en.Wedoany.com Reported - The construction of the Pengji Iron Mine project, located in Pengji Subdistrict, Dongping County, Tai'an City, Shandong Province, China, is progressing in an orderly manner. This deposit is a large-scale "Anshan-type" sedimentary metamorphic magnetite, with total resource reserves exceeding 234 million tons. It is characterized by large scale, easy mining and beneficiation, and high reliability of resource volume. The total project investment is approximately 3.8 billion yuan, with a designed annual mining and beneficiation capacity of 8 million tons of iron ore, an annual output of 2.05 million tons of high-quality iron concentrate with 65% grade, and a service life of nearly 32 years.
The Pengji Iron Mine project officially commenced on February 26, 2026. Yang Hongtao, Secretary of the Tai'an Municipal Party Committee; Zhang Baocai, Secretary of the Party Committee and Chairman of Shandong Iron and Steel Group Co., Ltd.; and Li Guoqiang, Deputy Secretary of the Tai'an Municipal Party Committee and Mayor, attended the groundbreaking ceremony. As a provincial key project, it is dually positioned under the national iron ore "Cornerstone Plan" and the key project for the construction of Shandong Province's green, low-carbon, high-quality development pilot zone. The project is led and invested in by Shandong Iron and Steel Group and Yongfeng Group. It is being constructed in two phases, with completion planned by the end of 2028. Upon reaching full production, it is expected to generate an annual output value of 2.1 to 3 billion yuan, tax revenue of 400 million yuan, and provide employment for over 700 people.
The project developer is Shandong Pengji Mining Co., Ltd. Established in December 2021 with a registered capital of 55.6673 million yuan, Pengji Mining is indirectly held by Shandong Jinling Iron Mine Co., Ltd., a subsidiary of Shandong Iron and Steel Group. The project adopts a mixed-ownership structure of "state-owned + private + government platform." In October 2025, representatives of all shareholders jointly signed a shareholder cooperation agreement, and Pengji Mining signed a syndicated loan agreement with multiple banks.
Shandong Iron and Steel Group positions the Pengji Iron Mine as a "core layout to solidify the resource foundation and ensure the security of the industrial chain" and a "core carrier for the mining sector's renewed takeoff." Wang Xingqiang, Secretary of the Party Committee, Executive Director, and General Manager of Jinling Iron Mine, stated that the project will adhere to high environmental protection standards, adopt a comprehensive resource utilization plan, and ensure that mining and beneficiation energy consumption is superior to industry advanced standards. It will also promote "mechanization to replace labor, automation to reduce personnel, and intelligent unmanned operations" to build a safe and efficient smart mine. The mining area is located in Pengji Subdistrict, Dongping County, covering an area of 12.16 square kilometers, with a mining depth ranging from 50 meters to -1000 meters. Upon completion, the project will become the largest single iron ore mine in Shandong Province.
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