Steel maker buys rights to mine Australian iron ore

0 CommentsPrint E-mail Xinhua, July 8, 2010
Adjust font size:

China's third largest steel maker, Wuhan Iron and Steel Corporation (WISCO), completed a joint venture on Wednesday with Australian Centrex Metals Ltd corporation (CXM) to develop iron ore mines on south Australia's Eyre Peninsula.

WISCO paid 51.5 million Australian dollars (43.7 million U.S. dollars) to CXM for mineral exploitation rights and another 50 million Australian dollars to the joint venture to cover the cost of the first-phrase exploration, said sources of the central-China-based WISCO.

The joint project, with an estimated investment of 1.5 billion U.S. dollars, is expected to annually produce 33 million tonnes of raw iron ore, along with 10 million tonnes of refined iron ore, the sources said.

With a controlling share of the new joint venture, WISCO would have the final say on the exploration and operation of the Australian iron ore mines.

CXM, a company listed on the Australian Stock Exchange, owns several mining sites in south Australia. The project area with WISCO is located on South Australia's Eyre Peninsula and is believed to have deposits of 2.282 billion tonnes of iron ore.

With an average annual production of 30 million tons, WISCO ranks seventh among steel makers in the world on a production scale. However, WISCO receives 80 percent of its iron ore from overseas and is facing a survival crisis caused by the spike in iron ore prices on the international market.

Print E-mail Bookmark and Share

Go to Forum >>0 Comments

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter
主站蜘蛛池模板: jizz之18| 久久久精品久久久久久96| 男女一级免费视频| 国产亚洲欧美日韩综合综合二区| caoporn97在线视频进入| 在线观看国产成人av片| 一本色道无码道在线观看| 日本japanese丰满奶水| 久久精品国产久精国产果冻传媒| 欧美成人免费一区二区| 亚洲网站免费看| 看看黄色一级片| 午夜福利啪啪片| 老师的圣水女主小说网| 国产午夜精品一区二区三区漫画| 日韩欧美一区二区三区免费看| 国产精品视频永久免费播放 | 狠狠夜色午夜久久综合热91| 午夜a级理论片在线播放| 美女女女女女女bbbbbb毛片| 国产一级视频免费| 青青青青草原国产免费| 国产成人精品电影| 欧美欧洲性色老头老妇| 国产精品99久久久久久董美香| 最近中文字幕更新8| 国产精品美女久久久浪潮av| 91香蕉视频在线| 国内精品久久久久久无码不卡| 99久久精彩视频| 在线观看国产精美视频| asspics美女裸体chinese| 天天综合亚洲色在线精品| www.av在线| 婷婷久久久五月综合色| 一二三四社区在线中文视频| 宅男lu66国产在线播放| а天堂中文地址在线| 女女女女BBBBBB毛片在线| japanesexxxx乱子老少配另类| 女大学生的沙龙室|