Huahonggou iron ore exploration project breaks ground in Liaoning

On April 10, the Huahonggou iron ore exploration project in Benxi, Liaoning, officially broke ground, with drilling operations now fully underway. The project involves a total investment of RMB11 billion (USD1.61 billion) and is designed to deliver an annual output of 15-20 million tonnes of iron ore.

Covering an area of 12.38 sq km, the Huahonggou deposit hosts inferred resources of 1.9 billion tonnes, classifying it as an ultra-large, deep-seated iron ore deposit with strong resource potential. In October 2025, Minmetals Mining Holdings Co., Ltd., a subsidiary of China Minmetals Corporation, secured the exploration rights for RMB2.36 billion (USD345 million). This was followed by the establishment of Minmetals Century Mining (Benxi) Co., Ltd. in November 2025 to operate the project. The company obtained its exploration license and real estate title certificate in February 2026, with project approval completed in March 2026.

Once operational, the project is expected to strengthen raw material supply for local steelmakers, enhance the integrated "iron ore-steelmaking-deep processing" industrial chain, and generate sustained employment and income growth in the region.