China's talks with BHP Billiton, Rio Tinto and Vale were clouded this year by Rio Tinto's rejection of a deal with Chinese aluminum firm Chinalco and the country's detention of four Rio Tinto employees accused of stealing State secrets. Full coverage
Chinese negotiators have backed down from a demand for a 45 percent cut in iron ore prices, settling for a 35 percent reduction from Australia's Fortescue Metals Group Ltd (FMG) and asking for the same deal with SA Vale, Billiton BHP Ltd and Rio Tinto Group.