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Print[Ferro-Alloys.com]Shandong Steel Group is taking six measures to control steelmaking resources:
1. To highly emphasize resources acquisition. It has conducted evaluation onto 40 mines, and finally fixes its eye on Sierra Leone-based Tonkolili mine
2. To improve the construction of domestic owned mines. It speeds up the construction of Shandong based Dongping Pengji Mine, Xinjiang based Qiaopuka Mine etc
3. To raise fund from its listed Jinling Mining Company in order to secure money supply to its operation
4. To manage the risk of investment into domestic and overseas mining deposits
5. To strengthen the control on production cost in a bid to fight against industry volatility
6. To consolidate groups' mining assets
At the end of 12 five years,iron ore self sufficiency rate of Shandong Steel Group will be over 40% and coking coal self sufficiency will overtop 30%.
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