Baosteel agrees on coal partnership

Baosteel Resources, a wholly-owned mining, trade and logistic services subsidiary of Baosteel Group, and Hebei-based Jizhong Energy Fengfeng Group have signed a framework agreement to jointly develop a new coal mine in the west of Cixian County, Handan. The mine, bounded on the east by the Jiulong Coalmine also owned by Fengfeng has an estimated reserve of 1.53 billion tons. Baosteel Resources referred to the cooperation as part of its worldwide allocation of mineral resources.