Inner Mongolia-based Chinese steelmaker Baotou Iron and Steel Co., Ltd. (Baogang) has stated that the setting up of China Mineral Resources Group Co., Ltd. was a national strategy which aimed to bring certain benefits to the standardized operation of iron ore importation, and that it has also joined China Mineral Resources.
China Mineral Resources Group Co., Ltd. was established on July 19, 2022. It is located in Xiong’an new district of Hebei Province and is a wholly state-owned company and state-authorized investment institution directly managed by the central government. The registered capital of China Mineral Resources is RMB 20 billion.