shougang annual report

12
Management Discussion and Analysis
2. Investment in upstream assets
In order to secure upstream resource assets of the Group,
Shougang Concord International has put in A$28 million
(HK$186.8 million) in exchange of approximately 6.4% equity
interest in Australasian Resources Limited (“ARH”), an Australianlisted
company, in June 2007. The purpose of which is to support
ARH’s feasibility studies into an iron ore mine in Pilbara Region
of Western Australia. Such a move has given us an opportunity
to work more closely with ARH in order to secure iron ore
resources.
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