Baosteel And CRCC To Participate In Chalco's Guinean Iron Ore Venture

Resource from: CBCC Likes:3013

Nov 30,2011

Baosteel Group, the parent of Baoshan Iron and Steel, and China Railway Construction Corporation have signed an agreement on November 29 to jointly participate in the exploration of an iron ore mine in Guinea which has Aluminum Corporation of Chin and Rio Tinto as its investors. Baosteel Group and China Railway Construction Corporation will only participate in the construction of infrastructure such as ports and railways, and will not dilute the stake held by Aluminum Corporation of China in the iron ore mine, according to the spokesman. According to an agreement signed in July 2010, Aluminum Corporation of China will invest $1.35 billion in return for a 47 percent stake in the iron ore project, upping its stake in the iron ore mine to 50.35 percent. The iron ore mine is expected to be operational in five years, yielding annual iron ore output of 70 million tons.

(CBCC)

【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.

Add to My Favorites

[Close the window]

Previous The Largest High-end Seamless Steel Pipe Production Base Officially Put into Operation in Henan
Next C &U "Precision Auto Bearing Fixed Assets Investment Project" to Achieve Output of 200 Million Yuan

BRIEF INTRODUCTION

Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.

Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.

China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.