On January 6, Hebei Province-based Chinese steelmaker Hebei Iron and Steel Group announced that in 2013 its subsidiary Hebei Iron and Steel Group Mining Co. (Hebei Steel Mining) produced 7.55 million mt of
iron ore concentrate, up 4.57 percent year on year, while it achieved a net profit of RMB 1 billion ($0.165 billion) for the year.
In 2012, Hebei Steel Mining's total output of
iron ore concentrate had amounted to 7.22 million mt, while it had recorded a net profit of RMB 1.008 billion. As for 2014, the company is targeting an
iron ore concentrate output of 8 million mt and a net profit of RMB 1 billion.