Minerals: Iron ore discovery in Tibet could help China's steel industry

This news is actually a couple of days old but I thought it may still be of interest.

The Metals Place, reports that three large iron ore deposits have been found in Tibet. This is significant because China has to import 90% of the iron ore it needs to produce 29% of the world's steel. This spring, China faced a 71.5% increase in iron ore price.

The deposits were found on the Qinghai-Tibet Plateau