On July 19, 2022, China Mineral Resources Group was officially established with a registered capital of 20 billion yuan. Its business includes mineral resource mining and metal ore sales. The group is registered in Xiongan New Area, with Yao Lin as the legal representative and Guo Bin as the general manager.

As a newly established state-owned enterprise, the executive lineup of China Mineral Resources Group is eye-catching. Yao Lin became the chairman of China Mineral Resources Group. According to the official website of Aluminum Corporation of China, Yao Lin is the chairman of Aluminum Corporation of China. Guo Bin is the director and general manager of China Mineral Resources Group. According to the official website of China Baowu, Guo Bin is the deputy general manager of China Baowu Iron and Steel Group Co., Ltd. In addition, Shao Anlin and Gao Xiaoyu are the deputy general managers of China Mineral Resources Group, and Gao Gao is the director. According to the data, Shao Anlin is the deputy general manager of Ansteel Group, Gao Xiaoyu was the CEO and executive director of Minmetals Resources, and Gao Gao was the deputy secretary-general of the National Development and Reform Commission.

China Mineral Resources Group is expected to make efforts in various aspects such as the procurement of imported iron ore, the development of domestic iron resources, and the development of overseas equity mines, to enhance my country's iron ore supply guarantee capability and make up for the shortcomings of the iron and steel industry chain resources.

The business scope of China Mineral Resources Group includes: mineral resource mining, mineral processing, mineral washing and processing, metal ore sales, procurement agency services, import and export of goods, import and export agency, international freight forwarding agency, domestic freight forwarding agency, etc.

The supply of iron resources controlled by China is insufficient, and it is highly dependent on imported mines. A research report by the China Iron and Steel Association shows that China's iron ore dependence has remained above 80% for many years, and the four major international mining companies control about 70% of the world's supply.

For a long time, the purchase of imported iron ore in China's steel industry has been extremely passive. The report provided by the Metallurgical Industry Planning and Research Institute shows that due to the high concentration of iron ore supply, iron ore pricing ranging from negotiated pricing, quarterly pricing to index pricing is dominated by sellers, and China has no say in iron ore pricing. The passive situation has not been effectively changed.

The cornerstone plan proposed by the China Iron and Steel Association aims to change the source composition of China's iron resources in 10 to 15 years, and fundamentally make up for the shortcomings of the iron and steel industry chain resources. Fan Tiejun, president of the Metallurgical Industry Planning and Research Institute, previously stated that the cornerstone plan has two major implementation entities, one is the iron and steel enterprise group or a consortium led by it, and the other is the development, investment and operation of metal resources as the main business and has national metal resources guarantee. The mission of an international metal mining group.

According to industry speculation, this newly established mining giant is expected to become a platform for integrating domestic iron ore demand, and to a certain extent, coordinate the procurement of imported iron ore and other links to improve China's iron ore pricing power. In addition, the establishment of China Mineral Resources Group is also conducive to promoting the investment and development of overseas projects and increasing the proportion of overseas equity mines. Editor / Zhao E