BEIJING, Apr. 1 -- China, whose iron ore output in 2009 was 880 million tons, is expected to produce 1 billion tons this year, said Li Xinchuang, president of China Metallurgical Industry Planning and Research Institute.
The country's output of steel is expected to reach 625 million tons in 2010, said Li at the China Iron Ore 2010 Conference held on Tuesday.
Wu Rongqing, chief engineer of the China Mining Association, said that the fixed-asset investment in the ferrous metals mining sector has seen rapid growth in recent years and hit RMB 42.72 billion in 2007, an amount 8.5 times of 2003.
The country's iron ore output swelled from 260 million tons in 2003 to 880 million tons in 2009, said an officer of China's Ministry of Land and Resources.
At present, the designed iron ore capacity of the new projects under construction and planning in China is 480 million tons per year. However, the country still relies heavily on imports of the metal.