Fangda Special Steel has abandoned a plan to purchase shares both of Anshan Annan Minerals Co Ltd, which owns exploration permits on an iron ore mine in Haicheng, Liaoning with a reserve of 25.82 million tons and a Fe grade of 32.93 percent, and of Shenyang Xingjiang Investment Co Ltd, legitimate to map an iron ore deposit (26.4 percent) with a reserve of 51.00 million tons. Instead, Liaoning Fangda is poised to buy 100 percent of shares in the two companies and will inject these assets into Fangda Special when the timing is ripe.