SteelOrbis Shanghai
As revealed by a governor of AGS-RN Rio Negro, a province of Argentine recently, MCC ( China Metallurgical Group Corporation)'s iron ore project in Argentina will resume operation as of March, delivering iron ores to China in the first half year of 2009. The Salinas Grande iron ore mine in this project has produced 30,000 mt of iron ores for this August, which rose to 44,000 mt for this November.
MCC acquired 70 percent stake in Salinas Grande iron ore mine, thus owning parts of the rights of production, business and administration of the mine. Besides, the company has established a company named China Metallurgical Group Argentine Co., Ltd to operate this mine.
This mine was closed in 1991. Following the takeover, MCC planned a total investment of $ 130 million for the project.