Inner Mongolia Bao Gang United Steel Co., Ltd.

Published:

2022-11-10 17:09

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Founded in 1954, Bao Gang United Steel is a large steel & iron enterprise established in the minority area after the foundation of the People’s Republic of China. Bao Gang was incorporated in 1999 and listed on Shanghai Stock Exchange in 2001. It is a large steel & iron listed company in Western China.

Founded in 1954, Bao Gang United Steel is a large steel & iron enterprise established in the minority area after the foundation of the People’s Republic of China. Bao Gang was incorporated in 1999 and listed on Shanghai Stock Exchange in 2001. It is a large steel & iron listed company in Western China.

 

Bao Gang United Steel has established the corporate mission of “producing high-quality steel & iron products and creating a better life” and the corporate vision of “featured steel & iron, green homeland” based on the goal of “building a global optimal rare earth steel product production base and excellent service supplier of outstanding rare earth steel products” and by adhering to the corporate spirit of “being perseverant and self-transcendental”.

 

Compared with other enterprises in the industry, Bao Gang United Steel has unique advantages in resources. The Baiyuneboite possessed by Bao Gang Group is a world-renowned resource repository. The explored reserve of iron ore is 1.4 billion tons; that of rare earth oxide is 35 million tons, ranking the first in the world; that of fluorite is 130 million tons, raking the second in the world; that of niobium is 6.6 million tons, ranking the second in the world. The company possesses the right of mining the west area of Baiyuneboite mining area. The ore in the east Baiyuneboite mining area exploited by Bao Gang Group is exclusively supplied to the company. The company possesses the right to develop Baiyuneboite mineral resources. The reserve of the Baiyuneboite tailings pond possessed by the company is 200 million tons, the reserve of the rare earth oxide is about 13.82 million tons, ranking the second in the world; and the reserve of fluorite is 43.92 million tons. Such unique advantages lay a solid foundation for sustainable development of Bao Gang United Steel. The resource endowment of coexistence of iron and rare earth in Baiyuneboite achieves the feature of “rare earth steel” of Bao Gang United Steel. Its product characterized by good extension, wear resistance, corrosion resistance, low temperature resistance, strong toughness and drawing resistance has been widely recognized and highly praised by downstream users, has been widely applied to national key projects like Beijing-Shanghai Express Railway, Qinghai-Tibet Railway, Three Gorges Dam Project, Beijing Daxing International Airport, Sino-Russia Natural Gas Pipe East Line, etc. and has been sold to 60 countries and regions, such as Europe and the USA.

 

In recent years, the brand value of Bao Gang Steel has hit a new high and has increased from RMB 3.226 billion in 2014 to RMB 20.58 billion in 2020, ranking among the Chinese Brand Value Top 500. In addition, it has won many honorary titles issued by the Ministry of Industry and Information Technology of the People’s Republic of China, such as “Industrial Product Ecological Design Demonstration Enterprise”, “Inner Mongolia National Brand Building Benchmark Enterprise”, “Inner Mongolia Industry Iconic Brand”, “Inner Mongolia Brands Top 100”, etc., and has finished life cycle assessment (LCA) of multiple products, including four products that have passed the appraisal and review of the international authoritative institution SGS Company. Its rare earth steel rail and many other products have been included in the list of national green design products.

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