Qinghai Province-based Chinese company Qinghua Mining, Smelting and Coking Group Co. has announced that its new iron ore pelletizing plant in Geermu in Qinghai has commenced production.
The pelletizing plant, built with a total investment of RMB 346.5 million ($56 million), is expected to achieve annual sales revenue of RMB 1.26 billion ($204 million). The designed annual output of the plant is 1.2 million mt of iron ore pellets.
The pelletizing plant is the first completed part of Qinghua Mining, Smelting and Coking Group's integrated iron and steel production project.
The overall project in question will include an iron and steel plant, a high-speed wire rod plant, a rebar plant and a power supply plant. Investment in the project is expected to total RMB 10.2 billion ($1.6 billion), while annual sales revenue upon completion is expected to reach RMB 10 billion ($1.6 billion).