Chinese steelmaking company Hebei Iron and Steel Group has stated that it plans to inject all its iron ore-related assets and businesses into its listed company Hebei Iron and Steel. The injection will begin after the listed company completes its acquisition of Hanbao Steel.
The iron ore assets include Sijiaying Iron Ore Mine, Heishan Mine and Shirengou Mine, all located in the province of Hebei, China, with the total iron ore reserves of 1 billion mt and above. The injection of assets is expected to improve the supply of raw materials for Hebei Iron and Steel.