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Chinese officials have reversed prior restrictions, allowing local plants to once again bid for certain BHP iron ore cargoes priced in U.S. dollars.
China has lifted restrictions on local plants bidding for BHP iron ore cargoes in U.S. dollars.
KEY POINTS
- The China Mineral Resources Group had previously banned purchases of BHP's Jimblebar fines last year.
- The policy reversal followed incoming BHP CEO Brandon Craig's meetings with major Chinese industry leaders.
- Brandon Craig also discussed expanded cooperation with Chinalco's chairman during his Beijing visit.
COMPANIES
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