Ansteel

Ansteel Group is planning to merge with Lingyuan Steel Group, the controlling shareholder of Lingyuan Iron and Steel Co., which may result in a change of controlling shareholder for Lingyuan Steel.

Chinese steelmakers Ansteel and Ben Gang Group Corporation signed a merger deal on August 20, 2021, forming the world's third-largest steelmaker with annual production capacity of 63 million metric tons.

Chinese steelmaker Ansteel will acquire the remaining 64.11% of Gindalbie Metals it does not already own for about $25 million, gaining full control of the Karara magnetite iron ore project in Western Australia.

thyssenkrupp Steel Europe signed contracts for a joint venture with Jingu and Ansteel to produce lightweight and steel design wheels for the auto industry in China. Jingu will hold 51%, thyssenkrupp 34%, and Ansteel 15%.