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A UK court ruled on November 14 that Australian mining giant BHP Group Limited should be held responsible for severe environmental pollution caused by the 2015 tailings dam collapse in Brazil. BHP stated that the company had reached a compensation agreement with the Brazilian government regarding the incident last year, and the lawsuit in the UK was unnecessary; the company will appeal. (Xinhua News Agency)
The world-class iron ore Ximangdu project officially commenced production on November 11, with reserves exceeding 4.4 billion tons and an iron grade of 65%. The project is led by Chinese enterprises, with deep participation from China Aluminum Group and China Baowu Steel Group. The commencement of production will break the monopoly of the three giants: Rio Tinto, BHP, and Vale SA. Analysts point out that "China has never had such a level of pricing power for seaborne iron ore."