Sinosteel Corporation (abbreviated as Sinosteel) is a central enterprise under the administration of the State-Owned Assets Supervision and Administration Commission. There are 59 subsidiaries under the administration of Sinosteel, among which 40 are in China and 19 abroad. The transaction value reaches RMB 41.8 billion in 2005. Sinosteel is mainly engaged in developing and processing of metallurgical mineral resources, trading and logistics of metallurgical raw materials and products, and related engineering technical service and equipment manufacture. It is a large enterprise with clear-defined core businesses that integrate resources development, trade & logistics and engineering project and science & technology, providing comprehensive auxiliary service and system integrated service for steel industry, especially steel mills. Sinosteel is one of the state-owned enterprises that first ¡°Go Global¡± launching successful mineral resource projects. It has successfully established iron ore and chrome ore resource bases in Australia and South Africa, providing abundant mineral resources for the sustainable development of China. Sinosteel possesses global-running sales network and logistic service system. It is the raw material supplier and sales-agent for major Chinese steel mills, some of which Sinosteel has entered into long-term strategic partnership. Its trading transactions in iron ore, chrome ore, DRI, fluorspar, coke, manganese ore, scrap, steel products, magnesite and rare earth are in the leading position in China, which lay important influence in the steel industry. The scientific & technological companies under Sinosteel have solid research foundation and strength in the fields of geological exploration, beneficiation, heat engineering, environmental protection, refractory materials and metal products, etc. Boasting several stand-alone intellectual property rights, they accommodate 6 state-level research centers and are qualified to carry out master and doctor education. As a result of industrialization of research findings, 27 production lines have been established with products prevailing in domestic and international markets.