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The joint research center has already delivered great insights into the outlook of Rio Tinto's largest market.

UK-Australian iron ore mining firm BHP has signed an agreement with Chinese steelmaker China Baowu to invest up to $35mn in jointly seeking technical solutions to reduce carbon emissions in steelmaking.

Hancock's Atlas Iron subsidiary will assist in extending the life of Roy Hill and has been cash positive at recent iron ore prices, the company said.

Australia's iron ore exports rose in September from a year earlier and were 3.9pc up for January-September.

Gharibpour called for cooperation with the Australian side in various areas including training, exploration, extraction, and new technologies, IRIB reported.

Anglo American Chief Executive Mark Cutifani said "Anglo American has continued its strong operational recovery, with a 24% increase in production compared to Q2.

Fenix Resources (ASX:FEX) now has sales agreements covering all of its iron ore production from the Iron Ridge project in Western Australia after reaching a binding offtake agreement with Chinese heavyweight Sinosteel.

In the same period, imports of soybeans rose 15.5 percent, pork imports grew by 132.2 percent and beef imports increased 38.8 percent.