Hot-Rolled CoilsTrading of Minerals
The loading of US$ 6.3 million worth of iron ores to the ship from Cliff Resources, Australia, bound to China for HSC Resources Limited,Hong Kong.
The Group's wholly owned Singapore subsidiary, Sapphire Mineral Resources Pte Ltd ("SMR"), procures strategic minerals as raw materials for our steel group and for a growing network of customers in China. SMR currently has a mandate to procure about 2 million tonnes of iron ore annually for our China partners.
In tandem with PRC's rapid industrialisation, the Group expects demand for strategic mineral resources to grow in the coming years.
SMR has supply network in Australia, Brazil, India, Indonesia, and Venezuela and will continue to actively expand our trading partners.