Australia's iron ore exports have surged to a record high despite a series of trade sanctions and threats from China. Iron ore exports last month hit a record high of $10.9billion, the Australian Bureau of Statistics revealed on Tuesday. Australia's iron ore exports have surged to a record high despite a series of trade sanctions and threats from China. Brazil's iron ore exporting capacity has been diminished since the Vale tailings dam collapse in January last year. The Simandou mine at Guinea in west Africa also isn't yet producing iron ore, making Western Australia's Pilbara region the key source of iron ore bound for China.

Source: Daily Mail November 24, 2020 03:13 UTC