ERG Signs a Letter of Intent for 4 million mt of Iron Ore with a Chinese Steel Company at CIIE

SHANGHAI, Nov 15 (SMM) - Bayi Iron & Steel, Urumqi Land Port International trading Co., and the other four enterprises held a signing ceremony for a project with the investment at 4 billion yuan at the "Wonderful Xinjiang - Investment and Cooperation Promotion Conference for the Core Area of the Silk Road Economic Belt" of the 4th China International Import Expo on November 6.

On behalf of Bayi Steel, Urumqi Land Port International trading Co. signed a letter of intent for cooperation in the supply of 4 million mt of iron ore with Eurasian Resources (ERG).

In recent years, Bayi Iron & Steel has expanded and strengthened its capability by integrating its steel production capacity in Xinjiang, implementing carbon peak and carbon netuality practices, and promoting smart manufacturing. It has maintained a cooperative relationship with ERG for 30 years, and the combined supply of iron ore products has exceeded 30 million mt.