• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Mining

China to build overseas iron ore mines to ensure supply

5 years ago
in Mining
1 min read
0 0
0
Iron ore mines - norvanreports

Iron ore mines - norvanreports

75
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

China aims to build one or two globally significant overseas iron ore mines by 2025 to boost the supply of the steelmaking ingredient and strengthen its pricing power, the industry ministry said on Thursday.

Equity output from stakes held by Chinese firms in overseas mines should account for more than 20% of iron ore imports by that year, according to a five-year plan for the steel sector published by the Ministry of Industry and Information Technology (MIIT).

The plan, which is open for public feedback until Jan. 31, also called for increased supply of other steelmaking mineral resources such as manganese and chrome.

China, the world’s biggest steel producer, currently relies on imports for around 80% of its iron ore but it is not known how much of that is from mines overseas in which it holds stakes.

It has domestic iron ore mines with a much lower grade than in top producers like Brazil and Australia, and owns a stake in the Simandou mine in Guinea.

“China will accelerate construction of large iron ore projects in West Africa and Western Australia,” the MIIT said, adding that cooperation would also be strengthened with resource-rich Russia, Kazakhstan, Mongolia, Cambodia and other neighboring countries

China will also speed up mergers and acquisitions in the steel sector and form several “world-class” steel groups, said the ministry.

RelatedPosts

Atlantic Lithium Cuts Deep as Cash Dries Up and Ghana Lease Stalls

Government Cancels $1.2bn Bauxite Deal, Eyes Global Partnership

Azumah Resources, E&P Mining Lease Dispute Nears Resolution – Lands Minister

The top five Chinese steelmakers are expected to account for 40% of China’s total steel output by 2025, while the top 10 will have a 60% share, up from 37% now.

New steel production capacity in China will be strictly prohibited and new steel projects in coastal areas are “in principle” not allowed, the MIIT said.

Electric arc furnaces – which mostly use scrap steel as feedstock – should account for 15-20% of crude steel output, it added.

The MIIT, which on Thursday jointly issued a statement allowing imports of high-grade steel scrap from Jan. 1, is seeking to increase the annual supply of domestic steel scrap resources to 300 million tonnes, the document said.

Source: mining.com
Via: norvanreports
Tags: ChinaIron ore minesMinistry of Industry and Information Technology (MIIT)
No Result
View All Result

Highlights

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Tanzania Sink Burkina Faso to Delight Home Crowd In TotalEnergies CHAN 2024 Opener

Trending

Features

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

MTN Nigeria Now the Most Capitalized Stock in Nigeria MTN Nigeria has surged to become the most...

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 2025

US Companies Cut Investments in China to Record Lows, Here’s Why

August 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.