Mr Wang said China would still need to import more than half of its iron ore by 2020 and development of Chinese-owned mines was crucial in breaking the supply stranglehold enjoyed by three big miners: BHP Billiton, Rio Tinto and Vale.
He said the government would offer more support to companies investing in iron ore assets abroad. ____________________________________________________________
Can only be a good sign.
DMA Price at posting:
8.2¢ Sentiment: LT Buy Disclosure: Held
