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BEIJING—China plans to create a conglomerate of iron-ore mining giants that would in 10 years produce at least half of its domestic ore, in a bid to end its steelmaking industry's dependence on imports of the material.
The government intends to form a large mining group to be led by Ansteel Mining Co., a state-backed company that is the country's largest ore producer. The new group would comprise six to eight mining businesses.
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