Hebei Iron & Steel Group, China's largest iron plant in terms of output, received a new iron ore reserve of 1.2 billion tons, Shanghai Securities News reported on Tuesday.
The two iron ore fields allocated by the Land and Resources Department of the province are located in Tangshan, with a total potential reserve of 1.2 billion tons.
The Group said the new reserve helps to strengthen its capacity to handle price fluctuation of iron ore.
The Group plans to increase its annual iron output to 50 million tons in 2010.
