Technological breakthroughs, international cooperation, and efficient resource utilization are leading the global iron ore industry's high-quality transformation.

Against the backdrop of the "dual carbon" goals becoming a global consensus and increasingly fierce competition in the international supply chain, the iron ore industry is undergoing a critical transition from scale expansion to quality improvement, and from high-carbon production to low-carbon operations. As a core raw material supporting global infrastructure and manufacturing, the transformation of the iron ore industry not only concerns resource security but also profoundly impacts the global low-carbon development process. my country is leveraging technological innovation and international cooperation to propel the industry toward a new stage of high-quality development.

Technological breakthroughs are the core driving force behind the low-carbon transformation of the iron ore industry. In China's mining sector, the application of intelligent exploration technology has increased the efficiency of low-grade iron ore resource discovery by 40%, effectively expanding resource supply. Breakthroughs in efficient mineral processing technologies, such as combined magnetic separation and reverse flotation technology, have stabilized the grade of iron ore concentrate at above 92%, reduced energy consumption per ton of iron ore concentrate produced by 25%, and significantly reduced carbon emissions at the front end of steel production. At the same time, new breakthroughs have been achieved in tailings comprehensive utilization technology. Mines in Hebei, Liaoning, and other regions are turning tailings into new building materials, disposing of over 10 million tons of tailings annually, driving the industry's shift from a resource-intensive to a recycling-based one. Internationally, global iron ore giants are accelerating their development of low-carbon mines. Australia's BHP Billiton has launched its "Green Mine Plan," aiming to reduce its mine carbon emissions by 50% by 2030 compared to 2020 levels through the use of photovoltaic power supply and electric mining equipment, setting a low-carbon benchmark for the global industry.

International cooperation and efficient resource allocation have become key measures to optimize the iron ore supply chain. my country is actively deepening iron ore cooperation with countries along the Belt and Road Initiative. In Mongolia, cross-border railway capacity expansion and renovation are being promoted, increasing the efficiency of iron ore transportation to China by 30%. In Guinea, West Africa, an iron ore project co-developed by Chinese companies is incorporating advanced Chinese mining technology. Upon commissioning in 2026, the project is expected to have an annual production capacity of 12 million tons, providing a new and stable source of supply for my country. At the same time, my country has deepened its cooperation with traditional suppliers such as Brazil and Australia, establishing iron ore price linkage mechanisms and long-term supply agreements. In the first half of 2024, long-term agreements accounted for 65% of my country's iron ore imports, effectively stabilizing spot market price fluctuations. Furthermore, my country is promoting the establishment of a global iron ore industry exchange platform to promote technology sharing and mutual recognition of standards, helping to move the global supply chain towards a more stable, efficient, and low-carbon future.

Faced with new trends in global industrial transformation, the iron ore industry faces multiple challenges. On the one hand, global energy price fluctuations have increased mining and transportation costs, putting some small and medium-sized mines under operational pressure. On the other hand, divergent low-carbon policies across countries have led to inconsistent industry standards, complicating international cooperation. To address this, my country needs to further increase its investment in technological research and development to overcome key technical bottlenecks in low-carbon mining. Furthermore, China should actively participate in the formulation of global iron ore industry rules, promote the formation of unified low-carbon standards and trade norms, and proactively lead global industrial transformation, providing solid support for the high-quality development of China's manufacturing industry and the achievement of global low-carbon goals. In the future, with the continued advancement of technological innovation and deepening international cooperation, the iron ore industry will gradually establish a new development model characterized by low carbon, high efficiency, safety, and circularity. This will not only provide a stable supply of raw materials for the global manufacturing industry, but will also become a key force in promoting the global low-carbon transition and contribute to the building of a community with a shared future for mankind.