CHINA MAY HOLD 100MN-TON IRON ORES OVERSEAS IN 2010

AsiaInfo Services
04-27-2009
China May Hold 100mn-ton Iron Ores Overseas in 2010

BEIJING, Apr 27, 2009 (SinoCast Daily Business Beat via COMTEX) -- Chinese iron and steel giants will hold interests and rights of more than 100 million tons of iron ores produced from overseas mines by 2010, forecasted by Wang Guoqing, an analyst at lgmi.com that is a leading iron & steel market research Web site in China.

Initial statistics show that most of the iron mines Chinese companies have taken stake in are in Australia, about 80% of the total. These interests and rights are got via stake acquisition, assets acquisition, and cooperation in capital or …