Abstract By creating well-structured plans and developing a clear and detailed "road map," the industry can be standardized and guided toward sustainable growth. This will enhance industrial concentration, strengthen China's voice in global mining markets, and ensure the strategic security of raw material supply for the steel sector.
On March 18th, the preparation of China’s first “Medium- and Long-Term Development Plan for the Iron Ore Industry†officially began in Beijing. Organized by the Ministry of Industry and Information Technology and the China Metallurgical Mine Association, this initiative is led by Angang Mining Co., Ltd. The plan will cover the overall development strategy, specialized plans, and key regional strategies, based on the current state of the iron ore industry. It aims to shape a 10-year blueprint from 2016 to 2025, addressing the critical issue of China’s heavy reliance on imported iron ore.
China possesses over 70 billion tons of iron ore resources, yet its import dependency remains as high as 70%. Over the past decade, Chinese steel companies have spent more than 2 trillion yuan on raw materials due to high pricing, which has significantly eroded their profits. In 2013, the profit margin for large steel enterprises was only 0.55%, and when considering investment returns, many were actually operating at a loss. One of the main reasons behind these challenges is the underdeveloped domestic iron ore industry and its heavy reliance on imports. With global resource competition intensifying, it has become crucial to strengthen domestic mine planning and establish a strategic safety system for iron ore supply.
According to Shao Anlin, head of the planning team and vice general manager of Anshan Iron and Steel Group, current domestic mining companies are small, scattered, and inefficient, leading to low resource utilization and high production costs. This has resulted in poor protection of iron ore resources and serious environmental issues. As a result, they struggle to meet the needs of national economic development and ensure the strategic security of steel raw materials. A comprehensive, integrated approach at a strategic level is essential to improve the performance of metallurgical mining enterprises.
Leading enterprises like Angang Mining have played a significant role in shaping the future of the industry. Since implementing its development strategy, Angang has built a smart mining system and accumulated over 35 billion yuan in profits since 2008, while paying 18.2 billion yuan in taxes. Today, it stands as a top-tier metallurgical mining company with a complete industrial chain, ranking first in controlled resources, second in mining volume, and fifth in iron ore output globally. Its achievements demonstrate the potential for China to build world-class mining enterprises.
The launch of this development plan holds great significance. At the national level, it provides a clear roadmap for the mining industry, promoting standardization and guiding progress. This will increase the industry’s contribution to the national economy. From an industry perspective, it helps counter the dominance of foreign mining giants, promotes resource integration, and enhances China’s competitiveness in the global market. For individual companies, it drives management improvements, technological innovation, and green development, boosting long-term competitiveness.
Experts and scholars are optimistic about the plan’s implementation. They believe it will mark a turning point, elevating iron ore resources to a national priority. This could lead to the emergence of world-class Chinese mining companies that combine scale and innovation, serving as a strong response to foreign monopolies and reshaping the global mining landscape.Steel Wire Reinforced UHMWPE Pipe
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