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China Baowu Group international industrial expansion

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2026-09-05 17:50 UTC → 2026-09-07 01:44 UTC · added ~~removed~~

China Baowu Group is pursuing various international strategic expansions to secure resources and modernize production. In Algeria, discussions are underway to establish an industrial partnership focused on revitalizing the steel sector through an integrated complex for low-carbon direct reduced iron and green steel production. Simultaneously, the group is looking toward raw material acquisition in Australia, where it is considering a minority stake of 15% to 25% in BHP’s Jimblebar iron ore mine. This potential investment follows the company’s recent expansion in Guinea, where its subsidiary increased its ownership of the Winning Consortium Simandou to 51%. Recent reports indicate that BHP Group Ltd has experienced a share price pullback, dropping 7.5% over the past week, amid news of Baowu Steel Group’s potential interest in the Jimblebar mine. While BHP has not confirmed the deal, the company stated it regularly explores options to create long-term shareholder value. The potential involvement of a Chinese state-owned entity has drawn scrutiny from Australian politicians.

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