Chinese Steelmaker Settles $16 Million Iron Ore Deal on Blockchain By Cointelegraph


Chinese Steelmaker Settles $16 Million Iron Ore Deal on Blockchain

In its first-ever, the Chinese steelmaker Nanjing Iron and Steel Company said it has completed an iron ore trade on the blockchain.

The steel company obtained a $16.87 million shipment of steelmaking ingredients from the joint venture between the multinational mining group Rio Tinto (NYSE:) and Hancock Prospecting Pty. Ltd. The shipment included 170,000 tonnes of Australian iron ore fines and lump.

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