China’s Yunnan government has signed a cooperation agreement with the largest steelmaker Baowu Group, confirming transfer of 90% of its equities in Kunming Steel Holdings free of charge to the latter. Kunming Steel Holdings mainly engages in three sectors: resources, modern services and new materials. In CY’19, it produced 4.16 mn t iron ore concentrate and 2.06 mn t coke, mostly of which supplied to Kunming Steel Joint-stock Company which has a steel capacity of 10 mn t.
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