In a statement on March 20, 2014, the Metallurgical Mines Association of China disclosed that China plans to create a conglomerate of iron-ore mining giants that would in 10 years produce at least half of its domestic ore. It said "This marks a strategy for our country to break our reliance on imported ore, and to support the transformation of our steel industry for international competitiveness." 

The government intends to form a large mining group to be led by Ansteel Mining Co., a state-backed company that is the country's largest ore producer, to end its steel-making industry's dependence on imports of the material. The conglomerate would comprise six to eight mining businesses. 

China makes half of the world's steel, but depends on global mining giants for most of the iron ore it needs. China produces about 1.5 billion tons of ore a year and imports account for around 70% of the ore used in China's steel production.