China's new iron ore concentrate annual production capacity is about 50 million tons

Due to the large absolute value of my country's crude steel production, it is difficult to meet the needs of crude steel production solely by relying on domestic resources. In the future, my country's high dependence on imported ores will not change. Therefore, strengthening the development of overseas iron ore resources has become one of the important ways to effectively reduce my country's dependence on foreign iron ore.

In recent years, driven by the "Iron Resources Development Plan", my country has restarted some new overseas iron ore projects, such as the Western Slope Project and the Onslow Project in Australia, and the Gara Djebilet Iron Mine in Algeria, Africa. project and the Simandou iron ore project in Guinea. Among them, the West Slope Project is jointly constructed by Rio Tinto Group and China Baowu, with a designed annual production capacity of 25 million tons, and is expected to be completed and put into operation in 2025; the Onslow Iron Ore Project is jointly owned by Australian Mineral Resources Company, China Baowu, and AMCI ( The United States Metal Coal Company) and South Korea's Posco are jointly constructed with a total investment of approximately 3 billion Australian dollars (2.1 billion U.S. dollars), and the first batch of products has been delivered; Algeria's Gara Djebilet iron ore has an average grade of 53% and reserves of approximately 3.5 billion tons. China CMH Consortium (composed of MCC International Engineering Group Co., Ltd., China Water Resources and Electric Power External Co., Ltd. and Hunan Shengshi Sunshine Technology Co., Ltd.) is jointly developed with Algerian steel mills. It is expected that the annual production capacity will reach 2 million tons in 2026 and 2 million tons in 2035. Reaching 25 million tons.

Due to the large absolute value of my country's crude steel production, it is difficult to meet the needs of crude steel production solely by relying on domestic resources. In the future, my country's high dependence on imported ores will not change. Therefore, strengthening the development of overseas iron ore resources has become one of the important ways to effectively reduce my country's dependence on foreign iron ore.

At present, my country's overseas iron ore mines that have been completed and put into production include CITIC's Sino-Australia Magnetite, Anshan Iron and Steel's Carrara Iron Mine, Shagang's Savage River Iron Mine, Shougang's Marcona Iron Mine, and Qinghua Mining's Tangklili Iron ore, etc., the current annual output of iron ore concentrate is about 55 million tons. Among them, the CITIC Sino-Australia Magnetite Project is the largest low-grade magnetite project in Australia, producing approximately 21.4 million tons of magnet concentrate powder in 2022; Anshan Iron and Steel Group’s Carrara Iron Mine has an annual output of 8 million tons of iron concentrate; Shagang Savit Qihe Iron Mine has an annual output of 2.5 million tons of high-grade iron concentrate for blast furnace pellets, of which Shagang holds 48%, with an annual equity mine output of over 1 million tons; Shougang Marcona Iron Mine has an iron ore output of 12.8 million tons. ; The output of China Kingho Mining’s Tangkulili iron ore in Sierra Leone is about 1 million tons; the output of the original Baosteel Group’s overseas equity mines is about 1 million tons/year. Coupled with the approximately 15 million tons of Sinosteel Group under the management of China Baowu and its original overseas long-term cooperative mines, at this stage, my country's overseas equity iron ore resources in production total approximately 70 million tons.

In recent years, driven by the "Iron Resources Development Plan", my country has restarted some new overseas iron ore projects, such as the Western Slope Project and the Onslow Project in Australia, and the Gara Djebilet Iron Mine in Algeria, Africa. project and the Simandou iron ore project in Guinea. Among them, the West Slope Project is jointly constructed by Rio Tinto Group and China Baowu, with a designed annual production capacity of 25 million tons, and is expected to be completed and put into operation in 2025; the Onslow Iron Ore Project is jointly owned by Australian Mineral Resources Company, China Baowu, and AMCI ( The United States Metal Coal Company) and South Korea's Posco are jointly constructed with a total investment of approximately 3 billion Australian dollars (2.1 billion U.S. dollars), and the first batch of products has been delivered; Algeria's Gara Djebilet iron ore has an average grade of 53% and reserves of approximately 3.5 billion tons. China CMH Consortium (composed of MCC International Engineering Group Co., Ltd., China Water Resources and Electric Power External Co., Ltd. and Hunan Shengshi Sunshine Technology Co., Ltd.) is jointly developed with Algerian steel mills. It is expected that the annual production capacity will reach 2 million tons in 2026 and 2 million tons in 2035. Reaching 25 million tons.