The China Mining Association (CMA) has submitted proposals to China's State Council for a long-term solution to the rapid price increases in iron ore imports, CMA vice chairman Wang Jiahua has stated.
According to Mr. Wang, the CMA has suggested that taxes on domestic mining companies should be cut to some extent, so as to reduce the exploring costs for domestic iron ore. The CMA also suggested that China should limit and reduce disqualified steel capacities, expand import sources of iron ore and develop the exploration of Chinese domestic iron ore mines.