MANILA – The Baosteel Resources International Co. Ltd., a wholly-owned subsidiary of China’s largest steel manufacturer, has signed an agreement with Global Ferronickel Holdings, Inc. (FNI) which will supply one million wet metric tons of nickel ore to Baosteel.
The supply will consist of 50 percent low-grade and 50 percent medium-to high-grade nickel ore to be sourced from Cagdianao Nickel Expansion Project in Surigao del Norte of FNI’s operating arm, Platinum Group Metals Corporation.
Delivery is expected at the onset of dry season in April 2020.
Baosteel Resources, a wholly owned subsidiary of China Baowu Steel Group, is engaged in mineral resource investment, trading and logistics. It specializes in the trading of metallurgic raw materials, of which over 60 million tons are being shipped annually.
The company’s product ranges are iron, ore, coal, alloys, non-ferrous metals, ferrous scraps, and metallurgical flux, among others.
To date, Baosteel Resources has over 100 suppliers and 40 clients overseas. With headquarters located in Hong Kong, it has strategic footprints in Southeast Asia and the Pacific as well as in some parts of Africa.(PNA)
