Hainan Mining and Baowu Resources signed a strategic cooperation agreement

Hainan Mining's official WeChat news, on March 7, Hainan Mining and Baowu Resources signed a 2023 strategic cooperation agreement in Shanghai. Hainan Mining Chairman Liu Mingdong, Vice President Yan Qutao, Baowu Resources Senior Vice President Zhu Xuebin, and Vice President Wu Jiang attended the signing ceremony.

According to the strategic cooperation agreement, the two parties will adhere to the principle of "mutual priority". When the supply and demand are unbalanced, the two parties will give priority to ensuring the supply resources or sales channels required by the other party. Hainan Mining will supply 1 million tons of iron and steel to Baowu Resources throughout the year. Ore, including lump ore and fine powder, serves the main iron and steel business and mine production units under China Baowu Group.

Baosteel Resources Holdings (Shanghai) Co., Ltd. is the core wholly-owned subsidiary of Baowu Resources. It has established a close cooperative relationship with Hainan Mining for a long time, and the level of cooperation has been continuously expanded.

At the signing ceremony, Zhu Hailong, Assistant President of Hainan Mining, reviewed the progress since the establishment of the cooperation between the two parties in 2015, and introduced the personalized service measures provided by Hainan Mining for Baowu Resources.

Liu Mingdong introduced the magnetization roasting project and mixed ore business of Hainan Mining. He said that Baowu Resources is an important partner of Hainan Mining. The two parties have been mutually beneficial and win-win for a long time. Strengthen cooperation and jointly resist market risks.

Zhu Xuebin introduced the basic situation of Baowu Resources. He said that Baowu Resources, as a professional platform company of China Baowu in the field of raw material industry chain and supply chain, is the main participating unit of the national iron ore cornerstone plan. Increase the procurement of domestic iron ore, and give priority to the use of Hainan mines in terms of demand.