Chinese steelmaker Baowu Steel Group has announced that it will continue its Hardey iron ore project in Australia. The group expects to obtain a stable and high-quality source of imported iron ore.
The Hardey iron ore project, developed by Aquila, a subsidiary of Baowu Steel Group, in collaboration with Hancock, Australia's fourth largest iron ore producer, and other partners, has an annual output of 40 million tons of high-grade iron ore.
The project includes mines, ports and railways with an initial investment of $7.4 billion. The first iron ore is expected to be shipped in 2023.Chinese steelmaker Baowu Steel Group has announced that it will continue its Hardey iron ore project in Australia. The group expects to obtain a stable and high-quality source of imported iron ore. The Hardey iron ore project, developed by Aquila, a subsidiary of Baowu Steel Group, in collaboration with Hancock, Australia's fourth largest iron ore producer, and other partners, has an annual output of 40 million tons of high-grade iron ore. The project includes mines, ports and railways with an initial investment of $7.4 billion. The first iron ore is expected to be shipped in 2023.
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