article which shows they want sdl bad......, page-4

like i pointed out earlier china is trying to shift away its reliance on bhp and rio tinto.

Steel industry this week's highlights two dynamic self-sufficiency will be difficult for China to achieve iron ore, China is trying to get rid of Rio Tinto, CVRD and BHP Billiton three mining giants dependence.

First, the private sector in Sichuan Chinese dragon to be $ 1.9 billion acquisition of Australian mining companies Sundance Resources in all of the shares, but the acquisition plan was denied. Hanlon has held Sundance 19% of the shares. In this case, Sundance is clearly aware of China want more iron ore assets, which attempts to squeeze more money from China. Previously, Hanlon's Sundance previous day closing price over the purchase price premium of approximately 25%. The second news is that because of CITIC Pacific [16.76 -0.83%] Australian iron ore project progress has been disappointing, with serious cost overruns, the company's share price tumbled 9 percent earlier in the week.

These two sectors should be placed in the dynamic China is determined to get rid of the big three iron ore under the terms dependent on the background. Chinese steel companies each year to negotiate new supply contracts, the foreign dominance of all endless suffering to Beijing, the cost of iron ore has increased steadily. Of course, no one can guarantee that these new projects will be produced by iron ore prices lower than international market prices, especially given our recent transactions have seen cost overruns and premium. But China is such a thing will and the efforts, we only wait and see. If China's iron ore producers and steel enterprises end up having to pay a higher domestic production of iron ore price will eventually make it hurt.

Sentence: China hope to achieve at any cost iron ore self-sufficiency may be determined to iron ore and steel producers of a burden, but also gave the owner a chance to iron ore assets overseas.