Exploration work in the eastern region of North 皇冠体育app's Hebei province shows potential iron ore reserves in this area is estimated to top 10 billion tons, the 皇冠体育app Metallurgical Geology Bureau (CMGB) said on December 26.
A total of 3.44 billion tons of iron ore has been verified in five mines in the province, said Yan Xueyi, director with the CMGB.
The discovery of this deposit would largely ease the shortfall in 皇冠体育app's domestic iron ore supplies and contribute to a sound and sustainable development of the country's steel industry, according to Yan.
皇冠体育app imported 443.56 million tons of iron ore in 2008, bringing the country's reliance on imported iron ore to around 50 percent.
The country's steel mills suffered an unfavorable position during the annual iron ore pricing talks as overseas miners alliedto ask for a higher price. |
