[Ferro-Alloys.com] 

China Baowu completes purchases of stake at Simandou project

China Baowu Steel Group has completed its purchase of a stake in the Simandou project in Guinea, as China’s top steelmaker looks to expand its interest in the world’s largest untapped iron ore mine.

Simandou has some of the world’s richest deposits of iron ore, used to make steel in blast furnaces, but its development has been stymied for years by disputes over ownership and the mine’s infrastructure, as well as by political changes in the West African country.

• [Editor:邢亚敏]