On June 8, Chinese company Xinhu Zhongbao announced that it plans to buy coal mining rights to Siziwangqi iron ore deposit in China's Inner Mongolia region for a price of RMB 643 million.
Accordingly, Xinhu Zhongbao stated its intention to enter an agreement on the issue with the local government at Wulancha in Inner Mongolia and with the state-owned Siziwangqi mining company.