Zongshen Group to acquire iron ore deposit in Vietnam

Chongqing Economic Times reported that ChongQing ZongShen Group is discussing with Viet Nam for building 300,000 tonnes per year of pig iron smelting plant in a province of the Southeast Asian country with an estimated investment of CNY 800 million.

President of ChongQing ZongShen said that “He would win a big iron mine with a scale of about 100 million tonnes in Viet Nam and open a developing and mining company there.”

He added that “Meanwhile, a 300,000 tonnes per year pig iron smelting plant will be set up along with a 3 million tonnes per year iron concentrate mill in another province of the country.”

According to the report, these projects are reportedly to be clinched soon and start construction as soon as fixed.