A reminder of the main buyer of CWRN's regular iron products- Bao Steel Brazil and USA-wholly owned subs of parent Bao Steel China (whose vice chair of BOD visited CWRN also ca Nov 2011) have visited the mine quite a bit and also visited other CWRN concessions as shown in pics

the 45000 tons ore at port is presumably going to Bao

Shanghai Baosteel Group Corporation
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Type	Government Owned
Traded as	SSE : 600019
Industry	Steel
Founded	1978
Headquarters	Shanghai , China
Key people	Xu Lejiang ( Chairman )
Products	Steel, flat steel products, long steel products, wire products , plates
Revenue	US$ 21.7 billion (2009)
Employees	108,914
Subsidiaries	Baosteel Group Finance Co. Fortune Trust & Investment Co. Shanghai Baosteel Engineering & Equipment Co. Shanghai Baosight Software Co. Shanghai Baosteel Chemical Co. Shanghai Baosteel Business Development Co. Baosteel Group Enterprise Development Co.
Website	www.baosteel.com
References: [1] [2]

Shanghai Baosteel Group Corporation ( SSE : 600019 ), commonly referred to as Baosteel is a state-owned iron and steel company headquartered in the Bao Steel Tower in Pudong , Shanghai , China. ^[3]

Baosteel is the second-largest steel producer in the world measured by crude steel output (after ArcelorMittal ), with an annual output of around 20 million tons (China's total steel production in 2006 was 381.5 million tons). ^[4] It employs around 109,000 employees, has annual revenues of around $21.5 billion and produces a mix of high-quality products. ^[5]

Baosteel's IPO on the Shanghai Stock Exchange in 2000 was the largest in China up to that time, raising CNY 7.7 billion despite being limited to domestic investors only.

History

Beginning in 1978, the Chinese government began to institute economic reforms. Plans called for a large integrated steel production facility to be located near the port of Shanghai . The Baoshan District , a suburb of Shanghai, was chosen as the site and Japanese assistance was enlisted in constructing one of the most modern steel plants of the time. As the government's flagship steel company, Baoshan Iron and Steel as it was originally called, benefitted from acquiring the best engineers and managers, access to cutting edge technology, and receiving hefty government contracts.

Baoshan Iron and Steel also benefitted from the breakneck pace of Chinese economic expansion which ravenously consumed all the steel available. However, with the continuing liberalization of the Chinese economy, Baoshan found itself in competition with new rivals, both foreign and domestic. The company decided to add an export trade marketing component to remain competitive; it scored notable success in South Korea . Although hurt by the Asian financial crisis , Baoshan pushed through with a merger of other money losing state owned enterprises, though it had managed to remain profitable itself. On November 17, 1998, the former Baoshan Iron and Steel (Group) Corporation absorbed the Shanghai Metallurgical Holding Group Corporation (??????????) and the Shanghai Meishan Group Co. (????????) to form Shanghai Baosteel Group Corporation . The new conglomerate was the largest steel producer in the country with annual steel production of nearly 20 million tons.

Baosteel also found partnerships with former domestic rivals in the Shougang Group and Wuhan Iron and Steel Group Corporation , entering into an alliance in 2001. In the same year Baosteel signed an agreement with ThyssenKrupp of Germany .

The company has ambitious plans for expansion, currently constructing a state-of-the-art facility in Zhanjiang , Guangdong , at the cost of $10 billion; it is expected to come into production by the end of the decade. Baosteel also intends on launching an IPO , likely in Hong Kong , on top of its current listing on the Shanghai Stock Exchange .