CHINA MINING News

Algeria, China negotiate to establish mining consortium

Source: www.chinamining.org     Citation: Xinhua     Date: March 1, 2016

Algeria on Sunday revealed the existence of negotiations with China to establish a partnership to exploit one of the largest mining deposits in the North African nation.

"We are negotiating with Chinese partners to establish a consortium to exploit Gara Djebilet deposit in the province of Tindouf," Algerian Industry and Mines Minister Abdesselam Bouchouareb told reporters after meeting with CEO of China Civil Engineering Construction Corporation (CCECC) Yuan Li.

According to Bouchoureb, this is the first time negotiations on Gara Djebilet project are held, and the economic feasibility and technical studies of this mining site have already been done.

Transport Minister Boudjemaa Talai also held talks with Yuan and they agreed to construct a 950 km railway line linking Gara Djebilet site to Abadla in the province of Bechar, APS news agency said.

Gara Djebilet is one of the largest mines in the world with 3.5 billion tons of iron.

Algeria is seeking through the exploitation of this mine to curb iron and steel import bill which hit 10 billion dollars last year.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2016, please visit: m.balanzskin.com.

Chinese steelmakers not dumping: Commerce Ministry

Source: www.chinamining.org         Citation: Xinhua       Date: February 18, 2016

Chinese steelmakers are not engaged in dumping of surplus goods into the European Union (EU), China`s Ministry of Commerce (MOC) said on Wednesday.

In response to an EU anti-dumping probe, MOC spokesperson Shen Danyang told the press that low preliminary tariffs were not evidence of dumping by China.

Overcapacity is a worldwide industry problem and efforts by Chinese government and enterprises to restructure the steel industry and reduce excess capacity have made headways, Shen said.

China hopes to deal with overcapacity together with the EU, and protectionism will exacerbate the situation, he said.

Worried that cheap steel from China may prejudice its domestic interests, the European Commission is looking into imports of steel used to reinforce concrete and has imposed provisional duty on them.

In a separate case, the EU is expected rescind anti-dumping measures on Chinese fasteners in three weeks as the World Trade Organization ruled in January that the measures broke international trade rules.

"We have not verified the news yet, but if that were true, it would be a welcome step against protectionism," said Shen. "We hope the EU revokes the measures as soon as possible. "

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2016, please visit: m.balanzskin.com.

China`s gold output dips on lower prices

Source: www.chinamining.org         Citation: Xinhua        Date: February 8, 2016

China`s annual gold output fell for the first time in 2015 due to lower prices in the global gold market, according to latest industry figures.

The country produced 450 tonnes of gold last year, down 0.39 percent year on year, the China Gold Association said on its website.

International gold prices have shed nearly 40 percent since April 2013, squeezing producers` profits and affecting output, the association said.

However, China remained the world`s largest gold producer for a ninth year running and saw gold consumption recovering last year, the association said.

China consumed 986 tonnes of gold in 2015, up 3.7 percent year on year, compared with a 24.7 percent slump in 2014.

The association attributed the growth to a marked increase in gold jewelry sales and forecast the country would maintain its status as the world`s biggest gold consumer.

China`s gold reserve reached 1,762 tonnes at the end of 2015, the association said.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2016, please visit: m.balanzskin.com.

China expands intl cooperation in nuclear energy: white paper

Source: www.chinamining.org         Citation: Xinhua        Date: January 28, 2016

China is dedicated to promoting an international nuclear safety emergency system and sharing achievements in peaceful use of nuclear energy with other countries, said a white paper issued on Wednesday.

China has reached bilateral agreements on nuclear energy cooperation with 30 countries since it joined the International Atomic Energy Agency (IAEA) in 1984, including Brazil, Argentina, Britain, the United States, the Republic of Korea, Russia and France, said the white paper on China`s Nuclear Emergency Preparedness released by the State Council Information Office.

China General Nuclear Power Corp (CGN) and Electricite de France (EDF) have signed an agreement to build a nuclear power plant at Hinkley Point C in Britain. China`s third-generation nuclear reactor design, known as "Hualong One," is expected to be used in the project.

"China, France and Britain are all leading powers in peaceful use of nuclear energy, and we should be full of confidence in this multilateral cooperation," said Xu Dazhe, director of the China Atomic Energy Authority, at a press conference.

China has also acceded a number of international conventions, including the Convention on Assistance in the Case of a Nuclear Accident or Radiological Emergency, the Treaty on the Non-Proliferation of Nuclear Weapons, and the International Convention for the Suppression of Acts of Nuclear Terrorism.

Moreover, China has actively fulfilled international obligations regarding nuclear emergency preparedness, the document said.

Chinese delegates have attended all conferences on nuclear emergency preparedness and nuclear safety convention obligation compliance organized by the IAEA, and submitted national reports on nuclear emergency preparedness and compliance with nuclear safety obligations, it said.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2016, please visit: m.balanzskin.com.

Rise seen in dependence on foreign oil

Source: www.chinamining.org         Citation: Global Times      Date: January 27, 2016

While 2015 continued to see relatively slow growth in China`s oil consumption, the country`s dependence on imported oil exceeded the 60 percent mark for the first time in history, a research institute under China National Petroleum Corp (CNPC) said Tuesday.

China`s net imports of foreign crude oil reached 328 million tons in 2015, up 6.4 percent from the previous year, according to an annual report released on Tuesday by CNPC Economics & Technology Research Institute (ETRI). The growth rate was up 0.6 percentage points from 2014.

The apparent consumption of crude oil in the country climbed to 543 million tons in 2015, up slightly by 25 million tons from a year earlier, it said.

Excluding newly added oil reserves and inventory factors, China imported 60.6 percent of its total actual consumption of crude oil last year, the report noted, a development experts mainly attributed to the low global oil prices over the past year.

Building reserves

"China`s oil consumption did not see significant growth last year, so the increased dependence on foreign oil may have something to do with the decreased oil supply from domestic producers," Han Jingyuan, an oil analyst at JYD Online Corp, a Beijing-based e-commerce platform for commodities, told the Global Times on Tuesday.

For instance, Daqing Oilfield, a subsidiary of CNPC and China`s largest inland oil field, slashed its 2015 output target to 38.5 million tons, with the goal of lowering annual output to 32 million tons by 2020, the Xinhua News Agency reported in December 2014. The oil field`s 2014 output totaled more than 40 million tons.

"Slumping oil prices is a major factor behind oil producers` decision to cut output," Han noted. "If the declining trend continues, more Chinese companies are likely to cut production to cope with the sluggish oil prices this year."

Global crude oil prices have fallen heavily from a peak of $120 per barrel recorded in June 2014.

In early trading on Tuesday, US crude fell more than 3 percent to about $29 per barrel.

China has also been taking advantage of the low oil prices to build up its strategic petroleum reserves (SPR), another reason behind the increased dependence on foreign oil, according to Lin Boqiang, director of the Center for Energy Economics Research at Xiamen University.

As of mid-2015, China had built eight SPR sites, double the number announced in November 2014, the National Bureau of Statistics said in December 2015. These sites, along with some commercial storage tanks, can hold a combined 26.1 million tons of crude oil.

"As long as oil prices remain low, it makes perfect sense for China to continue building its SPR by purchasing cheap oil," Lin told the Global Times on Tuesday.

China`s dependence on imported oil may rise further this year.

According to the CNPC ETRI report, China`s apparent consumption of oil is expected to grow 4.3 percent year-on-year to 566 million tons in 2016, and net imports of crude oil are estimated to reach 357 million tons, up 7.3 percent year-on-year. This would mean dependence on foreign oil rising to 62 percent, it forecast.

Cooling M&As

While low oil prices may have facilitated China`s oil imports last year, they could also be blamed for the cooling trend in overseas mergers and acquisitions (M&A) by Chinese energy companies during the same period, experts noted.

"Given the current oil price levels, now is not a good time for overseas investment," Wang Yumin, a research fellow at Morning Whistle Group, a Shanghai-based provider of M&A information, told the Global Times on Tuesday.

According to Lin, Chinese oil companies are in a difficult situation as they stand to lose money for each barrel they produce, so they may focus more on cost-cutting instead of overseas expansion.

Last week, China National Offshore Oil Corp (CNOOC), China`s leading gas and oil supplier, announced a cut in its oil and gas output target for 2016.

On Monday, Standard & Poor`s Ratings Services lowered its rating on CNOOC, saying that the company "is taking various measures to preserve its cash flow in the currently depressed price environment, including cutting back capital expenditures and costs, but such measures are not enough to stabilize its cash flow adequacy."

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2016, please visit: m.balanzskin.com.

Iran, China to boost energy ties, eye upstream, downstream investment

Source: www.chinamining.org         Citation: Platts       Date: January 26, 2016

China and Iran on Saturday agreed to boost energy-sector ties under which Beijing will be looking into the possibility of boosting investment in Iran`s downstream and upstream sectors, in addition to signing more long-term contracts on energy trade related issues.

The Islamic Republic is seeking to open its doors to the world after international sanctions over its nuclear dispute were lifted on January 16.

"We examined banking and financial issues, joint investment, long-term contracts in the energy sector...," President Hassan Rouhani said after signing the documents, state television reported.

"We discussed boosting Iran-China [economic] ties over the next 10 years up to $600 billion," Rouhani said.

The Iranian president said that the two sides would work on a "25-year comprehensive document of strategic relations." Xi, accompanied by three deputy prime ministers, six ministers and a large business delegation, was the first Chinese president to visit Iran in 14 years.

"We agreed on energy cooperation and also on expanding relations within the Silk Road economic route and the marine Silk Road in various areas like roads, industrial capacities and fast railroads," Xi was quoted as saying by state television.

"The Chinese side will provide the necessary finance," the Chinese official said.

Iranian Supreme Leader Ayatollah Ali Khamenei called the landmark 25-year agreement a "very appropriate and wise" one.

"Iran is the only independent country in the region that can be relied on in the energy area because unlike some countries in the region Iran`s energy cannot be influenced by any non-Iranian element," Khamenei was quoted as saying by state television at a meeting with Xi, a veiled barb aimed at regional rival, Saudi Arabia.

MORE THAN JUST INVESTMENT

During western sanctions, China remained a major purchaser of Iranian crude and became its .

"Nobody would buy oil from us, but the Chinese did over the past few years. Nobody would give us essential goods, China did. Therefore, our trade reached $52 billion in 2013-14. Because of oil price fall in 2015, this volume shrank to $39 billion," Assadollah Asgaroladi, head of Iran-China Chamber of Commerce told state television on Saturday.

"But with the new accords and agreements, we hope to raise the trade by 20%-25% each year so that we can go to around $50 billion," Asgaroladi said, who has run the chamber for the past 17 years. He expects to see $60 billion worth of trade each year.

Asgaroladi also said he envisaged cash payments for around 50%-60% for Iran`s oil. The rest would remain in Chinese banks for Iran as a deposit to buy commodities and equipment.

Chinese companies filled in for western international oil companies, who abandoned Iran`s energy sector because of sanctions. The country is now opening up for investment again, and plans to launch new contracts for the oil sector this year.

"Based on the 20-30 year trade plan and the protocols signed, China will overtake Europe. China will have already started before Europe looks around and figures out what investments to make," Asgaroladi said.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2016, please visit: m.balanzskin.com.

Capital to wipe out coal use by 2020

Source: www.chinamining.org         Citation: China Daily        Date: January 12, 2016

The national environmental watchdog has declared that boosting efforts to cut air pollution in northern China, especially winter smog from the burning of coal, is a mission for this year.

Among the efforts, Beijing has declared that it will wipe out coal use in its most rural areas by 2020.

As much as "60 percent of smog content is caused by coal burning in the starting phase of each smog", said Fang Li, an official with Beijing`s Environmental Protection Bureau.

To start with, Beijing will replace coal-fired heating stoves with those powered by electricity or gas in 400 villages this year, before taking the campaign to the districts of Chaoyang, Haidian, Fengtai and Shijingshan by 2017, said Guo Zihua, a municipal rural development official.

Beijing`s downtown districts of Dongcheng and Xicheng eliminated coal burning last year, officials said.

The capital and other places in northern China experienced several smog alerts in November and December, when peak readings were many times higher than the national safety level.

Burning coal for winter heating has been listed as one of the primary causes of air pollution, Chen Jining, minister of environmental protection, said on Monday at the annual meeting on environmental protection in Beijing.

The increased severity since November of hazardous smog in northern China showed that the government efforts in reducing the coal comsumption for improving air quality, Chen said.

He said the ministry will do everything to prevent environmental protection from becoming a stumbling block for the country during the 13th Five-Year Plan period £¨2016-20£©¡£

Chen said that the trend of transferring pollution from the country`s industrial eastern region to the developing central and western regions warrants particular attention.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2016, please visit: m.balanzskin.com.

China to cut overcapacity, help companies out

Source: www.chinamining.org         Citation: Xinhua       Date: January 8, 2016

Chinese Premier Li Keqiang (C, rear) presides over a symposium on China`s coal industry to address its excessive capacity in Taiyuan, capital of north China`s Shanxi Province, Jan. 4, 2016. (Xinhua/Xie Huanchi)

China will provide full support for the coal and steel sectors, which suffer serious overcapacity, to help them out of their current difficulties, according to an official statement issued Thursday.

Since last year, overcapacity in those sectors became a prominent problem due to weak demand at home and abroad and dropping commodity prices on the global market, the statement cited Premier Li Keqiang as saying at a meeting on the topic.

As companies in deteriorating hardship weighed on both economic growth and steady employment, the country must defuse overcapacity in an orderly manner and help companies find a new development path.

In the past three years, China eliminated more than 90 million tonnes of steel production capacity and over 200 million tonnes of coal mining capacity.

Li said the country will carefully study market conditions to set a reasonable target for the next three years.

Since 2013, the country has stopped approving new steel capacity. The country will suspend the approval procedure for new coal mines, technology upgrade projects and for raising capacity of existing coal mines, Li said.

China will also gradually close steel mills that fail to meet environmental, energy conservation and safety standards. Coal mines using forbidden mining methods or falling short of safety standard will also be shut down.

Remaining capacity should be optimized partly by raising market access standards on environment protection and the uses of energy, materials and water. Companies should upgrade their products toward a more sophisticated, smart and green direction, the premier said.

The country encourage mergers and acquisitions and "will guide the voluntary exit" of weak companies that cannot cease making losses, he said.

The government should take "a combination of measures" to resolve problems from overcapacity, including fiscal and financial support, ensuring the lives of laid-off workers and enhance supervision on local governments` work around overcapacity, Li said.

China will support steel and coal companies to engage in mass entrepreneurship and innovation to create new job opportunities.

The central government is going to set up a special fund to subsidize the efforts of local governments and companies to defuse overcapacity. The fund will be mainly used in taking care of laid-off workers, according to the premier.

The country will safeguard the legitimate interests of laid-off workers by offering new jobs, supporting them to start businesses and providing posts in non-profit endeavors.

Li added that local governments must abandon all preferential policies and protective measures for fields with overcapacity, and efforts of eliminating excessive capacity will be one of the major aspects in evaluating the work of local governments.

Industrial restructuring and optimization should not just focus on old industries, but also on new sectors that will provide new impetus for growth to provide more jobs lost in the traditional sectors, he said.

The meeting was held in Taiyuan, north China`s Shanxi Province Monday. It was attended by officials from some major steel- and coal-producing provinces and 24 leading companies in the fields.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2016, please visit: m.balanzskin.com.