AnSteel, China’s second biggest steelmaker, is located in Liaoning Province in Northern China.The company currently produces some 37mtpa of steel and has plans to increase production to more than 50Mtpa with major industry rationalisation. AnSteel group companies (after completion of consolidation) include:
- AnSteel 16Mtpa
- Benxi Steel 8Mtpa
- Pangang Steel 8Mtpa
- DongBei Special Steel 5Mtpa
- Sanming Steel 3Mtpa
AnSteel is a strong and supportive partner in the Karara Project and brings some critical elements to its development, including:
- Requirement for long term, strategic supply of high quality ore
- Offtake agreement
- Equity funding
- Project funding
- 90+ years magnetite mining expertise
- Location for 4Mtpa pellet plant, integrated with Bayuquan steel mill
AnSteel is fully committed to the development of Karara, having invested $573m into both Gindalbie and the Project.