According to reports, including Angang Group, including five Chinese-funded iron and steel enterprises, recently announced the acquisition of the world's largest niobium company Brazil Mining and Metallurgical Company (CBMM) 15% stake. Zhang Gang, general manager of Anshan Iron and Steel Group, said the transaction is difficult to obtain huge returns in the short term, the acquisition is intended to "long-term investment."
This is China's steel industry to expand overseas a new step.China Niobium Investment Holding Co Ltd, a Chinese steelmaker, set up a $ 1.95 billion overseas acquisition and five Chinese steel mills each accounted for 20% of the investment.Earlier, South Korea's Pohang Iron and Steel and Japan's Nippon Steel also jointly purchased CBMM15% stake.
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