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- The miner is the last of the world's top three iron ore producers, who control two thirds of the total seaborne iron ore trade, to dump the benchmark pricing.
- Voestalpine AG, Austria's largest steelmaker, may increase the amount of iron ore bought from the country's Erzberg mine and cut its dependence on foreign imports as the price of the raw material surges.
- Dow Jones reported that Indian-owned UK based Zamin Resources has one major iron ore project under way in Brazil and is keen on developing others in the country and neighboring Uruguay.
- Rio Tinto has followed rival mining firms and says it is negotiating new iron ore supply contracts priced for three months rather than a year.
- Negotiations with mills already signed up to pay quarterly -- most likely in Japan, South Korea and Taiwan -- over how much iron ore each will be allotted under the new pricing system were not yet concluded.
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