BHP Secures Iron Ore Deal With China, Rio Tinto Boosts Copper Bets
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Good morning from Melbourne. US President Donald Trump has extended the ceasefire with Iran, but with talks still up in the air, the conflict is still rippling across the global economy. In a sign of how quickly security priorities are shifting, Australia is stepping up spending on anti-drone defense technology.
In company news, BHP says it has clinched a long-term iron ore supply deal with China after months of disruption, while Rio Tinto got a lift after reporting a 9% jump in first-quarter copper production - Richard Henderson, Australian Finance Reporter
BHP Group said it has secured a long-term supply agreement with China’s state-backed iron ore buyer, renewing access to its largest market after around seven months of disruption.