WISCO controls 3 billion mt of overseas iron ore resources

Monday, 30 August 2010 13:07:58 (GMT+2)

Hubei Provine-based Chinese steelmaker Wuhan Iron and Steel (WISCO) has stated that after two years of cooperation with overseas companies it now controls 3 billion mt of overseas iron ore resources. After another five years, the volume will increase to 10 billion mt, with the company's self-sufficiency in iron ore supplies rising to above 75 percent.

According to its strategy for the coming five years, WISCO will focus on establishing overseas iron ore bases, with particular focus on Australia. the Americas and Africa. In 2015, WISCO is expecting to have a steel output capacity of 60 million mt or more.

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