China's resilient supply chains have given multinational companies strong confidence to deepen their market development amid the improved business environment in the country in recent years, a top executive of Rio Tinto said.

The expedited development option will have average ore grades of 29.1% iron over the five years.

An analyst said mining companies have been stepping up investment and local cooperation in China for more green opportunities in recent years.

Iron-ore futures in Singapore touched $130 a ton for the first time since March on improving demand for steel in China, which is considering a new wave of stimulus to shore up the struggling property sector

Vale (NYSE: VALE) will divest 14% of its stake in Indonesian nickel unit to fulfill the country’s divestment rules, mining minister Arifin Tasrif told reporters on Friday.

Iron ore has reached “unreasonable” levels that are hurting Chinese steel mills, according to China Mineral Resources Group, the state-backed firm trying to boost Beijing’s sway over prices.

In August this year, Brazilian miner Vale's iron ore export volume totaled 23.54 million mt, rising by 3.9 percent

The iron ore price rose on Wednesday, as positive signals from China’s latest financial meeting boosted market sentiment.