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Article: China : Chonggang plans to buy 3bln tons of iron ore from Australia.
- Article from:
- TendersInfo
- Article date:
- September 29, 2009
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By the end of 2010, Chonggang will own the yearly steel production for 6.5mln tons and selling revenue for 35bln yuan, and iron ore is the major support. Chonggang stated on September 24 that at present besides the 5 mines in Sichuan, Shaanxi and Chongqing making the domestic iron ore exploit reach 10mln tons and the self-sufficiency hit above 50%, and now the government is face to face negotiating with relevant Australia side on purchasing one iron mine with 3bln tons of deposit. If the project can succeed operating and it will become Chongqing's overseas largest iron ore buying project.
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