Hainan Mining in south China’s Hainan province intends to produce 3.6 million mt of iron ore lumps and concentrates for 2015, down 8.8% year on year, according to the company’s annual report released Tuesday. The Shanghai Stock Exchange-listed company owns iron ore deposits totaling 446 million mt, with ferrous content averaging as high as 49.15%. “Hainan Mining’s [planned] output decline this year has little to do with poor domestic market sentiment or piling inventories, but because the company is in the process of shifting to underground from open-pit mining,” a source close to the company said.
展开▼
