As one of the state-owned enterprises that first “Go Global” pursuing economic and technological cooperation, Sinosteel has been striving for the exploration and application of the global distribution of metallurgical mineral resources. As early as in the 1980s, having actively responded to the national call of 'utilizing two kinds of resources and facing two markets', Sinosteel stepped further to develop overseas resources, and has established safe, stable and reliable resource supplying system.
Located in Paraburdoo, Australia, Channar Iron Ore Mine is one of the largest Sino-Australian cooperative projects. The total ore reserve of Channar Mine is 200 million tons, embedded with good-quality hematite ore with an annual production capacity of 10 million tons of iron ore. It has accumulatively produced more than 100 million tons of iron ore shipped to China through Sinosteel, which vigorously promotes the development of China's steel industry.
SA Metals, the joint chrome ore venture established by Sinosteel and South Africa Limpopo Province Development Corporation, is China's largest resource investment project in South Africa. This project includes a chrome ore mine with an output of 400,000 tons of chrome ore and a smelting plant producing 120,000 tons of ferrochrome each year. This mine has the chrome ore reserve of 45 million tons, which is four to five times as much as the total chrome ore reserve in China. There are two smelting furnaces that produce foundry chrome sand, metallurgical grade chrome sand, metallurgical chrome lump and good-quality charging high carbon ferrochrome, which are sold to Japan, ROK, Europe, USA and China.
By means of bank-enterprise cooperation, Sinosteel energetically promotes overseas resources development and establishes complete strategic supplying chain from mining, logistics to port loading. The complete strategic supplying chain, with broad perspective, will improve the competitiveness of Chinese enterprises in international mineral resources market.
To further guarantee the sustainable supply of metallurgical resources, Sinosteel actively seeks for new resource bases.
The total estimated investment of Midwest project reaches 1.9 billion US dollar
Sinosteel establishes new chrome ore base with South African Samancor Company
The total iron ore reserve of Cangshan project reaches 80 million