Chinese iron ore producers aim to increase the production of domestic iron ore concentrate to 100 million tonnes (mn t) by the end of the China’s 14th Five Year Plan i.e 2021-2025, the Vice President of the China Iron and Steel Association (CISA), Luo Tiejun, told a conference held in Shijiazhuang on 4 Sept’21.
“It is hoped that the majority of iron ore companies will work together to strive to increase domestic iron ore concentrate output by more than 100 million tonnes during the 14th Five-Year Plan period,” Luo Tiejun said.
He also highlighted the positive effects of China’s ‘dual control’ policy. He said the policy has played a vital role in controlling the country’s crude steel production as well as surging global iron ore prices, bringing these down to a reasonable range.
In recent years, the development of China’s iron ore mines has been restricted by factors such as safety, environment, ecology, and resources. In addition, high costs and heavy taxes on production and operations have greatly restricted the progress of new mine projects, the CISA vice president said in the meeting.
Further, he pointed out the future plans and research studies undertaken for the development and improvement of iron ore resources in China.
“Recently, relevant departments are studying and supporting the improvement of domestic iron ore resource guarantee capabilities,” Luo Tiejun said and CISA will closely cooperate with this work, he added.
This will not only help in the development of overseas iron ore resources and promote the accelerated development of high-quality iron ore projects such as Simandou iron ore project in Guinnea but will also establish a fairer and more transparent and reasonable iron ore pricing system, and jointly promote the iron ore resource guarantee, he added.
Leave a Reply