https://www.miningweekly.com
Construction|Exploration|Iron Ore|Projects|Steel|Underground
Construction|Exploration|Iron Ore|Projects|Steel|Underground
construction|exploration|iron-ore|projects|steel|underground

China to speed up iron-ore projects to secure domestic supply

19th April 2023

By: Reuters

  

Font size: - +

BEIJING - China's state planner on Wednesday said it will accelerate the construction of iron ore exploration projects and improve its capability to ensure iron ore supplies.

The National Development and Reform Commission will also closely monitor iron-ore market dynamics and take steps with relevant departments to limit irrational price increases, spokeswoman Meng Wei told a regular news briefing.

The government has been vexed about heavy dependence on imported iron ore, with more than 70% of China's needs coming from overseas, and intends to increase domestic supply.

The government-backed China Iron & Steel Association began an initiative last year to boost domestic supply to 370-million tonnes by 2025.

China's annual iron-ore output is set to hit an eight-year high of 290-million tonnes in 2023, analysts estimated.

Consultancy Wood Mackenzie said domestic output may not increase much further in the near term given many new projects are underground mines and that complex geological conditions and high costs are likely to complicate construction.

The world's largest iron ore consumer produced 44.50-million tonnes of iron-ore concentrate in the first two months of 2023, showed data from the Metallurgical Mines' Association of China.

Edited by Reuters

Comments

Latest Multimedia

Photo of Martin Creamer
On-The-Air (26/04/2024)
Updated 1 hour 49 minutes ago By: Martin Creamer

Showroom

SMS group
SMS group

At SMS group, we have made it our mission to create a carbon-neutral and sustainable metals industry.

VISIT SHOWROOM 
SBS Tanks
SBS Tanks

SBS® Tanks is a leading provider of innovative water security solutions with offices in Southern Africa, East and West Africa, the USA and an...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.159 0.198s - 107pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: