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Iron-ore futures wobbled on Friday and were on track for weekly losses due to waning optimism over prospects for demand recovery in top steel producer and metals consumer China, with additional pressure from rebounding supplies from Australia and Brazil.

"We expect more cooperation with China in the years to come to facilitate its accelerated energy transition, continued economic development and improvement in living standards."

Iron ore exploration and development company Equatorial Resources (ASX:EQX) has entered into a conditional agreement with privately owned company Companhia Rio de Ferro to acquire the Nimba Alliance Iron Ore Project in Guinea, West Africa.

Its iron ore sales fell by 5.7pc to 38.25mn t during the same period.

The company's saleable iron ore production remained flat against the previous year at 5.4mn t during 2022-23.

THE Western Australian government has announced a A$40 million investment to accelerate critical minerals discoveries

Australian mining giant BHP Group said on Monday that it has signed an agreement for piloting of carbon capture and utilization technology with China's HBIS Group Co Ltd.

In the first two months, Guangdong's import and export with Brazil and Chile increased by 24.8 percent and 14.4 percent, respectively, it said.