China Steel Group Invest Over 850 Million U.s. Dollars Of Non– China Steel Group, The Iron Ore

10 morning of 24 and China Steel Group, held a news conference at the headquarters, for the first time made public, “China Steel Group Sustainable Development report on Africa.” This is the first release of Chinese enterprises for sustainable development in Africa report, also released the first domestic enterprise country reports.

China Steel Group, said Wang Wenjun, general manager of Corporate Development, China Steel Group is to operate successfully in Africa for 12 years, the total investment amount of more than 850 million U.S. dollars.

Actively fulfill their social responsibilities In January of this year, China Steel Group has released the first paper to SAC 1 “corporate social responsibility on the central guidance” for the preparation based on “Sustainable Development Report”, and in March this year, officially joined the United Nations “Global Compact organization” (GlobalCompact).

This year in September, Sinosteel president Huang Tianwen invited to participate in United Nations Headquarters in New York, the United Nations Millennium Development Goals, the Forum on China Steel Group Sustainability Report released to promote environmental protection, create jobs, promote economic development in Africa, to eliminate poverty and other aspects of the work carried out to publicize. The report was issued, is the Steel Group to actively carry out the global social responsibility, encourage enterprises to better “go out” the development of another new initiative.

Present the China Steel China Steel Group in Africa, South Africa has a chromium industry companies, China Steel Salman may Chrome Company, China Steel Corporation of South Africa, Zimbabwe, chrome steel industry in the holding company of four subsidiaries, is principally engaged in the development of chromium ore, chromium Iron smelting and related trade. China Steel Group in the local community as far as possible employ local staff, to improve the local employment rate, currently 80% corporate staff are all local residents, providing more than 5,000 jobs.

Overseas acquisitions within our capabilities China Steel Group International Cooperation Deputy General Manager Hong Xu Lu said, China Steel Group, as China’s rapid growth and expansion in recent years, large enterprise groups, in-depth exploration and practice for the development of the modern steel production process of producer services, vigorously implement the strategy for international operations continuously increase the “going out” efforts, overseas business to flourish. The global financial turmoil will not affect the current overseas projects in steel, but for new projects, the steel will be within our capabilities.

Domestic steel and Iron ore price Crash will not affect China Steel Group O “going out” strategy? Wang Wenjun said that despite the current steel prices, Iron ore Prices fall sharply, but the problems encountered in the steel is not serious, it should be said in the controllable range. From now on view in the Midwest steel company acquired 100% stake in Australia should be very worthwhile trade. Back in the mid 80s of last century, the steel in the iron ore project in Australia is just that very successful model. For China, overseas resources to find a long-term development strategy, will determine the direction of impact. Therefore, the resources and products short-term price fluctuations will not affect the long-term development strategy.

Currently, China Steel Group, in Australia, India, Brazil, Europe, Africa, Southeast Asia, with over 20 subsidiaries, covering a wider area, the marketing network all over the world, the breadth and depth of international operations expand rapidly. Meanwhile, China Steel Group established the “Global 500, become an important international influence and strong international competitiveness of large enterprise groups” of the development goals, which is the global corporate social responsibility to fulfill a higher requirement. SABUNG AYAM