China’s Shandong Steel inks long-term iron ore supply deal with BHP Billiton

Jinan-based Chinese steelmaker Shandong Iron and Steel Group (Shandong Steel) has signed a new long-term contract with Australian iron ore miner BHP Billiton for supplies of iron ore. Zhou Zhongchen, board director, and Chen Xiangyang, deputy general manager, signed on behalf of Shandong Steel.
 
BHP Billiton's annual iron ore output capacity is expected to reach 205 million mt at end of 2011, and in future may reach 300 million mt.