Russia, Baotou Steel plan iron ore cooperation

Russia, Baotou Steel plan iron ore cooperation

A delegation from Russia visited Chinese Baotou Steel to discuss a possible cooperation on iron ore exploration. The delegation visited Baotou Steel's production line and also gave an introduction on Russia's relevant situation. The Russian zone located on the southern part of Lake Baikal is abundant with ore resources and holds nearly 400 million metric tons of iron ore reserves. It also has a great amount of magnetite resources. This zone has a convenient railway and highway transportation, which is suitable for bulky delivery.　 Both sides reached a preliminary agreement on the cooperation.