With an investment of US$32mn, Chilean iron ore miner Minera del Pacífico (CMP) looks to continue operating in the Pleito district until 2029, which the CAP group firm holds in northern Atacama region.

The daily Argus ICX 62pc iron ore index was at $117.35/dry metric tonne on 3 January, down by 2.2pc from a year earlier.

India's largest iron ore producer NMDC has raised its iron ore prices for January, the second straight month of increase.

Investment and opening-up highlight companies' trust in cooperation and development.

Bonluck Bus is the first Chinese bus manufacturer to enter the Australian market.

Australia's marginal iron ore mining firms are preparing to restart operations in 2023, but realising stronger demand could add to the highly inflationary cost environment.

UK-South African mining firm Anglo American has lowered its iron ore production guidance for 2022, 2023 and 2024.

China is the world's largest importer of iron ore, with imports exceeding 917 million tons in the first 10 months of 2022.