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About Sinosteel Corporation

Sinosteel is an internationally regarded Chinese corporation. It is a central enterprise under the administration of the State-Owned-Asset Supervision and Administration Commission and one of China’s largest and most influential companies with assets exceeding $US50billion.
 
The corporation is active in the development, mining, and processing of metallurgical mineral resources, trading research, and logistics. It has a global sales network and logistics system.
 
In 2008, Midwest Corporation was 100% acquired by Sinosteel Corporation.
 
The support and investment of Sinosteel is not only good for Sinosteel Midwest, it is positive for the region, the State and Australia – Sinosteel can support and back Sinosteel Midwest’s growth, which has flow-on benefits for the broader community.
 
Sinosteel has had a long and successful presence in Western Australia of more than 20 years, through its Channar Joint Venture with Rio Tinto’s Hammersley Iron, near Paraburdoo. This is an 11 million tonne per annum iron ore project, and employs more than 200 people. Like the proposal for Sinosteel Midwest’s Koolanooka/Blue Hills project, workers on this project predominantly live near the mine site and contribute to the local community.
Over the life of the Channar Project, more than 160 million tonnes of iron ore has been produced, resulting in royalties of approximately $305 million to the state of Western Australia.
 
The Channar Joint Venture demonstrates that Sinosteel is a long-term and proven investor, operator, and community member in Western Australia, and will bring to the Koolanooka/Blue Hills project and the Mid West region a long-term approach to sustainable mining.
 
Sinosteel brings expertise and exceptional market contacts and opportunities to Sinosteel Midwest’s business, and cements the company’s place as a major exporter and developer of mining projects in Western Australia.
 
Sinosteel’s investment in Sinosteel Midwest has been considered and approved federally by the Foreign Investment Review Board (FIRB). Under the Federal Treasurer, the FIRB has supported Sinosteel’s involvement and will continue to ensure that any further such investments remains in the national interest. Under this process, Sinosteel has affirmed its commitment to all Australian legal and regulatory requirements.
 

To download a fact sheet about Sinosteel Corporation, click here.

 

For further information on Sinosteel Corporation, please see its english language website at en.sinosteel.com.