Chinese Luneng to build mining complex in Russia

Chinese power company Shandong Luneng Group (Luneng) is planning to build a 10 million metric tons per annum capacity iron ore mining complex in Berezovsk region of Russia's Chita province. Luneng obtained license for the rights to exploit the iron ore deposits in the region in June 2005. The deposits are near to Russia-China border and therefore Russian metallurgical companies do not prefer mining these deposits. Luneng is planning to build the mine and the concentrating plant, and then export iron ore concentrate to China. The construction of the mining complex is expected to be completed by 2008.