Hebei secures iron ore through $194 million investment in Alderon

China’s biggest steelmaker, Hebei Iron & Steel, has agreed to invest in Canada’s Alderon Iron Ore and secures a 15-year off-take agreement.

Hebei secures iron ore through $194 million investment in Alderon
At 30.3% iron, Alderon estimates Kami's resources at 598 million tonnes

In its first significant overseas investment, Hebei Iron Steel, China’s biggest steelmaker, is set to spend $194 million on a deal with Alderon Iron Ore that will help to secure supplies of its main raw material.

Hebei said on Friday that it had agreed to pay $88.3 million for a 19.9% equity stake in Alderon and that it would invest $105.7 million in Alderon’s iron ore project, which will earn the Chinese company the right...

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