BHP has struck a deal with China’s powerful state-owned minerals buyer after months of intense talks that barred Chinese steel mills from purchasing some of its iron ore.
The Australian mining company said on Wednesday that talks with China Mineral Resources Group, the centralised purchasing agency that controls most of the country’s metals imports, had been “concluded” without providing more detail on the agreement.
Mike Henry, BHP’s outgoing chief executive, and Brandon Craig, who takes over in July, travelled to China this month to meet officials and steel industry partners.
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