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In September Chinalco took private its Hong Kong listed mining arm, primarily focused on copper. China consumes more than 70% of the world's seaborne iron ore and is on track to import one billion tonnes of the steelmaking raw material this year. Imports have gradually displaced domestic production, pushing dozens of Chinese iron ore mines …

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Three years ago, Robert Friedland, executive chairman and founder of Ivanhoe Mines, told the Hong Kong Mines and Money conference: "Hong Kong will become the largest mining finance market in the world."