Australian Prime Minister Anthony Albanese called on China to allow free imports of Australian iron ore following reports Wednesday that a state-owned Chinese iron ore buyer advised steelmakers and traders to temporarily suspend purchases from global mining giant BHP, the Associated Press reported.
According to media reports, China Mineral Resources Group’s actions against the world’s largest Melbourne-based miner have delayed contract negotiations.
“I want Australian iron ore to be able to export to China without restrictions. This is important. It makes a significant contribution to the economies of both China and Australia,” Albanese told reporters. “These measures are always disappointing. But, of course, hopefully they will be short-term.” “Sometimes these things happen when people negotiate prices. But I want this to be resolved quickly.”
This week, China Mineral Resources Group Inc. asked local buyers to cease all dollar-denominated purchases of seaborne cargo from BHP, Bloomberg reported, citing sources familiar with the matter.