Chinese iron ore miner Hainan Mining Co, a subsidiary of Shanghai-based vertically-integrated company Fosun Group, has signed a medium to long-term partnership agreement with Zhejiang Province-based Ningbo Iron and Steel Co., Ltd (Ningbo Steel).

According to the agreement, Hainan Mining will supply 300,000 mt of iron ore to Ningbo Steel each year.

Hainan Mining is the biggest producer and seller of iron ore in Hainan Province. Last August, Hainan Mining was successfully restructured and became a joint stock limited company. 

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