China Acquires 5.7 Billion Tons Of Iron Ore Project In Africa | HUGE THREAT To The Australia!

#china #chinanews #africa #australia #cameroon #mine #project For a long time, China has been the world’s major consumer of iron ore, with annual demand as high as 1.5 billion tons. But since the annual production limit is about 800 million tons, China must import about 700 million tons of iron ore to meet its huge demand. In the past, Australia, as one of the major suppliers, has always played an important role in iron ore exports to China. However, as Sino-US relations have become tense in recent years, Australia has followed the United States in imposing a series of sanctions against China, which has caused problems in the cooperative relationship between the two parties. The price of iron ore has soared from US$70 per ton in 2021 to the current level of $120. Faced with this challenge, China began to seek to reduce its dependence on Australian iron ore and search for new iron ore supply sources around the world. Now, China has once again undertaken a large-scale ore project in Africa, with reserves of up to 5.7 billion tons. According to predictions, this project will allow China to no longer worry about iron ore supply in the next 10 years and reduce its dependence on Australia.