The China Iron and Steel Association (CISA) has announced that it has approved a proposal for the establishment of an iron ore working committee to strengthen research on iron ore and promote the development of the steel industry.
The committee, which is composed of large, important iron and steel companies and the China Mineral Resources Group, will be a professional organization that will conduct self-management and self-discipline in iron ore-related research and development work.
Hu Qimu, chief research official at the Sinosteel Economic Research Institute, stated that the committee is expected to enhance integration of domestic mineral resources and import iron ore, by coordinating financial resources of companies, government agencies and banks for Chinese companies to enter the international markets with stronger competitiveness.