Incorporated in Australia on the 14th of September, 2004, Wugang (Australia) Pty Ltd is a wholly-owned subsidiary of Wuhan Iron & Steel (Group) Co. (“WISCO”).
The company signed the Wheelarra project, which is a joint venture agreement with BHP Billiton on the 28th of September 2005. The company holds a percentage of buying rights of iron ore produced by the project in Australia. The agreement commences on the 1st of October 2005 and over the life of the joint venture it will produce 175 million tons of high-grade iron ore. As of the end of 2007 financial year, the company has achieved AUD$40 million in revenue from the Wheellara project. More
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