The picture is about signing ceremony. Photoed by Wang Xuhong
On July 26, TISCO Group and China Nonferrous Metal Mining Corporation (CNMC) signed a Collaboration Agreement formally in Beijing, for co-investment and development of Burma Dagongshan nickel resources. This is another major achievement for overseas resource strategy after successful implementation of Turkey CVK chromium mineral resources project in 2009, which accelerating "Three Transformations", and speeding up principal business development, diverse development and extending development for TISCO Group.
People who attending the signing ceremony are: Mr. Wu Jianchang, former Vice Minister of Metallurgy Department, former President of China National Nonferrous Metals Industry Corporation, General Consultant of China Iron &Steel Association; Mr. Kang Yi, Chairman of China Nonferrous Metals Industry Association; President Luo Tao, Secretary of the Party Committee Zhang Keli and etc. from CNMC; Chairman Li Xiaobo, President Hu Yuting, Chief Accountant ZhouYizhou, Deputy Director of Planning Committee of Board of Directors Lin Qicen and etc. from TISCO.
On behalf of China Iron &Steel Association, China National Nonferrous Metals Industry Corporation respectively, Mr. Wu Jianchang and Mr. Kang Yi sent warm congratulations to the successful signing of TISCO Group and CNMC Group. They pointed out, TISCO Group and CNMC Group are typical enterprises with fast and sound development in Chinese steel industry, the cooperation on this project is a successful example of the cooperation between Chinese nonferrous enterprise and steel enterprise, they hope by the cooperation, both parties can play an active role in relieving tension of Chinese mineral resources, in developing Chinese stainless steel industry and non-ferrous metal industry and in promoting the friendship between China and Buema.
Mr. Li Xiaobo made a speech in signing ceremony. He said: CNMC Group has long-term committed to the exploitation of Chinese shortage of nonferrous metal resources on a global scale and accumulated rich experience in use of overseas resources. TISCO is speeding up the construction of the most competitive stainless steel enterprises in the world. The signing of the agreement marks that the cooperation has entered a new stage. He hopes both parties can strengthen the cooperation, make sure the project complete on schedule with full ability and profit, realize expected income on investment, and set an example for further more extensive cooperation.
President Luo Tao said in his speech, CNMC Group will give full play to its own advantages, actively cooperate with TISCO Group to do well in the Dagongshan nickel ore project in Burma, devote to make Chinese stainless steel industry and non-ferrous metal industry bigger and stronger, and set a model of friendly cooperation between central enterprise and local enterprise.
Mr. Hu Yuting and Mr. Luo Tao, on behalf of each party, respectively signed in the cooperation agreement.
According to the agreement, TISCO Group will increase capital and expand shares to CNMC Group Nickel Industry Co. Ltd., after capital increase, the company name will change to CNMC-TISCO Nickel Industry Co., Ltd.. CNMC-TISCO Nickel Industry Co., Ltd. will broadly develop and use overseas mineral resources, make great efforts to develop a trans-regional, multi-industry and multinational management modern enterprise with nickel and other non-ferrous metal development at home and abroad as major works and bilateral trade simultaneously. This is reaching far importance for TISCO Group to built a stable, reliable and low cost strategic supply chain of nickel resources, enhance guarantee ability and control ability of strategic resources and strengthen the competitiveness of stainless steel; meanwhile, it will greatly alleviate the shortage of resources in nickel, effectively defuse the stainless steel enterprises operational risk caused by nickel price fluctuation, therefore, to improve profitability, ensure industrial security and promote the sustainable development of stainless steel industry.
Nickel is the most important raw material for stainless steel production, its cost accounts for more than 70% of stainless steel production cost. Nickel belongs to the global strategic resource scarcity, in China it also has a great shortage, and the output can only meet about 30% of domestic production needs. As the largest stainless steel production enterprise, TISCO needs over 10 tons nickel metal per year. With notable features such as good resource conditions, high grade ore, advanced technology, low production cost, good comprehensive benefits and so on, Burma Dagongshan nickel development project has strong competitiveness and good development prospect. High grade nickel ore capacity of the project is more than 30,000,000 tons, nickel metal 700,000 tons, and after the completion the annual production of ferro-nickel will be 85,000 tons. As a "going out" resource strategy investment project, it is get a great support from related national ministries. At present, project construction runs smoothly, construction of mining, smelting, wharf, service area, etc. are stepping up, which can put into production in next year.
Related News
- TISCO Team Participating in "Vietnam International Steel and Metal Processing Exhibition" of 2010(picture)
- TISCO - Demonstration Enterprise of Recycling Economy Energy Conservation and Emission Reduction among the Metallurgical Industry(picture)
- The Largest Diameter Stainless Steel Seamless Tube with the Same Machine Type Was Born In TISCO (Picture)
- Playing the Supporting and Leading Roles of Science and Technology Innovation to Perfection
Photos
More>>
trade
market
finance
- Baosteel Employees Donate RMB One Million to Tsunami Victims
- Baosteel Donates 20 Million Yuan to Shanghai Charity Foundation
- Kong Liming Honored Among the Top Ten News Figures in Science and Technology
- Baosteel-NSC Arcelor Automotive Steel Sheets Co. Ltd. Established
- Baosteel Group Shanghai No. 1 Iron and Steel Co., Ltd. Kicks Off Stainless Steel