Hebei Iron & Steel Group (HBIS), China's largest iron ore plant in production, has identified a new iron ore reserve of 1.2bln tons, according to the Shanghai Securities News of Mar.10.
The two iron ore fields allocated by the Land and Resources Department of the province are located in Tangshan, with a total potential reserve of 1.2bln tons.
The Group said the new reserve helped to strengthen its capacity to handle price fluctuation of iron ore.
The Group plans to increase its annual iron output to 50mln tons in 2010.
Source: Alibaba News Channel
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