China-Australia relations: breaking free of dependency on Australian iron ore would take years, but where is China looking?

Brazilian port operator Grao Para Multimodal’s executive director, Paulo Salvador, knows there is plenty of untapped high-grade iron ore in northern Brazil, but a mix of bureaucracy and limited capital have stymied efforts to begin production for years.

Across the states of Para, Piaui and Tocantins, there are at least three mines amounting to nearly 10 billion tonnes of iron ore reserves ready for production, but they continue to sit idle, he said, adding that those deposits are only the tip of the iron ore iceberg in Brazil.