It is reported that China based Xinxing Pipe Casting Group reached a strategic agreement with the government of Enshi Autonomous State, Hubei Province to develop the Exi iron ore mine located in Enshi.

The Exi iron ore mine, one of the four largest iron ore mines in China boasts total indicated reserves of 1.3 billion tonnes with prospective reserves of over 4 billion tonnes. The Enshi authorities have expressed their expectation to capitalize on resource advantages in Enshi through the exploitation of the mine.

Within the scope of the agreement, Xinxing Pipe Casting Group has also announced plans to invest CNY 5 billion to establish an iron ore beneficiation plant with an annual capacity of 5 million tonnes of iron ore concentrate at Badong County in Enshi Autonomous State.

(Sourced from www.steelorbis.com)
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