China grows self-supply of iron ore

[aimarraul]

China grows self-supply of iron ore
English.news.cn 2010-03-20 17:49:09 FeedbackRSS



Beijing, March. 20 -- Currently, China's self sufficiency in iron ore is about 50%. But the Ministry of Land and Sources has reported that China's future reserves of iron ore are estimated at over 200 billion tons, easing the country's dependence on imported iron.

In the last year, China has found new iron ore reserves of about 5 billion tons in various parts of the country. One mine is located in Benxi, Liaoning Province with 3 billion tons in iron ore deposits, while another in Hebei Province has proven reserves of over 1 billion tons.

Zhang Hongtao, General Engineer of Ministry of Land and Resouces, said, "China is abundant in iron ore resources. We have at least 200 billion tons of reserves. It will be enough to use in the coming decades."

China's level of self-supplied iron ore is on the rise. In 2003, China supplied 260 million tons, growing this to 880 million in 2009 at an annual growth rate exceeding 20 percent. Apart from that, new mines under construction expected to be operational in 3 to 5 years will be capable of producing 480 million tons each year.

Zhang Hongtao, General Engineer of Ministry of Land and Resouces, said, "In 3 to 5 years, new mines will be operational. And it will definitely ease our dependence on imported iron ore."

New domestic discoveries of iron ore in China will help the country's steel makers' offset pressure from the increasing cost of foreign iron ore.

 

[Hafizzz]

China grows self-supply of iron ore
English.news.cn 2010-03-20 17:49:09 FeedbackRSS



Beijing, March. 20 -- Currently, China's self sufficiency in iron ore is about 50%. But the Ministry of Land and Sources has reported that China's future reserves of iron ore are estimated at over 200 billion tons, easing the country's dependence on imported iron.

In the last year, China has found new iron ore reserves of about 5 billion tons in various parts of the country. One mine is located in Benxi, Liaoning Province with 3 billion tons in iron ore deposits, while another in Hebei Province has proven reserves of over 1 billion tons.

Zhang Hongtao, General Engineer of Ministry of Land and Resouces, said, "China is abundant in iron ore resources. We have at least 200 billion tons of reserves. It will be enough to use in the coming decades."

China's level of self-supplied iron ore is on the rise. In 2003, China supplied 260 million tons, growing this to 880 million in 2009 at an annual growth rate exceeding 20 percent. Apart from that, new mines under construction expected to be operational in 3 to 5 years will be capable of producing 480 million tons each year.

Zhang Hongtao, General Engineer of Ministry of Land and Resouces, said, "In 3 to 5 years, new mines will be operational. And it will definitely ease our dependence on imported iron ore."

New domestic discoveries of iron ore in China will help the country's steel makers' offset pressure from the increasing cost of foreign iron ore.

India feels the pain :

Significantly for India, iron ore imports are expected to fall through the rest of the year, said economists, potentially hitting the country's biggest export to China and further widening a record trade imbalance.


The Hindu : Business News : China's slowing growth could hit India's exports

 

[chauism]

India feels the pain :

Significantly for India, iron ore imports are expected to fall through the rest of the year, said economists, potentially hitting the country's biggest export to China and further widening a record trade imbalance.


The Hindu : Business News : China's slowing growth could hit India's exports

Why do you have to make every bit of China's news into a pissing contest with India?

Can you talk about this news without mentioning the word "India"?

China does not live its day thinking about India every second of the day.

 

[ao333]

Who do you have to make every bit of China's news into a pissing contest with India?

Can you talk about this news without mentioning the word "India"?

China does not live its day thinking about India every second of the day.

Because India has huge iron reserves compared to its other various scanty resources. Its commodity exports consist largely of pig iron and coal, which in turn fuels one of India's most potent industries -- steel. More importantly, it is also one of the only industries India has established after Raj, but with Chinese assistance. http://www.indianchild.com/india_steel.htm The reason being that India had no access to modern metallurgy technologies due to international sanctions of India's illegal nuclear weapon tests in the late 80s, and 90s.

So, I guess it'd burn the Indians more, knowing that one of their only non-British/Soviet/American/Japanese industries was set up by the Chinese.

 

[scrumpy]

Because India has huge iron reserves compared to its other various scanty resources. Its commodity exports consist largely of pig iron and coal, which in turn fuels one of India's most potent industries -- steal. More importantly, it is also one of the only industries India has established after Raj, but with Chinese assistance. India Steel - Indian steel industry overview The reason being that India had no access to modern metallurgy technologies due to international sanctions of India's illegal nuclear weapons and tests in the late 80s, and 90s.

So, I guess it'd burn the Indians more, knowing that one of their only non-British/Soviet/American/Japanese industries was set up by the Chinese.

You do realise that some of the world's largest steel companies are run by Indians.

Corus Group - Wikipedia, the free encyclopedia
ArcelorMittal - Wikipedia, the free encyclopedia

 

[Hafizzz]

Because India has huge iron reserves compared to its other various scanty resources. Its commodity exports consist largely of pig iron and coal, which in turn fuels one of India's most potent industries -- steel. More importantly, it is also one of the only industries India has established after Raj, but with Chinese assistance. India Steel - Indian steel industry overview The reason being that India had no access to modern metallurgy technologies due to international sanctions of India's illegal nuclear weapon tests in the late 80s, and 90s.

So, I guess it'd burn the Indians more, knowing that one of their only non-British/Soviet/American/Japanese industries was set up by the Chinese.

Did you know that India always jack up the price of Iron ore when China wants to import from India ? Now India can keep all the Iron Ore for herself.