FMG to enlarge cooperation scale with Chinese enterprises

Mr Li Xiaowei Board Chairman of Hunan Valin Iron and Steel Group Co Ltd as saying that, Australia FMG was expected to further enlarge the cooperation with Chinese enterprises with the 0.12 billion tonnes iron ore supplying capacities to be formed in the future.

Mr Li said FMG has recently talked with CISA, Baosteel and Valin Group etc and concluded an agreement after the negotiation in terms of scale expansion. The related governments agreed to provide supports. To the financing problems, there are some banks expressing to ensure the capital supports.

As per report, before this Mr Wen Jiabao Chinese Premier said the enterprises should pick up the going out policy. And Mr Miao Wei vice minister of MIIT emphasized that the enterprises should put more efforts on the mine explorations both at home and abroad in next stage.

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