Chinese steelmaker Pangang Steel Vanadium & Titanium Plant Co a subsidiary of Sichuan Province based Chinese state owned steel producer Panzhihua Iron and Steel announced that its board of directors has approved an agreement according to which in the years 2014 and 2015 its wholly owned subsidiary Anqian Mining Co will supply iron ore concentrate and alloy products to Liaoning Province based Chinese steelmaker Angang Steel Co and its subsidiaries. Based on the agreement in question the supply of raw materials from Anqian Mining to Ansteel and its subsidiaries will not exceed a value of CNY 2.437 billion in 2014 and CNY 3.002 billion in 2015.
