On April 6, Tian Zhiping, deputy general manager of leading Chinese steelmaker Hebei Iron and Steel Group, stated that the company intends to purchase iron ore from the Cerro Negro Norte (CNN) iron ore mine project in Chile.
Accordingly, Hebei Iron and Steel Group and Chilean company Compañía Minera del Pacífico (CMP) lately signed a memorandum of understanding regarding development of the CNN iron ore project.
Senior officials at Hebei Iron and Steel indicated that the group has not bought any stake in the CNN project but only intends to purchase iron ore supplies.