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Chinese steel industry policies to boost iron-ore demand – Rio Tinto CEO

Rio Tinto CEO Jean-Sébastien Jacques is confident China will continue to drive demand for mining products and iron-ore in particular, despite introducing new policies that will make environmental permits for steel mills harder to obtain and slow capacity. The country plans to eliminate 100-million to 150-million tonnes of steel capacity to reduce the number of polluting steel furnaces and become more consumption-focused.