Shanxi-based Chinese steelmaker Taiyuan Iron and Steel Co. (TISCO) has announced that it plans to invest in the construction of the largest open-pit iron ore mining project in China, namely, the Lvliang iron ore project located in the county of Lan in the east of the Lvliang region in Shanxi Province.
The total investment in the iron ore project by TISCO will be RMB 10 billion ($1.565 billion). The designed annual iron ore concentrate capacity of the project will be 7.4 million mt.