The mining giant said it did not agree with the decision and would appeal within the next 10 days.

Many steel enterprises saw profits drop by up to 90% in Q2 of this year, amid plunging steel prices.

Iron ore’s most-traded January 2023 contract on China’s Dalian Commodity Exchange tumbled as much as 4.4% to 683.50 yuan ($100.87) a tonne, its lowest since July 28.

Steel producer Hoa Phat Group has signed a contract to export 8,000 tonnes of rebar to Mexico, its first order from the North American country.

BlueScope has set a goal of net-zero GHG emissions by 2050.

Vietnam's ferrous scrap imports in July fell to their second-lowest monthly level this year, as demand was dented by subdued production and weaker trading activity.

The firm will invest 575bn rupees [$7.23bn] in the two projects that have received high-level clearance approval from the Odisha government.

The LCRC said that since the railway's opening, it has been actively enhancing the transportation organization, optimizing the freight service, and effectively ensuring efficient and smooth transportation.