In Gansu's Wuwei city, a 500,000 mu (33,333 hectares) photovoltaic power base is under construction, with a total installed capacity of 15 million kilowatts.

Australian resources firm BHP and Japanese trading house Mitsubishi plan to sell the 12mn t/yr Blackwater and 2.5mn t/yr Daunia mines from their BHP Mitsubishi Alliance (BMA) joint venture in Queensland.

Integrated steelmaker US Steel today has joined two of its competitors with increasing its flat steel prices by $100/short ton (st).

Brazilian iron-ore miner Vale SA's profit fell in the fourth quarter after the price of iron ore and sales by volume both declined.

Russia plans to post a budget deficit in 2023 of 2% of gross domestic product (GDP), Finance Minister Anton Siluanov said on Friday, despite towering spending and slumping energy revenues contributing to a huge shortfall in January.

Shu Jueting, a ministry spokeswoman, said the two sides discussed trade and investment issues and exchanged views on the further expansion of cooperation in emerging areas.

In particular, the central and western regions are forecast to better receive foreign investment relocated from labor-intensive industries in coastal areas where labor costs have increased, they said.

The wind power and photovoltaic projects are located in Shenyang, Dalian, Dandong, Yingkou and Chaoyang cities.