Baosteels (the parent company board) THE vice chai

Baosteels (the parent company board) THE vice chairman whose pic I've posted several times visited CWRN mine ca Dec 2011 when Bao paid for ca 60 k tons of ore before even shipped-before much of it had even trucked.
I figured he didnt leave China for anything less than a JV,which at the time seemed possible with Pres of Bao Brazil supervising the drilling and testing,which I thought extraordinary for a foreign executive despite the Chinese being sticklers for quality testing-
which is in a way ironic because Chinese domestic ore is very poor at ca 15% content and falling (cf CWRN's ore tested 64.5% for iron and 55.42-55.92% for waste fertilizer product)

But you could tell from public comments CWRN wasnt ready to relinquish control just yet after spending 15 years producing a rare successful mining startup.

Bao has been CWRN's main buyer of CWRN's core ore product and Apr 13 2012 PR mentioned possibility of JV benefication plant-something made more possible by Vice Chairs visit-for he didnt imo personally have to visit to just prepay for 60k tons ore-ZHao -Pres of Bao Brazil who is also worldwide procurement mgr, probably was empowered to do something like that-so this is part of unknown possible negotiations going on behind the scenes.  See Bingos comment months ago about the Chinese wanting in-something the Chinese are doing around the world due to their falling ore content,so this is known independent of bingo's comment.

• 
  Xu Lejiang
  Chairman


• 
  Liu Guosheng
  Vice chairman


• 
  He Wenbo
  Director


• 
  Gan Yong
  Outside director


• 
  Wang Xiaoqi
  Outside director


• 
  Buck Pei
  Outside director


• 
  Victor K. Fung
  Outside director


• 
  Wu Yaowen
  Outside director


• 
  Jing Tianliang