Core Viewpoint - The mining giants showcased their transformation at the recently concluded China International Import Expo, highlighting a shift from traditional iron ore to new energy metals and low-carbon technologies, particularly copper, which is emerging as a key focus for several iron ore companies [1][2]. Group 1: Industry Trends - Major mining companies like Vale, Rio Tinto, and BHP are diversifying their product offerings, moving beyond iron ore to include new energy metals in response to the plateauing demand for steel [2]. - The competition in the industry is evolving from a "black" (traditional) to a "green" (sustainable) focus, with companies exploring ways to produce greener iron ore and assist downstream steel producers in reducing carbon emissions [1][2]. Group 2: Company Strategies - Vale's financial report indicates that iron ore remains its primary product, generating $8.423 billion in net revenue for Q3 2025, while copper and nickel revenues were significantly lower at $1.086 billion and $1.01 billion, respectively [4]. - Vale is also expanding its copper production capacity in Brazil, with plans to increase annual output by 32% to approximately 350,000 tons by 2030, aiming for a long-term target of 700,000 tons [4]. - BHP's interest in copper is evident from its previous attempts to acquire Anglo American for £31.1 billion (approximately $38.8 billion), which would have made it the largest copper producer globally [4]. Group 3: Green Initiatives - Mining companies are increasingly integrating sustainability into their operations, with Vale showcasing its eco-friendly iron ore products that can reduce greenhouse gas emissions from steel production by up to 10% [6][9]. - BHP is utilizing innovative methods to convert carbon dioxide into high-value products, while Rio Tinto is developing technologies that significantly reduce greenhouse gas emissions during aluminum production [9].