Baoshan Iron & Steel, a subsidiary of state-owned China Baowu Steel Group, expects the Simandou iron ore project to complete infrastructure construction and mine the first cargo by the end of 2025.

The project is anticipated to have an annual production capacity of 120 million tons and will become the world's largest mine for high-grade iron ore. Iron ore is essential for facilitating the green transformation of the global steel value chain.

Baosteel said that the Simandou mine has abundant high-grade resources and favorable mining conditions, so the production cost will be relatively competitive. After Simandou starts production, the company will optimize the ore blending structure.