Ports in China’s Shandong and Fujian provinces will soon open four new berths that will be able to accommodate the super-large bulk vessels known as “Chinamax.” This new port capability combined with these massive bulk carriers is prompting some analysts to focus more attention on the vast iron ore reserves that are now available from the Simandou mine in Guinea.
After years of legal disputes, Chinese state-owned companies, together with the Australian mining giant Rio Tinto, have finally started operations at the Simandou mine, believed to be one of the world’s richest reserves of iron ore.
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