A delegation from
Russia visited Chinese
Baotou Steel to discuss a possible cooperation on
iron ore exploration.
The delegation visited
Baotou Steel's
production line and also gave an introduction on
Russia's relevant situation.
The Russian zone located on the southern part of Lake Baikal is abundant with ore resources and holds nearly 400 million metric tons of
iron ore reserves. It also has a great amount of magnetite resources. This zone has a convenient railway and highway transportation, which is suitable for bulky delivery.
Both sides reached a preliminary agreement on the cooperation.