Fushun Xingzhou Mining Co., Ltd.

Fushun Xingzhou Mine Co., Ltd, located in Dongzhou district, Fushun City, Liaoning Province, is one of the main mining sites under the share holding investment of the Mining Corporation. The mine was founded in 2003, total assets of 8 million yuan with 100 employees. The mining is mainly by big mechanized machines in the underground mining sites. The type of ore is amphibole - the transition of quartz-magnetite. The average ore grade is 23%. The ore reserve at the site is 93.91 million tons. After the completion of share holding system reform by the Mining Corporation in June 2008, the production quantity is adjusted, expecting to have 2 million tons of iron ore and 500,000 tons of fine iron powder by the end of 2010. The average quality of the fine iron powder is 66%.