They will also cooperate in bonded-area operations and trade and jointly build an iron ore blending and distribution center in northeast Asia, according to the MOU.

Rio Tinto is seeking a new head of iron ore after it announced on Sept. 11 that Chris Salisbury will stand down at the end of this year.

The settlements for BF-grade pellet premiums are nearly flat with the previous quarter and lower by around $3/dmt for DR-grade pellets.

[Ferro-Alloys.com] Australia's exports of goods to China fell by more than 26% in August, sparking fears of deteriorating relations between the two countries.

Australia’s goods exports to China fell by more than 26 per cent in August.

The settlements for BF-grade pellet premiums are nearly flat with the previous quarter and lower by around $3/dmt for DR-grade pellets.

During the quarter under review, the company's expenses stood at INR 1,250 crore, as against INR 1,474 crore in the same period previous fiscal.

China imported a record 112.65 million metric tons of iron ore in July, up 24 percent on a yearly basis, said CNBC.