Jining Iron Mine has a reserve of more than 10 billion tons

[2008-12-23 17:05:58]

  An ultra large iron mine was found in Yanzhou, Shandong Province, but the reserve of the mine, and the grade of iron ore of this mine was revealed recently. What will this discovery do to the iron and steel industry in Shandong, and even in China? Huang Tailing, deputy director general of Shandong Provincial Bureau on Geology and Mineral Resources, said: “Jining Iron Mine has an estimated reserve of no less than 10 billion tons, the largest iron mine in Shandong till now, and one of the major iron mines in China. Now a land of about 8 square kilometers is under exploration. 17 holes with a depth of more than 1,000 meters will dig, to study the thickness, depth and shape of the orebody through the rock core. ” Based on the exploration report, the iron ore in this mine has an average iron content of 25.97% to 31.72%. In this connection, the grade of iron ore of the mine is low, but, as the mine has an ultra large reserve, and the mine is a magnetite mine, Jining Mine is worthy mining. The mine can serve the iron and steel companies in Shandong for 50 years It is reported that the iron and steel production in Shandong Province totaled 30 million tons per year or so. Estimating that the mine has a reserve of 10 billion tons, and the iron content averages 20%, Jining Mine can serve iron and steel companies in Shandong for 50 years. According to Huang Tailing, the iron and steel companies in Shandong are largely dependent on imported iron ores, and they have a weak tone on price negotiation for iron ores. Having this mine, the consumers in Shandong, or even in China, will be more independent when importing iron ores. Laigang has a priority on ores purchase In the 90s of 20 th century, the center government of China opened the mine exploration and mining to other economic sectors. As to Jining Mine, several investors has involved in this project. The development of Jining Mine will be funded by the central government, Laigang and so on, and the profit will be divided according to the shareholdings. Besides, according to the contract, Laigang has a priority on ores purchase. But due to that the mine is under exploration, the iron ores distribution is not decided yet.
Source: 中国钢铁工业协会网
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