Mining 350 tons of Canadian Iron and Steel in Canada

Recently, it was learnt from Wuhan Iron and Steel Group that WISCO, as the largest ore owner in the world's steelmakers, made 350 million yuan in mining in Canada last year, exceeding 20% ​​of its total annual profit of 1.7 billion yuan. One of the best. Steelmaking cannot make money, and overseas mining becomes a new way for steel companies to make profits.

The Bloom Lake mine in Quebec, Canada, is the first iron ore project invested by WISCO overseas. Last year, global iron ore demand fell and prices fell. WISCO Canada and its joint venture partners reduced the cost of mine production and logistics, broadened sales channels, and achieved good returns.

In 2009, Wuhan Iron & Steel quickly “staking its claims” overseas, adopting purchases of mineral rights, stock rights, joint ventures, sole proprietorships, and shareholdings, and investing in iron ore in Madagascar, Canada, Brazil, and Liberia to lock in overseas equity resources. The amount is 232 billion tons. Today, "Ocean ore" has become a weapon for Wuhan Iron and Steel to reduce its efficiency and resist cold weather.

This year, Wuhan Iron and Steel, which is located in Canada, Australia, Brazil and other countries, will increase production or start production of new products. The output of “Ocean ore” will increase, and the annual output will reach 15 million tons, nearly 2 times that of last year.

Wuhan Iron and Steel Group stated that in 2016, Wuhan Iron and Steel could achieve full iron ore self-sufficiency.