Baowu Steel
China Baowu plans to invest about $1 billion in the development of Simandou

The company raised $1.4 billion by issuing three-year bonds. 70% of the capital is invested in an iron ore project in Guinea
China’s regulator has approved Baowu’s takeover of Shangang

The annual capacity of Shangang steel smelting is more than 30 million tons per year
Baowu Steel received steel production limitation indicators

The market expects that this will soon affect other steel mills
China’s Baowu Group became the largest steel producer in 2022

Last year, the company increased steel production by 1% y/y
Baowu Steel seeks to expand cooperation with Australia

Major iron ore producers are interested in the proposal of the Chinese company
Xinyu Steel will install two new blast furnaces at its Jiangxi plant

The total capacity of the new blast furnaces will be approximately 4.4 million tons per year
China’s Baowu Steel seeks to expand ties with Rio Tinto

In 2022, the companies created a joint venture to develop the Western Range project
Major Asian steelmakers reported a decline in revenues in the third quarter

Baowu Steel and CSC expect steel demand to remain weak in Q4 2022

Baowu Steel is teaming up with a Singaporean consortium to develop the Simandu project

The Chinese company is already involved in the development of the southern part of the deposit

China Baowu Steel acquired 51% shares of major steelproducer XinSteel

The deal amounted to 4.26 billion yuan ($630 million)