It is reported that Chinese steel major Shougang Group is considering investing in a mining project in the Philippines that could produce up to 1 million tonnes per year of chrome ore and 5 million tonnes per year of iron ore.

Shougang is reported to be in discussions with a private Chinese company Xiamen Huaxia Co, which owns the right to mine a 50 square kilometer area in the Philippines rich in chrome, nickel, platinum, palladium and other rare metals.