Taiyuan Iron & Steel Co Ltd and Chinese Academy of Sciences Yangzhou Industrial Center plan to cooperate on the construction of one-million-tonne magnesium and magnesium alloy smelting and rolling production line in Tisco.
It is estimated that this magnesium alloy deep processing center will gain operating revenue of CNY 50 billion and pre-tax profits of CNY 15 billion.
According to statistics, China has already been world 's largest magnesium producer. As of 2007 about 80% metallic magnesium originated in China and in 2010, China produced primary magnesium of 650,000 tonnes and in 2011, China 's primary magnesium output reached 660,600 tonnes.
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