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Sinosteel Signs Iron Ore Deal with Cameroon

Exterior of the Sinosteel headquarters in Beijing, China. Image CC BY-SA 4.0.

The Chinese state-owned steelmaker Sinosteel signed a $690 million deal to mine iron ore at southern Cameroon’s Lobe Mine. The deal is part of China’s ongoing attempts to lessen its dependence on Australian iron ore, as it also diversifies its sourcing away from other major suppliers, like Brazil. 

Read the full article on the Bloomberg News website

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