China's Future Import And Export Of Iron Ore Will Account For 50% Of Total Imports.

In November 16th, Jiao Yushu, consultant of China Metallurgical Mining Enterprise Association, said at the twelve China International Mining Conference: it is estimated that in 2010, China's iron ore raw ore volume will reach 10 billion tons.

He said that China's domestic production was stimulated in 2009 because of the increase in import ore prices, which stimulated domestic ore production.

He further said: in 2009, China imported 6.277 million tons of iron ore, accounting for 68% of the world's total iron ore exports.

However, it did not get the right to speak of the "mineral price"; the international iron ore market was monopolized by the three largest iron ore suppliers in the world, and the mineral price was raised by resource superiority and product superiority. The three big suppliers developed greatly by the development of China's iron and steel industry, and three from the production in 2004 to only 4 billion tons, and now to 6 million tons. Their production cost is only more than 20 US dollars, and the profits are huge, but they are still not satisfied.

He said: in order to change this pattern, China's current tasks are: first, increase the supply of domestic iron ore, reduce the dependence on imported minerals, strive to achieve 50% of the iron ore resources and intensify the exploration of iron ore resources. In recent years, the amount of iron ore resources should be doubled, the total amount of resources will be up to 1200 million tons, the total volume of resources will reach 1200 billion tons, the annual iron ore production scale will reach 13 billion tons; two, standardize the order of iron ore imports, joint procurement, unified command, control the investment in iron and steel industry, accelerate the elimination of backward production capacity and reduce the consumption of iron ore; three, expand the scale of overseas mining, and strive for the right amount of imports and exports to reach 3 billion tons.

To build several modern demonstration mines; four, to carry out the national pportation and strive to achieve 50% in 5 years.

Now China's Wuhan Iron and Steel Group has obtained the right to exploit the Liberia mining area, and China Railway Materials Commercial Corp has acquired the 12.5% stake in Sierra Leone iron ore and the right to sell 51 million tons of iron ore resources development products. Overseas CITIC SINO iron mine, Anshan Iron and steel mine, Wuhan Iron and steel mining area and other large open-pit mines have been built abroad.