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China’s Giant Iron Ore Buyer Starts Supply Talks With Top Miners
China Mineral Resources Group Co., the buying agency set up to increase Beijing’s clout in iron ore, is in negotiations with Rio Tinto Group and other leading miners over next year’s supply, according to people familiar with the matter. In the talks with the world’s four largest suppliers — which also include BHP Group Ltd., Vale SA and Fortescue Metals Group Ltd. — the group is seeking preferential terms on transport, grades and delivery arrangements, the people said. They asked not to be named as the conversations are not public. China imports three-quarters of the world’s iron ore to feed its mammoth ... (full story)