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China predicts 10b tons of iron ore reserves in Hebei province
(Xinhua)
Updated: 2009-12-26 16:14
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Exploration work in the eastern region of North China's Hebei province shows potential iron ore reserves in this area is estimated to top 10 billion tons, the China Metallurgical Geology Bureau (CMGB) said Saturday.
A total of 3.44 billion tons of iron ore has been verified in five mines in the province, said Yan Xueyi, director with the CMGB.
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China imported 443.56 million tons of iron ore in 2008, bringing the country's reliance on imported iron ore to around 50 percent.
The country's steel mills suffered an unfavorable position during the annual iron ore pricing talks as overseas miners alliedto ask for a higher price.
