China to raise threshold for iron ore import 
(www.chinamining.org)
Updated:
2007-01-05 09:30
Counter:
China Iron & Steel Association (CISA) and China Chamber of Commerce of Metals Minerals & Chemicals Importers & Exporters jointly publicized the Qualification and Standard of Iron Ore Import Enterprises for 2007 on January 3, aiming to regulate the order of iron ore import and improve the qualification of import enterprises.
The rules, to be taking into effect as of February 1, 2007, stipulate that enterprises importing iron ores must have a registered capital of 20 million yuan at least. The bank credit of iron ore importers must reach Level AA or above, and the credit line given by banks must stay beyond 400 million yuan. Moreover, qualified iron ore importers must have a scaled capacity of iron ore pile-ups and inventory.
The rules also clarified that steel and iron producers must have environment-friendly governance devices that can well meet the need of their production scale, and the drain of major pollutants must measure up to the national standards, introduced by Luo Bingsheng, standing vice director of CISA.
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