According to Mr Kong Dan formal board director, CITIC Pacific iron ore production facility in Australia will be put into operation with an annual output target of 20 million tonnes. CITIC Pacific bought the project for USD 5.2 billion in 2006.

According to earlier media reports, Sino-Tech International another public company related to CITIC Group bought 15 transport ships for five billion US dollars paving the ground for further inroads into Australia iron industry.

(Sourced from yicai.com)