Angang and Vale jointly establish pellet project with 1.2mln tons

October 27 MetalBiz--A few days ago, Angang Group and Vale singed a contract on setting up 1.2mln tons of pellet project by joint venture.

It is reported that the investment in the project totaled 625mln yuan. It adopts the advanced equipment and technology in home and abroad and is an important project for Angang to carry out JV cooperation, extend industrial chain and build long-term cooperative partnership.

Vale is the world's largest iron ore manufacturer and exporter as well as the largest mining company in mainland of America. In 2001, Angang and Vale started to cooperate. In 2005, Angang and Vale concluded the long-term agreement for iron ore supply, becoming one of strategic partners of Vale. In the past eight years, the iron ore from Vale to Angang increased by more than 4 times.

The reporters also learned that in Q3, Angang Group produced 182.3868mln tons of wind tower plate accumulatively which is used for wind power generation equipment, and all of them was exported to European countries.