China Mineral Resources Group (CMRG) secured a multi-year iron ore supply contract with mining giant Anglo American. First reported on August 14, 2026, the agreement makes the state-backed CMRG the exclusive sales agent in China for a portion of iron ore from the Kumba unit in South Africa.
The contract covers approximately 10 million metric tons of the steelmaking ingredient. This deal reportedly began in April 2026 and runs through March 2027.
China is currently the world's dominant iron ore consumer. This move centralizes purchasing to increase the nation's pricing power in the global market.