Anhui Province-based Chinese steelmaker Masteel announced that its Luohe iron mine construction project has made some progress. So far, the installation of the production equipment in the mine has been completed. These equipments are expected to come into operation in March next year.
The project, which involves an investment of RMB 1.56 billion ($0. 24 billion) in total, plans to mine 3.00 million mt per year of crude ore, and produce 983,100 mt per year of concentrates containing 66% iron.