Chinese steelmaking company Hebei Steel Group has announced that its mining subsidiary Laiyuan Nonferrous Metal Company has signed agreements to acquire stakes in six mining companies in the ‘Great Bay' area in Laiyuan County, Hebei Province, namely, Laiyuan Dongfeng Mining Company, Laiyuan Jindi Plant, Xian Company, Tongda Company, Xiyuan Company and Juhuo Group Beiyegou Company.
The acquisition of the stakes in the companies in question is expected to mark an important step forward in the integration by Hebei Steel Group of raw material resources in the Great Bay area in Laiyuan County.