Baotou Steel plans to invest 260 million yuan in a 1.2 million t/y oxidized pellet project, in cooperation with Inner Mongolia Dazhong Mining Co Ltd, for an 86.67 stake in the joint venture. The project, as an accompanying raw material item gearing to the mill’s 10 million t/y steel program, is expected to have sales revenue of 840 million yuan and an aggregate profit of 68.47 million yuan in three years while running at full capacity. Baotou Steel made a loss of 747.52 million yuan in the first half of this year, with Q3 losses expected to be 0.2 to 1 billion yuan.