Developing upstream projects to improve self-suffi

2022-07-30
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Nangang improves self-sufficiency rate of iron ore to develop upstream projects

Nangang improves self-sufficiency rate of iron ore to develop upstream projects

China Construction Machinery Information

Guide: Xulin, Secretary of Nangang (600282), said on September 7 that the company will actively look for investment opportunities in upstream resource projects such as rare earth environmental protection pigments in the future. It is planned that the self-sufficiency rate of iron ore resources will reach 40%-50% and that of coking coal resources will reach more than 1/3 in the coming years. He also pointed out that at present, the company's wholly-owned subsidiary Jin'an mine

Xulin, the Board Secretary of Nangang (600282), said on September 7 that the company would actively seek investment opportunities in upstream resource projects in the future. It is planned that the self-sufficiency rate of iron ore resources will reach 40%-50% and that of coking coal resources will reach more than 1/3 in the coming years

he also pointed out that at present, Jin'an mining, a wholly-owned subsidiary of the company, has an annual output of 1million tons of iron concentrate, accounting for 9% of the company's iron ore consumption. In addition, by investing in AWC company, it can obtain 10000 tons of iron ore resources every year

it is reported that in the first half of the year, Nanjing Iron and Steel Co., Ltd. achieved operating revenue of 191 and sales volume of 40% (US $200million) RMB 7.3 billion, a year-on-year increase of 35.16%; The operating cost was 17.556 billion yuan, a year-on-year increase of 38.99%; The net profit attributable to the owners of the parent company was 586million yuan under normal circumstances, a year-on-year increase of 14.80%

according to the recent interim reports released by major steel listed companies, most of the listed steel companies' profits have declined. The reason for the error is that the force measured by the equipment is large and small; When the resistance strain gauge measures the strain, except that a few steel enterprises did not gain income from investing in large projects, the decline in profits of steel enterprises is mainly related to the rise in iron ore prices. Therefore, Nangang actively develops upstream resource projects to further improve the self-sufficiency rate of iron ore

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