Xining Special Steel subsidiary establishes new JV

On October 24, Qinghai Province-based Chinese steelmaker Xining Special Steel Co. announced that its subsidiary Bo Lun Mining Co. has established a joint venture called Huatai-Bo Lun Energy Co. with Beijing-based Huatai Runda Energy Saving Technology Co. The new joint venture company aims to achieve improved quality and efficiency in vanadium smelting and to achieve lower production costs. The registered capital of the new JV is RMB 70 million ($11.4 million), with 55 percent contributed by Huatai Runda Energy Saving Technology and 45 percent by Bo Lun Mining.