BREAKING NEWS: The discovery of the biggest ore mine in Asia

HONG KONG (MarketWatch) — Shares of Angang Steel Co. were suspended from trading in Hong Kong late in the morning session Thursday, after the share price advanced for a second day on reports by China’s state-run media of a major mineral discovery.

The miner’s Shenzhen-listed shares were suspended ahead of the market open.

The Xinhua news agency reported earlier this week the discovery in the northeastern province of Liaoning had an estimated iron ore reserve of 3 billion tons, making it the largest in Asia.

The core deposit is situation between 1,200 meters and 1,860 meters underground and spans a rectangular shape four kilometers long and three kilometers wide, Xinhua reported, citing Yu Wenli, head of the Liaoning Provincial Bureau of Geology and Mineral Resources Exploration.

http://www.marketwatch.com/story/angang-steel-shares-halted-after-epic-ore-find

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