Baogang Group

Founded in 1954, Baotou Iron and Steel Group (Baogang Group) (包头钢铁（集团）有限责任公司) is an iron and steel State-owned enterprise based in Baotou, Inner Mongolia autonomous region. It is the largest steel business based in the autonomous region, and one of the oldest iron and steel industrial bases in China, with a large production base of iron and steel, and the largest scientific research and production base of rare earth metals in China. 

Baogang Group is engaged in steel, rare earth metals and minerals, as well as the non-steel industries, such as equipment manufacturing, engineering construction and organic foods processing. Baogang Group has branches in 13 provinces and offices in the United States and Mongolia.

In the first quarter of 2017, it reported profits of 20 million yuan ($2.9 million), an increase of 1.46 billion yuan compared to last year. Revenue topped 13.76 billion yuan, representing a year-on-year increase of 98.76 percent. The export volume of steel rose by 23.41 percent to 536,500 metric tons in the first quarter of this year.

Pipeline steel exports hit 29,000 tons in the same period, 90 percent of which were exported to countries and regions involved in the Belt and Road Initiative, such as South Asia and the Middle East.

The group’s two listed companies, Inner Mongolia Baotou Steel Union Co. Ltd and Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co. Ltd, shared assets worth more than 160 billion yuan ($24.25 billion) by the end of 2015.

Baogang Group has a key material base in Bayan Obo Mining District, where 175 minerals and 71 elements have been located. The district has the largest rare earth reserve and the second-largest niobium reserve in the world, with around 50,000 employees.

Web: https://www.btsteel.com/