The country’s ultimate objective is to have its own space mining agency by the end of the year.
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Prices have climbed almost 7% since Monday and almost 32% since the recent low of $53.36 a tonne hit on June 13.
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From the recent low of $53.36 a tonne hit on June 13, iron ore prices have now surged more than 27%.
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Met coal hits 2-month high Friday as Chinese imports of steelmaking coal from totalitarian state drops 75% during first half of the year.
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The bill, approved by a vast majority, defines the conditions companies must fulfill to get a licence for launching a space mining mission.
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Ore with 62% content in Qingdao added $1.86 overnight to close at $65.91, the highest since May 3 and 20% more than those year lows hit mid-June
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Beijing’s shuts 120 million tonnes of low-grade steel capacity in six months providing a boost for high-quality ore exporters.
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Study shows Q2 2017 new private capital for natural resources investment dropped to lowest since 2011 and not a single mining fund were able to raise money.
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Combined worth of 50 largest mining companies grow to $768 billion during first half of 2017, but a few big names drop down rankings.
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China’s supply of steel scrap is surging as aged buildings, bridges and cars produced over decades of rapid economic growth are knocked down, dismantled or crushed.
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