BHP was founded in 2001 through the merger of BHP (Broken Hill Proprietary) and Billiton. Founded as two small mining companies in the mid-19th century, it has grown into a leading global integrated resources company. It is a renowned multinational corporation primarily focused on oil and mineral resources. BHP Billiton is currently divided into three business units: Minerals Australia and Minerals Americas, each geographically distinct, and Petroleum. Mineral resources mined include iron ore, coal, nickel, copper, lead, silver, molybdenum, uranium, zinc, and gold . The company's major mining projects include iron ore in Brazil and Australia , copper mines in Peru, Australia, and Chile, potash projects in Canada, and coal mines in Australia, the United States, and Colombia. The company also explores, produces, and sells oil and gas in the Gulf of Mexico, Trinidad and Tobago, Algeria, the United States, and the United Kingdom. BHP Billiton is headquartered in Melbourne, Victoria, Australia. According to the company's financial report, BHP Group's operations are divided into five business units: oil, copper, iron ore, coal , and group and other businesses. BHP Billiton's iron ore business is second only to Rio Tinto iron ore production in Australia, making it the second-largest iron ore producer in Australia and the third-largest in the world .

Fortescue Metals Group Ltd. FMG was founded in 2003 by Australian Andrew Forrest through the acquisition and renaming of ASX-listed Allied Mining & Processing. FMG is a global leader in the iron ore industry, boasting a unique corporate culture and technological innovation. It has developed world-class infrastructure and mining assets in the Pilbara region of Western Australia, a prime iron ore producing region. It is Australia's third-largest iron ore producer and the fourth-largest globally , after Rio Tinto and BHP Billiton . Compared to the diversified portfolios of Rio Tinto, BHP Billiton, and Vale, FMG focuses exclusively on iron ore .

[Domestic Iron Ore Brief: Iron Ore Concentrates Prices in East Liaoning May Fluctuate at Highs] Today, the domestic ore market in East Liaoning remained mostly stable, with slight price increases in some areas. Local mine operations continued at low levels, compounded by consecutive rainy days over the past two days, further tightening ore supply. Consequently, beneficiation plants strengthened their high-price stance. With low inventory and high purchase costs, traders temporarily refrained from offering quantities.

According to the SMM survey, on August 27, the blast furnace operating rate of the 242 surveyed steel mills stood at 86.14%, down 0.13 percentage points WoW.

[Domestic Iron Ore Brief: Tangshan Area Iron Ore Concentrates Prices May Edge Up Slightly] Market prices for domestic ore in the Tangshan area have been relatively stable, with 66 grade iron ore concentrates dry basis including tax at a delivery-to-factory price of 980-990 yuan/mt. As most local mines are currently shut down, producers are not engaging in significant transactions, and some are maintaining high asking prices without urgency to sell; steel mills are mainly purchasing as needed.

[Domestic Iron Ore Brief: Iron ore concentrates prices in west Liaoning may continue to fluctuate] The domestic ore market in west Liaoning is relatively sluggish. Currently, the ex-factory price of 66-grade iron ore concentrates on a wet basis without tax is 720-730 yuan/mt. Traders are cautious, and mines and beneficiation plants as a whole are holding firm on their asking prices, unwilling to sell at lower prices, leading to a slight standoff between buyers and sellers. On the demand side, steel mills are mostly operating according to plan with no maintenance plans.