Iron ore has made substantial price gains recently but are market fundamentals robust enough to keep the commodity from slipping into reverse?
The Brazilian steelmaker is seeking to overturn a shareholder veto of a capital reduction at its mining arm, Mineração Usiminas.
First Quantum Minerals president Clive Newall says the US$5.48bn copper-gold project will enter production at an opportune time in the copper market, with strong fundamentals underpinning rising prices.
In 2014, the Brazilian miner launched an iron ore distribution center in Malaysia, bringing it closer to its customers in Asia.
Aluminum industry association Abal and the development and foreign trade ministry to work together to help make the sector more competitive, sustainable and resilient.
Spot prices ended the day's trading just 0.02% lower at US$6,015/t (US$2.728/lb) on the London Metal Exchange.
The agency says a key factor behind its decision is the stainless steel manufacturer's large market share in Brazil.