ore sector, official media reported on Wednesday, with many high-cost mines forced to shut as a result of a collapse in global prices. China, the world's biggest steel producer, has long been worried by its growing dependence on foreign miners and has tried to maintain a level of self-sufficiency in the key raw material, but its mines have been unable to compete with massive low-cost producers in Australia and Brazil.
China is drawing up plans to subsidise its struggling iron ore sector, official media reported on Wednesday, with many high-cost mines forced to shut as a result of a collapse in global prices. China, the world's biggest steel producer, has long been worried by its growing dependence on foreign miners and has tried to maintain a level of self-sufficiency in the key raw material, but its mines have been unable to compete with massive low-cost producers in Australia and Brazil.
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