Global iron ore shipments increased 3.8% Y/Y, according to BIMCO
NewsGlobal iron ore shipments rose in Q1 2024 but with Chinese steel production weaker than expected, future shipments may decline due to oversupply.
Fortescue Metals has signed a final agreement with the government of Gabon to allow mining on the Belinga iron ore reserves to begin in the second half of 2023. Initial production of 2 Mt is expected in phase one, while a study on large-scale development is completed.
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