January-October imports rose by 73.9pc from a year earlier to 17.71mn.

UK-Australian iron ore mining firm BHP has signed an agreement with Chinese steelmaker China Baowu to invest up to $35mn in jointly seeking technical solutions to reduce carbon emissions in steelmaking.

China's steel exports in October rose by 5.2pc from September to 4.04mn t as Chinese mills shifted supplies to overseas markets with falling domestic prices.

Hancock's Atlas Iron subsidiary will assist in extending the life of Roy Hill and has been cash positive at recent iron ore prices, the company said.

Australia's iron ore exports rose in September from a year earlier and were 3.9pc up for January-September.

Australia's iron ore exports rose in September from a year earlier and were 3.9pc up for January-September.

Of the $620 million worth of Iran’s constructional exports in the past Iranian calendar year (ended on March 19), just $1.5 million has been to Africa.

Gharibpour called for cooperation with the Australian side in various areas including training, exploration, extraction, and new technologies, IRIB reported.