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  1. Business - Companies

    China’s Ansteel to take control of Australia iron ore mine

    Posted Jun 11th 2013, 12:57pm by Reuters

    ... Reuters in Sydney China’s state-owned Anshan Iron and Steel Group Corp has agreed to take a majority stake in the Karara iron ore project in Western Australia, shoring up joint-venture partner Gindalbie Metals after setbacks at the project. The deal will eliminate the need for Gindalbie to pursue an impending equity raising and allows it hold on to A$35 million (HK$256.4 ...

  2. Maanshan profits decline 48pc after product prices fall

    Posted Aug 02nd 2006, 12:00am by Eric Ng

    ... Eric Ng Maanshan Iron & Steel posted a 48.75 per cent year-on-year drop in net profit to 1.09 billion yuan in the first half of this year, hurt by sharp falls in product prices last year despite a marked recovery in the second quarter this year. Outpu ...

  3. Chemical plant blast kills at least 14

    Posted Jun 18th 2006, 12:00am by Minnie Chan

    ... Minnie Chan An explosion at an Anhui chemical plant has killed at least 14 people and injured 30, official media said yesterday. However, villagers who live nearby said the casualty toll could be higher. It was unclear how many people were at the plant in ...

  4. Chief takes relaxed view of polls slump

    Posted Jul 26th 2008, 12:00am by Paggie Leung

    ... Paggie Leung The chief executive said yesterday he would remain positive whether his approval rating rose or fell. 'To me, if my popularity goes up or down, it spurs me on differently,' Donald Tsang Yam-kuen said in Anshan . According to a Chinese University poll released on Thursday, the chief executive's approval rating had fallen to an average of 57.4 out ...

  5. Housing a bonus, but also holds risks for steelmakers

    Posted May 01st 2006, 12:00am by Raymond Li

    ... Raymond Li Li jianshe, steel industry executive Over the past 14 years, Hong Kong-listed Maanshan Iron and Steel Co has cranked up its production by nearly five times to 9.75 million tonnes in response to a surge in fixed-asset investment, especially in t ...

  6. News - China

    Guangdong's Zhanjiang targets doubling of GDP by 2017

    Posted Jan 30th 2013, 12:00am by Mimi Lau

    ... with the threat of turning the beautiful coastal city into another notoriously polluted industrial city on the mainland, similar to Anshan in Liaoning , Panzhihua in Sichuan and Tongling in Anhui ...

  7. Baosteel may acquire rival Panzhihua Steel

    Posted Jul 28th 2008, 12:00am by Carol Chan

    ... and Steel Association as saying. News of the planned acquisition will be a shock to Liaoning-based Anshan Iron & Steel and Hubei-based Wuhan & Iron Steel, both under the control of Sasac, as they have long been interested in a merger with Panzhihua Steel. Anshan Steel promised in May to provide funds to support Panzhihua Steel's listing plan, which included injecting its production ...

  8. Sticking points still plague Ansteel-Bengang union

    Posted May 19th 2008, 12:00am by Carol Chan

    ... Carol Chan How long can merger negotiations last? As long as a decade, as illustrated by the lengthy talks between state-owned steelmakers Anshan Iron & Steel Group (Ansteel) and Benxi ... The possibility of a merger between Anshan-based Ansteel and Benxi-based Bengang, both in Liaoning province, emerged as early as 1997, but the first hurdle was the low profitability of the steel industry ...

  9. Wugang acquisition given green light

    Posted Jan 04th 2005, 12:00am by Eric Ng

    ... of an internal restructuring to streamline the company and reduce intra-group competition and connected transactions. Rivals Shanghai Baosteel Group and Anshan Iron and Steel Group are undergoing similar ... it the nation's second-largest steel producer, behind Shanghai Baosteel Group and ahead of Anshan. Wugang is also in merger talks with Chongqing Iron and Steel and Zhejiang province-based Hangzhou Iron ...

  10. Cases now being probed by the Ministry of Supervision

    Posted Jul 12th 2004, 12:00am by Staff Reporter

    ... Kongxing and his wife, Wang Ping, have been arrested. Improper lending by the Shanghai branch of the Bank of China. Former vice-chairman Liu Jinbao is being investigated. Ex-director of the Anshan ...




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