Ansteel Group integrated its iron ore resources and established Ansteel Mining Group which was unveiled on the morning of October 11, in Anshan, Liaoning. It was the first domestic iron mine enterprise with 100mt capacity, which marks that Ansteel Group takes an important step in implementing national iron ore resource safeguard strategy, “making resource stronger and building world-class iron ore mine enterprise ” and accelerating resource integration of mining enterprise.

    In recent years, with the rapid development of domestic steel industry, the demand of iron ore is sharply increased. In 2013, our country imported more than 800 million tons of iron ore with the foreign-trade dependence of 70%. From this year on, the price for iron ore decreased from 126 US dollars at the beginning of this year to about 80 US dollars now. Under the pressure of high cost, more than 70% mines in China has had to reduce or stop the production. And they are facing the risk of being cleared out.

    At the conference, Mr. Shao Anlin, general manager of Ansteel Mining Group said Ansteel Mining Group would have more than 11 billion tons of proved resources after integration. If potential resources are included, the total resource quantity will reach up to 30 billion tons in the future. The capacity for excavating and beneficiating treatment will reach up to 400million tons and 120 million tons respectively, which is in the leading position in the world. Meanwhile, the company also has processing and extracting technologies of different quality ores. This will play an important role in contending with foreign monopoly, stabilizing price of imported ores, improving the guarantee capability of domestic iron ore and safeguarding economic safety of national industry, and will also have positive influence on leading domestic industry development and changing international market order of iron ore.