The iron mine projects under construction in China have a capacity totaled 120 m

The iron mine projects under construction in China have a capacity totaled 120 million tons 发布时间:08-11-11    阅读次数:   

According to Zou Jian, chairman of Metallurgical Mines' Association of China, there are 17 iron ore projects under construction in China at present, and the capacity totals 120 million tons. These projects are to launch operation in next 2 to 3 years. Among these, several projects have a capacity of 10 million tons or more, including Taigang’s Yuanjiacun Iron Mine Project (22.0 million tons), Phase Two of Tanggang’s Sijiaying Iron Mine Project (15.0 million tons), Anhui Huoqiu Iron Mine Project (14.50 million tons) and Baogang’s Baiyun West Mine (10 million tons). Besides, Magang’s Luohe Iron Mine Project has a capacity of 5.0 million tons, and Shougang’s Xingshan Iron Mine Project has a capacity of 4.0 million tons. According to Zou Jian, the global finance crisis hit the iron and steel industry in China, and slowed the growth in production; therefore the increase in iron ore production in China could meet the growth of iron and steel capacity. The oversea iron ore and ocean freight market will see an end to the period of incredible high profitability but maintain a considerable profit due to the monopoly in supply. From the end of 2008, the iron ore price will gradually become stable.