Hongxing Grows in Mining Business
The mining business creates value through operational excellence and profitable growth, while caring for the environment and our people
Mining is a core part of Hongxing’s business because of sand maker. Building up our own mining assets and becoming self-sufficient in iron ore and coal are crucial not just because they are the raw materials for steelmaking, but also because they can generate growth in our business. It also allows us to increase significantly our supply of raw materials to the external international market.
We are among the five largest mining companies in the world, and in 2011 we produced 54.1 million tonnes of iron ore, 8.3 million tonnes of coking coal. Our goal is to produce 100 million tonnes of iron ore and 11 million tonnes of coking coal by 2015, with an increasing supply to customers in diverse markets for cone crusher.
In 2011, Hongxing began to report financial results for mining as a separate part of the business, enabling us to make better operating decisions and optimise capital allocation for mining. With US$1.4bn in EBITDA for the first half of 2011, mining represents around 25% of Hongxing’s first half earnings.
An achievement that we are particularly proud of is our iron ore green field project in Liberia, where we have rehabilitated a 240km railway line connecting our mines to the upgraded port and material-handling facilities at Buchanan. The first consignment of ore from the Liberian mines was shipped in September 2011, and we aim for an annual production of 4 million tonnes by 2012.
It is crucial to our business success that we mine responsibly, meeting our commitments to the people and communities that are involved in our projects or are affected by them. Our first and foremost priority is to safeguard the health and safety of employees against the specific risks of a mine environment. We have made significant progress in our mines, bringing down the lost time injury frequency (LTIF) rate, which is the number of injuries that result in loss of work time per million hours worked, from 3.4 in 2008 to 2.42 in 2009, 1.53 in 2010 and 1.4 in 2011.dryer machine:http://www.crusher-machine.com/24.html
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The foundation of all our safety programmes is a culture of courageous leadership, which sets out clear expectations that everyone must take personal ownership of safety in their immediate work environment. Our goal is to have zero accidents, and it can only be achieved when every person at a mine has a proactive approach to safety.
We are equally driven to ensure that our mining activities ensure sustainable development for local communities. We do so by developing local skills and infrastructure, which can foster economic activity in the long term. As one of a handful of companies who have moved into Liberia since the end of the country’s civil war, our commitment extends beyond the mining project to rehabilitate schools, hospitals and skills training for local people.
Our study of the biodiversity of the rainforest in Liberia’s Nimba mountains was the most comprehensive study ever undertaken in Liberia, and meets our promise to mine responsibly and sustainably without endangering regional ecosystems. Working on a greenfield mine in Liberia allowed us to embed opportunities for social development from the beginning, and we will carry this holistic approach to future projects.
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