Liaoning Province-based Chinese major steelmaker Bengang Steel Plates Co., Ltd. stated at an investor interaction platform on March 22 that the mining company of Liaoning-based Benxi Iron and Steel holds rich iron mine resources, mainly located in Benxi city and Liaoyang city in Liaoning Province, with confirmed iron ore resources amounting to 1.48 billion mt and potential iron ore resources reaching 9.57 billion mt.
In 2021, the mining company of Benxi Steel produced 8.19 million mt of iron ore concentrate, 2.16 million mt of pellet and 1.36 million mt of quick lime.
As reported by SteelOrbis on March 21, Bengang Steel Plates intends to replace all assets and liabilities related to its steel business with the mining asset of Liaoning-based Benxi Iron and Steel, though the specific scope of assets involved in the asset replacement needs to be determined by both parties.
If the transaction goes through, the main business of Bengang Steel Plates will shift from steel to mining.
