The market has played a role in encouraging more action from enterprises to reduce emissions, the report showed.

"Fortescue has been investing heavily in technology and building genuine and trusting friendships with our Chinese partners, underpinning the success and longevity of what has been a mutually beneficial partnership," he said.

Guinea’s giant Simandou iron-ore project, which is expected to start exports in two years’ time, is set to contribute to the world’s decarbonisation efforts, according to Rio Tinto.

Diversified miner Rio Tinto and Aymium have formed a new joint venture (JV) named Évolys Québec to manufacture a renewable metallurgical biocarbon product to reduce carbon emissions in large-scale industrial processes.

Australia-based iron ore miner Fenix Resources Limited has announced that it has completed a feasibility study for a new iron ore mine at the BeebynW11 deposit located in Western Australia.

Indonesia’s government is seeking to reduce Chinese participation in new nickel projects to help the industry qualify for US government subsidies, the Financial Times reported, citing a person familiar with the matter.

Europe-focused Metals One (AIM: MET1) announced Thursday that Kingsrose Mining (ASX: KRM), partner and operator of its Råna nickel-copper-cobalt project in Norway, has entered into a contract to begin core drilling at the Rånbogen prospect in August.

Weekly LME rebar futures trading volumes in the week to July 25 increased to 30,610 mt, up by 27,550 mt from 3,060 mt recorded July 18.