December 02, 2008

Tonghua Steel JV to develop Dunhua Tadong iron ore deposits

Jilin Province based Tonghua Iron & Steel Group Co Ltd signed an agreement August 28th 2007 with Yanbian Tianchi Industry & Trade Co, Jilin Geological Survey Bureau and Huangnihe Forestry Bureau to jointly develop Tadong iron mine in Dunhua of the province of China.

Tadong iron mine is the largest ever found, with total reserves topping 136 million tonne in Jilin Province, cited around Huangnihe forestry Bureau. It has additional useless iron ore reserves of some 40 million tonnes, accompanied by navajoite, phosphorite, cobalt ore etc. Iron ore in its preferred section has Fe grading 20% or above.

Mr Zhao Shengtang head of Jilin province's land and resource administrative department with all kinds of resource, Tadong mine can top CNY 100 billion in value.

The province's Geological Survey bureau plunged CNY 12 million to prospect Tadong mine since April 2006. With other three parties, a joint venture was built to carry out the ore development project.

Mr An Fengcheng chairman of Tonghua Iron & Steel Group said that exploitation of Tadong ore mine would secure Tonghua Steel's goal of expanding steel capacity to 10 million tonnes in following years.

(Sourced from MySteel.net)