Wuhan Iron and Steel (Group) Corp. issued a 6-billion-yuan ($952-million) three-year medium-term note on August 24.

The money raised will be used for the company's operational costs, according to a statement on its website.

The company issued a 2-billion-yuan ($314.8-million) medium-term note in June, and a 3-billion-yuan ($472.2-million) medium-term note in July.

The company plans to buy approximately 22 million tons of iron ore this year and 15 million tons of coal, which will cost about 424 million yuan ($66.74 million).

Around 80 percent of the iron ore and coal for steel production comes from the company's overseas mines, according to a report published in the National Business Daily.