Hurricane Announced Key Tianjin Iron Ore Appointment
Hurricane Global Resource Corporation, a subsidiary of Los Angeles-based bank, Worldvest, has signed a Joint Venture to launch its Chinese Iron Ore Sales Office in Tianjin. The company has also announced the appointment of Qianli Ma as its Managing Director in charge of negotiating and managing all relationships with the Chinese steel industry.
Mr. Ma has extensive experience of the steel industry at state and federal level in China having previously served as Chief Purchasing Officer for a large state-owned steel producer and iron ore importer in China, overseeing the import of almost 35 million tonnes of iron ore in 2009 from over 90 suppliers around the world. Previously, Mr. Ma spent two years as the Deputy Representative for the Chinese Ministry of Commerce in Africa where he was highly involved in developing foreign trade, economic cooperation and foreign investment relationships between China and Africa.
Hurricane has begun assembling a consortium of steel producers seeking to secure long-term supplies of iron ore and is currently evaluating investment opportunities to develop iron ore mines for the benefit of this consortium. In the meantime, Hurricane has also begun sourcing interim supply and plans to broker iron ore transactions on behalf of its buyers.
Senior Managing Director Garrett K. Krause said: "At this time there is a dramatic shift taking place within the $80 billion global iron ore market. With the majority of the world's buying power, China has begun flexing its muscles and challenging the status quo. The result, in our mind, is an enormous opportunity for Hurricane to recognize and address the causes of the disconnect existing among producers and buyers in order to emerge as a long-term partner and solution provider in this market."
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