Sichuan Province-based Chinese steelmaker Pangang Group has announced that it established a new
iron ore subsidiary called Panzhihua
Iron Ore Co., Ltd (Panzhihua
Iron Ore) on November 23.
Panzhihua
Iron Ore has been formed from existing Sichuan-based Pangang Group subsidiaries Lanjian
Iron Ore and Zhujiabaobao
Iron Ore, which respectively commenced operations in 1970 and 1973. To date, their aggregate
iron ore mining output volume has amounted to 1 billion mt.