On January 23, Hebei Province-based Chinese steelmaker Hebei Iron and Steel Group announced that in 2012 its subsidiary Hebei Iron and Steel Group Mining Co. produced 7.22 million mt of iron ore concentrate, up 2.11 percent year on year. In addition, last year Hebei Steel Mining Co's sales of iron ore concentrate amounted to 8.03 million mt, with a sales-output ratio of 111 percent. The sales revenue of Hebei Steel Mining in 2012 amounted to RMB 7.2 billion ($1.15 billion), while it recorded a gross profit of RMB 1.008 billion ($161.5 million) - thereby ranking first in Hebei Steel Group in terms of gross profit. In 2013, Hebei Steel Mining Co. plans to produce 7.3 million mt iron ore concentrate.