A senior executive from China Minmetals Corp said on October 28, the company is seeking to purchase an iron ore project in Mauritania of West Africa.
China Minmetals Corp. is the largest metal trading company in China.
Ma Jun, director of General Office of Minmetals told reporters in a luncheon meeting, the Group has completed a preliminary study to the project.
Ma Jun didn't elaborate the project and didn't disclose the scale, either.
Ma Jun pointed out that even if the project resulted in losses, Minmetals Group must seize the opportunity for such a purchase.
Minmetals Group and Societe Nationale Industrielle et Miniere(SNIM) set an iron ore JV enterprise, which is set to produce 2.5mln tons of iron ore. SNIM is the world's seventh-largest iron ore supplier.
Since this year, SNIM became China's ninth-largest iron ore supplier and China imported 4.9mln tons of iron ore from SNIM in January to September, up 3 times compared with same period last year.
Source: MetalBiz
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