China Economic Net News, July 25 Beijing (Lin is rendering) China Steel Industry Association Deputy Secretary-General-Lee recently accepted "ChinaDaily" interview revealed that as the world's largest steel producer and iron ore demand, and China has developed A large-scale investment overseas iron ore development project in order to reduce dependence on the big three iron ore.He said the project will be five-second period (2011-2015) implemented.
It is understood that, in 2010 from Brazil, China, Australia and India's imports of iron ore in the proportion of total demand up to 62.3%, China's steel production is still heavily dependent on imported iron ore.
-Lee said that China's implementation of the program's main purpose is to break the big three global iron ore market monopoly. He said China's goal is to fight for imported iron ore in the proportion of total demand fell to 50%.To achieve this goal, China will increase efforts to develop iron ore resources overseas, the state plans to invest heavily in overseas iron ore assets or the acquisition of shares of some large iron ore investment development projects.
Currently Brazil's CVRD, BHP Billiton and Rio Tinto Group, the monopoly three companies represented 75 percent of global iron ore market.
Lee said: "At present, China imports iron ore project from Chinese ownership share of less than 10%." He said: "We hope the next 5-10 years, this figure can increase to 50%."
China Iron and Steel Association Vice Chairman Luo party earlier this year revealed that China's iron ore development projects owned by overseas production capacity has reached 150 million tons, but most projects have not yet put into production.
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