Hebei Takes Over Macheng Iron and Ore Assets
China’s Ministry of Land and Resources has approved a plan by the Hebei provincial government to transfer assets from Macheng Iron and Ore to Hebei Iron and Steel Group, reports 163.com.
Macheng Iron and Ore has proven reserves of 1.044 billion tons of iron ore and prospective reserves of 500 million tons of iron ore with an average grade of 34.89 percent.
Hebei Iron & Steel Group, currently has total iron ore reserves of about 4.4 billion tons.
The company plans to increase its production capacity of iron ore to 30 million tons a year and improve its self-sufficiency rate in iron ore from 35 percent to 40 percent.
No comments:
Post a Comment