WISCO receives first iron ore shipment from MMX

A cargo of 162,000 tons of iron ore concentrates was discharged at the Beilun Port, Ningbo on August 8, marking the first shipment of iron ore received by WISCO from Brazil's EBX Group under an agreed treaty between the two sides struck on November 30, 2009. Besides, WISCO expects to receive another 160,000 tons of iron ore from Canadian miner Consolidated Thompson Iron Ore Mines Ltd (CLM) in early September. In July 2009, WISCO purchased 45.20 million shares of CLM for a total of US$240 million, becoming the largest shareholder in CLM. The mill intends to achieve its self-sufficiency in iron ore supply within three to five years.