The Sibanthracite Group and Baosteel Resources Int. Co. Ltd , a subsidiary of the China Baowu Steel Group Corporation Limited that procures raw materials, have signed a strategic partnership agreement. Under its terms, the Sibanthracite Group will intensively increase its supply of products, including PCI coal and high-quality anthracite, to the Chinese company. PCI Siban – a new brand of metallurgical coal that has been produced by the Russian company since last year – will account for the largest volume, Sibanthracite Group says in a press release.
The Sibanthracite Group is presently the only Russian company that has a strategic partnership agreement with the China Baowu Steel Group.
The agreement was signed by Zhu Jiachun, General Director of Baosteel Resources, and David Chen, an official representative of the Sibanthracite Group in China, at the office of China Baowu Steel Group in Shanghai. The signing of the document, which is of such importance to both sides, was broadcast to Sibanthracite’s Moscow Office via a direct video link.
“It’s a great honor for us to become a strategic partner of the world’s leading steel company – the China Baowu Steel Group – which highly appreciates the quality of our products,” said the Sibanthracite Group’s General Director, Sergey Melnikov.
“Our company has been successfully working with Sibanthracite for a long time. Both sides attach great importance to our cooperation, and I hope that this signed agreement will become the basis for strengthening and developing our partnership further,” said Baosteel Resources’ General Director , Zhu Jiachun
China Baowu Steel Group Corporation Limited is the largest steel company in China and the world, with production exceeding 100 million tonnes in 2020, according to company data. China Baowu Steel Group was ranked 111th in Fortune Magazine’s Top 500 Global Companies in 2019.
Baosteel Resources (International) Co., Ltd., which purchases coal for the conglomerate, is a 100% subsidiary of China Baowu Steel Group Corporation Limited.
The Sibanthracite Group is the world’s largest producer and exporter of high-quality, Ultra High-Grade (UHG) anthracite, as well as Russia’s largest producer of metallurgical coals.