First ore from the Iron Ridge mine, in Western Australia, has departed from the Port of Geraldton, with the next export vessel scheduled to arrive in late February.

Diversified miner Anglo American reports that its subsidiary Anglo American Platinum's (Amplats') Unki mine, in Zimbabwe, has achieved an Initiative for Responsible Mining Assurance (IRMA) 75 rating.

In addition, high profits have greatly stimulated the capacity expansion of overseas mines, and the supply of iron ore continues to increase.

Brazilian mining firm Vale said it expects to achieve iron ore production capacity of 350mn t/yr this year, up by 8.7pc from a year earlier.

Baowu produced 96mn t of steel in 2019 to overtake Luxembourg-based ArcelorMittal, which produced 89.8mn t, as the world's largest steelmaker.

According to the Wuhan Shipping Exchange, the ships overstocking in some ports continued this week.

Bahia Mining Company begins production of iron ore in Pedra de Ferro

The first shipment of iron ore from Sierra Leone's New Tonkolili Iron Ore Project set sail for China from the country's Pepel Port on Friday.