The agreement is still awaiting approval from the DRC government.
"The weak mining market has helped Chinese companies buy overseas assets and increase their international footprint," Wei said. "There is great potential for the country's miners and steel producers to expand further."
Big three iron ore giants
Name: Vale SA
Founded: 1942
Entered China: 1973
Headquarters: Rio de Janeiro, Brazil
Number of employees worldwide: About 200,000
Global revenue in 2014: $38.24 billion
Name: Rio Tinto Plc
Founded: 1873
Entered China: 1973
Headquarters: London, UK
Number of employees worldwide: About 60,000
Global revenue in 2014: $47.66 billion
Name: BHP Billiton Limited
Founded: 1885
Entered China: 1973
Headquarters: Melbourne, Australia
Number of employees worldwide: About 47,000
Global revenue in 2014: $67.21 billion
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