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China Said to Development Iron Mine in Siberia, Russia
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- Abstract:
China is reported to make a huge investment in development of the Kimkan iron mine in Siberia, Russia, so as to reduce its excessive dependence on the iron ore imported from Australia and Brazil in the near future. Sources say that a syndicate led by Industrial and Commercial Bank of China (ICBC; SHSE: 601398; SEHK: 1398), one of the world's most profitable lenders, will finance this potential deal, but the Beijing-located commercial bank has not made any response to related reports yet...
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