Shanxi-based Chinese steel producer Taiyuan Steel has signed an equipment supply contract with major international equipment manufacturers including Finland-based Metso and US-based General Electric (GE) as well as with China's CITIC Heavy Industries Co., regarding the supply of grinding machines for Taiyuan steel's Lanxian Mining Company, indicating the significant progress being made at Taiyuan Steel's Yuanjiacun iron ore mine project.
Metso is one of the three leading equipment suppliers for the mining industry in the world, GE is the world's largest supplier for electrical equipment, while CITIC Heavy Industries is a leading equipment supplier in China.
As reported previously, the Yuanjiacun project is the biggest iron ore project in China with a total investment of nearly RMB 10 billion ($1.46 billion).