CVRD to supply half of Anyang’s imported iron ore

CVRD to supply half of Anyang’s imported iron ore

The recent arrival at China’s Qingdao Port of a cargo ship carrying 170'000 tons of iron ore from Brazil marked the formal establishment of cooperative partnership between China’s Anyang Steel and Brazilian mining company CVRD. In May 2004, the two companies inked a six-year iron ore supply deal that guarantees Anyang a total of 6.25 million tons of ore over the course of the contract. Anyang is also entitled to an additional 1.5 million tons depending upon CVRD’s production. Anyang’s 2004 iron ore imports amounted to 2.2 million tons. The agreement with CVRD thus means that the Brazilian company will supply almost half of Anyang’s annual iron ore import needs. In addition to CVRD, Anyang also imports iron ore from South Africa, Australia, India, Iran and Mexico.