North Asia Resources and Sinosteel Trading to cooperate on Mongolian iron ore

Thursday, 26 August 2010 11:43:08 (GMT+2)

North Asia Resources Holding Company has announced that it has signed a long-term cooperation agreement with Sinosteel Trading Co., Ltd, subsidiary of Sinosteel Group, to develop iron ore businesses in Mongolia.

North Asia Resources Holding Company started to focus on the mining of iron ore, copper and placer gold in Mongolia as of December 2009.

Sinosteel Trading, whose predecessor is China Metallurgical Import and Export Company, is a large state-owned international trading company. In 2009, Sinosteel Trading imported more than 40 million mt of iron ore, thus becoming the largest iron ore importer in China for the year in question.

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