penny dreadful miners - china wants to import 40% of its own I/O...

penny dreadful miners - china wants to import 40% of its own I/O by 2015 . What other deposits are available to be purchased other than Sundance concentrate deposits . Fmg expansion and Roy hill going ahead without chinese participation. $13B is going to be spent on these 2 projects even though they know the I/O price will fall to $90 by 2018.

By 2015 china will import 832mt from the current (2013 forecast) 773Mt . China wants to supply 40% of its owned foreign projects or J/V's by 2015 , thats 333MT . I think they currently import 150-180Mt of its owned foreign ore.


http://www.bree.gov.au/documents/publications/req/REQ_MAR2013.pdf


"Over the medium term, Chinese steel producers are expected to increase their reliance on imported ore due to declining ore grades of domestic ores, an increasing concentration of
steel mills on the eastern coast with easy access to ports and efforts being made to increase the average grade of steel produced in China (which requires higher grade ores, such as those from Australia and Brazil). Although projected to increase its reliance on imports, China aims to have around 40 per cent of its imports supplied by Chinese owned foreign projects by 2015.

From 2014 to 2018, China’s imports are projected to increase at an annual average rate of 5 per cent to reach 966 million tonnes in 2018, accounting for around 65 per cent of global imports ."