Corporate Overview

Sinosteel Australia Pty Ltd is a subsidiary of Sinosteel Corporation based in Beijing, which is one of China's largest state owned enterprises.  Sinosteel Corporation is involved in developing and processing of metallurgical mineral resources, trading and logistics of metallurgical raw materials and products, related engineering technical services and equipment manufacturing.  There are 86 subsidiaries under the administration of Sinosteel Corporation, 63 are in China and 23 abroad. Sinosteel Corporation has a clearly-defined core business that integrates resource development, trade and logistics, project engineering and science and technology. It provides a comprehensive auxiliary service and system integrated service for steel mills and the steel industry.  In 2009, the core businesses revenue of Sinosteel reached RMB 164 billion, ranking the 352nd of World Top 500 according to the 2010 Fortune’s list.  It has successfully established iron ore and chrome ore resource bases in Australia and South Africa.  www.sinosteel.com

It is a raw material supplier and sales-agent for major Chinese steel mills, some of which Sinosteel has entered into long-term strategic partnerships with. It is among the leading traders in China for iron ore, chrome ore, DRI, fluorspar, coke, manganese ore, scrap, steel products, magnetite and rare earths.

Sinosteel Australia Pty Ltd first became actively involved in Australian resources sector with the signing of the Channar Mining Joint Venture agreement in 1987. The Channar Mining Joint Venture Project is a Joint Venture between Sinosteel Channar Pty Ltd (40%), a wholly owned subsidiary of Sinosteel Australia Pty Ltd and Hamersley Iron Pty Ltd (60%). This project was one of the largest Chinese overseas investment projects at the time of commencement.

During December 2010 Sinosteel Australia and Rio Tinto announced the extention of the Channar Mining Joint Venture (CJV) this will allow for a further 50 million tonnes of iron ore to be produced under the ground breaking joint venture.