Chongqing Iron & Steel speeds up mining in Australia

Chongqing Iron & Steel Group is developing magnetite in Extension Hill of Australia. With 16.906 million yuan subsidized by the state and the municipal government recently, the company will speed up its development progress.

In 2011, Chongqing Iron & Steel Group finished the purchase of the magnetite mine in Extension Hill, Australia and started the program at the end of the year. According to the plan, the first phase will be accomplished at the end of 2013 and be put into operation in 2014, with the annual capability of 10 million tons.

Deng Jun