Mineral Resources (MinRes)’ transformational Onslow Iron project (formerly known as the Ashburton project) in Western Australia has commenced early works to support first ore on ship around December 2023.

Barrick’s Mali trebling solar as renewables stave off high energy prices at Kibali

Steel, magnesium and its products, and coal are among the major exported commodities.

They also said the industry will likely experience demand recovery to a certain extent in the coming months.

Hydrogen can only be generated by consuming primary energy such as coal, natural gas and renewable energy.

But to cut pollution, China has reduced steel production, leading to the closure of many plants.

BMW and HBIS will also jointly carry out research and development of carbon capture.

Sun Guolong, general manager of Baogang Group, said carbon capture utilization and storage will play a critical and evolving role in China's energy transition.