Founded in 1954, Baotou Iron and Steel (Group) Co., Ltd. (hereinafter referred to as Baotou Steel Group) is one of the 156 key projects constructed by China during the “First Five-Year Plan” period. In addition, it is the only iron and steel enterprise whose ribbon-cutting ceremony was attended by Premier Zhou Enlai. At that time, the people throughout the country had worked together to build Baotou Steel Group. At present, an industrial system has been formed with rare earth and steel industries as the main industries, and emerging ones developing such as resource and comprehensive utilization, logistics, coal-coking industry, energy conservation and environmental protection, equipment and production and life services. Baotou Steel Group is the first enterprise with the revenue of 100 billion yuan and the profit of 10 billion yuan in Inner Mongolia Autonomous Region. At the end of June 2023, its total assets have reached RMB 216.7 billion, having 56200 registered employees with 147 subsidiaries and 2 listed companies. 

Baotou Steel Group is an important strategic mineral resources base in China. Its Bayan Obo Mine is a large and unique associated deposit in the world, covering multiple metals such as iron, rare earth and niobium. It not only contains rich iron resources, but also ranks first in the rare earth reserves and second in niobium and thorium ones, rich in various national strategic resources such as fluorite, scandium, and potassium. At the same time, Baotou Steel Group owns 460 million tons of external iron ore resources, 877000 tons of non-ferrous metal resources, and 2.1 billion tons of coal resources. Currently, it is relying on its own resources to promote comprehensive utilization and transformation.

Baotou Steel Group is the largest rare earth industrial base in China. It has formed a complete industrial chain based on rare earth resources, with smelting and separation as core procedure, new materials as focus elements to achieve terminal applications. The capacity of rare earth beneficiation, smelting and separation, metal production, as well as magnetic and polishing materials ranks first in the world, which lays an important foundation for the construction of “two rare earth bases” in Inner Mongolia Autonomous Region. Its subsidiary company, China Northern Rare Earth Group, is a leading enterprise in the industry, which integrates rare earth production, scientific research, trade, and new materials, also is a world-class demonstration manufacturer in the specialized and sophisticated enterprises that produce new and unique products.

Baotou Steel Group is an important iron and steel industrial base in China. With the annual steel products capacity of 17.5 million tons, covering various production lines ranging from plates, tubes, rails to wire rods and bars, it can produce high-end products such as high-speed rails, petroleum pipes, automotive steel, household appliances steel, pipeline steel, and high-strength structural steel. The unique rare earth resources of Bayan Obo enable the steel products to contain rare earth elements naturally, widely recognized and praised by users. Its branch, Inner Mongolia Baotou Steel Union Co., Ltd., is the world’s largest rare earth steel production provider and the largest steel production enterprise in the northwest region of China. 

Baotou Steel Group is an important technological innovation base in the industry. Its R&D investment exceeds 5%, and there are 42 high-tech enterprises. It contains 14 national innovation platforms and 3 academician workstations, including a National Key Laboratory for Bayan Obo Rare Earth Resource Research and Comprehensive Utilization, and 2 National Enterprise Technology Centers. Baotou Steel Group has 95 recipients of special subsidies from the central government, 3 members selected by national “Millions of Talents Program”, and multiple members awarded the titles of “Middle and Young Experts of National Outstanding Contribution”, “National Technical Expert”, and “National Skill Master”. It has established a national multi-level R&D innovation system in the service industry with strong technological innovation capabilities.

In the future, Baotou Steel Group will make a comprehensive programme for its development, taking on the responsibilities of driving local economic and social development and building a stronger, better, and larger state-owned enterprise. It will firmly implement the strategic transformation focused on rare earth, striving to become an important support for maintaining the security of rare earth strategic resources, to become the main force of constructing “two rare earth bases” in Inner Mongolia Autonomous Region, and to be a pioneer of high-end, green and intelligent transformation in the industry, making efforts to become one of the world’s top 500 enterprises as soon as possible.