Metal Products News
- Valin steel eyes overseas iron ore mines
Date: 25-Apr-2007 Sources: (Shenzhen Daily)
HUNAN Valin Iron and Steel Group wants to invest in iron ore mines overseas, possibly together with partner Arcelor Mittal, the world's largest steelmaker, Valin's top executive said yesterday.
The company would probably fund the investment through its own capital and loans from the China Export-Import Bank, said group chairman Li Xiaowei on the sidelines of a conference organized by Metal Bulletin. He said Valin, China's 10th largest steelmaker, was looking at Brazil, Australia and South Africa. Arcelor Mittal owns a minority stake in Valin's listed arm of about one-third.
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