China’s Iron Ore Diversification Could Hit Australian Economy

Workers unload steel at a steel products exchange market in Shanghai, China, on Apr. 6, 2005. China Photos/Getty Images

China’s plan to diversify iron ore supply could see Australia’s mining-dependent economy take a toll or force the nation to sell its abundant supply elsewhere.

The move comes amid a campaign of economic coercion by Beijing which has imposed trade sanctions on Australian coal, wine, barley, beef, lobster, timber, cotton, and potentially grapes.