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Sinosteel to buy iron ore from Brokeman

Sinosteel to buy iron ore from Brokeman

Write: Hermia [2011-05-20]

Sinosteel has signed an agreement to buy 10 million tons per year of iron ore from Australia's Brokeman over the next five years. The total value, when calculated at today's spot market, would top A$6.5 billion. The contract volume accounts for half the company's total output.