West Africa a fly in BHP's iron-ore ointment

As of Feb. 9, the price of primary iron ore contracts had risen by 14.85 percent this year, according to China Securities Journal.

Coal producers also should step up efforts to ensure coal supplies, the meeting said.

Coal still plays an important role in the country's energy supply and should not be denied completely, he added.

Cleveland-Cliffs’ Slowing Demand Adds to Steel Industry Woes

Giant miners to see record profits slip as cost pressures bite

Rising coal prices in China are likely to ease gradually after the winter heating season concludes.

Indonesia is seeking 8.58 billion U.S. dollars in investment to shut down a number of coal-fired power plants as the country is currently expediting the transition into green energy.