Shougang Group and Yichang City of Hubei Province signed an agreement on exploitation of a iron mine rich in phosphorous on June 27th, according to the overseas edtion of People's Daily published today. It marks the exploitation program that Shougang has invested 8 billion Yuan begun to put into practice.

The high-phosphorous iron mine is located in west of Hubei Province and was discovered in 1959. Covering an area of 180,000 square kilometers, the iron mine has 2.2 billion tons of huge proved reserves distributed in ten counties and cities of Hubei including Yichang city, Changyang county, Jianshi county and Enshi city.

In the 1970s, attempts were made to exploit the mine. After decades of technical innovation, Shougang Group at first mastered the skills of dephosphorization and now has the capability to develop the high-phosphorous iron mine with Yichang city.

By People's Daily Online