China will build 2 to 3 billion tons of iron ore group

The Secretary of the China Metallurgical and Mining Enterprises Association Lei Pingxi said in Shanghai on the 16th that during the “Twelfth Five-Year Plan” period, China will cultivate 2 to 3 billion tons of super large-scale iron ore mines, and “going out” mining has entered the express train. Road, it is expected that the iron ore market will shift from the current supply and demand basic balance to oversupply after 2013.

Lei Pingxi said that in the next five years, the industry will strive to increase the reserve of iron ore by 20 billion tons. At the same time, will be built into 2 to 3 million tons of large-scale iron ore group, 6 large-scale iron ore group of 30 million tons or more, a number of 10 million tons of iron ore enterprises.

While tapping domestic ore potential, “going out” mining has also entered the fast lane. Lei Pingxi pointed out that in 2010, China's overseas investment in mines formed 60 million tons of mineral resources, and in 2011 it is expected to increase to 90 million tons. In the future, it will reach 200 million tons/year, accounting for about 40% of the total amount of imported ore. Thus reducing the external dependence of iron ore.