Anshan iron and steel after respectively in July 2011 and December 2011 promised to investors, "if the material assets reorganization after the completion of the 2011, 2012, 2012, three years into the saddle thousand carrara mining and 50% stake in the actual total earnings amounted to Q235 seamless carbon steel pipe less than predicted total net profit of 2.25 billion yuan, the anshan iron and steel company of panzhihua vanadium titanium to cash compensation".
Report, the company said it will be at the end of the year 2013 to hire accounting firms with qualification for business in 2012 and 2013 and 2011, the annual saddle thousand carrara mining and 50% stake in the actual total profit and forecast the difference between the astm a234 seamless carbon steel tee total net profit to issue special audit opinion.
In addition, the report also said that carrara iron ore project in April 2013, from construction to commissioning operation periods such as depth of full tailings recycling project progress smoothly, baima ore expansion, such as vanadium nitride alloy expansion project steady progress. Company also announced, to support the carrara mining co., LTD. (hereinafter referred to as the "carrara") iron ore production after the short radius 90 degree elbow completion of the project development, carrara two shareholders - the company is a wholly owned subsidiary company and a wholly owned subsidiary of anshan saddle Australia shares of stock in the Hong Kong company in proportion to gindalbie metals co., LTD. Will provide 10-year interest-free loan to carrara, borrowing is expected to total $100 million.
Huatai securities, said the carrara mining will become the company's performance this year important contribution to the point. Carrara magnetite ore has proved reserves of 2.518 billion tons, annual production 8 million tons of high grade iron concentrate of concentrator.
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