According to report, China's Magang Mining Co., the subsidiary of Ma'anshan Iron & Steel Group (Magang), said it will start mining at Heshangqiao iron ore mine in Auhui province in June. The annual capacity is expected of 5 million tons.
The new mine will lift up the current Magang Mining to 16 million tons a year in crude ore or 5 million tons in concentrate at year.
Magang sees the Heshangqiao deposit will help its dependence on outside suppliers since the mine is estimated with 160 million tons of iron ore resources.
By 2015, Magang mining is expected to supply 10 million tons of concentrates.