According to the news released by People's Daily in Liaoning province, a groundbreaking ceremony was held in Sishanling village yesterday for its new iron ore project, which was financed by JianLong Group.
It is reported that this new mine owns a verified iron ore reserve of 2487 million t and the Jianlong Group will spend 3-5 years to build a new iron ore mine with first rate technologies and facilities.
Meanwhile the overall investment will reach 12 billion yuan and the project will be finished through two stages. The first phased project will be commissioned in 2014, at that time its yearly iron ore concentrate capacity and iron ore processing capacity will come to 5 million t and 15 million t respectively along with the sales income of 6 billion yuan. Besides it is reported that after the completion of its second phased project, its yearly iron ore concentrate capacity and iron ore processing capacity will reach 10 million t and 30 million t respectively with the sales income of 12 billion yuan.
In addition, during the upcoming future the Group will also invest 5 billion yuan to build a vermicular cast iron plant with an annual capacity of 0.5 million t, which will contribute to a further processing for the local iron ore resources as well as the construction of deep iron ore processing zone.