Related News

Chinese exports have little impact on U.S. steel industry: ministry

Source: www.chinamining.org     Citation: Xinhua     Date: May 31, 2017

The Ministry of Commerce (MOC) Thursday rejected U.S. claims that China is behind the global steel overcapacity, saying its exports have little impact on the U.S. steel industry.

China understands that the United States is concerned about the closure of U.S. steel companies and the resultant unemployment of blue-collar workers, but the root cause of this wave of global steel overcapacity is shrinking demand due to economic downturn since the global financial crisis, the MOC said in a research report on China-U.S. economic and trade relations.

The report said it is untenable that the United States, while acknowledging the current steel overcapacity is a global issue that requires collective responses, blamed the Chinese government support for the steel sector as an important reason for the excess capacity.

China`s steel industry is positioned to meet domestic demand, and the Chinese government does not encourage the export of iron and steel products, but has adopted a series of measures to control exports, according to the report.

It said the proportion of China`s steel exports within the United States total steel imports is small, citing a year-on-year decrease of 51.5 percent in the volume of Chinese steel exports to the United States and a 40.1-percent decline in the value in 2016.

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 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin in September 23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: m.balanzskin.com.

UDM shows China is backing Russian energy industry 

Source: www.chinamining.org     Citation: China Daily     Date: May 23, 2017

A ship carrying one of Sinopec`s modules for a project in Russia is about to leave a port in China. PROVIDED TO CHINA DAILY

The world`s largest refiner, China Petroleum & Chemical Corp, also known as Sinopec, and Russia`s Rosneft Oil said they will deepen cooperation to stengthen their joint venture Udmurtia Petroleum Corp. 

The joint venture, simply known as UDM, was bought out by the two oil and gas giants in August 2006. Rosneft took a 51 percent stake in UDM and Sinopec 49 percent.

UDM is in Udmurtia, a Denmark-sized republic within the Volga Federal District in western Russia.

UDM has increased production by 7.7 percent and its reserves are up 9.5 percent since it was kicked off 11 years ago.

The average annual profit has been more than $450 million with annual net cash flow exceeding $400 million. By the end of 2015, the cumulative net profit reached $4.58 billion, it said.

UDM discovered two new oil fields totaling 800,000 metric tons of reserves in Udmurtia this year.

Wang Jun, general manager of Sinopec`s Russian unit, said China`s Belt and Road Initiative provides a wonderful opportunity for cooperation with Russia in the oil and gas sector, and Chinese companies should seize it to make new breakthroughs.

Russia has abundant energy resources, and Chinese oil and gas companies can provide the necessary technology for exploration and development, he said.

Chinese companies should look at Russia as a key strategic region, considering its political stability and low risk to resources, Wang said.

Analysts said China has always viewed Russia as its top-priority partner for investment cooperation and is ready to take an active part in the development of Russia`s Far East region.

According to Li Li, energy research director at ICIS China, a consulting company that provides analysis of China`s energy market, China and Russia have forged a variety of oil and gas ventures and investments in recent years, including the Yamal LNG project located in the Arctic region of Russia and Sinopec`s purchase of a 10 percent share in Sibur, Russia`s largest gas processing and petrochemicals company.

The Yamal project, the world`s first integrated project for polar natural gas exploration, development, liquefaction and transportation, is expected to begin operations this year, and much of Yamal`s output will be supplied to China and other Asian countries.

"China is a top buyer of Russia`s abundant oil and gas resources, as well as a strategic partner of international cooperation for joint exploration," said Li.

"In addition, China`s financial support from institutions like the China Development Bank also deepens bilateral cooperation."

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 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin in September 23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: m.balanzskin.com.

visit: m.balanzskin.com.

China receives first oil from Myanmar pipeline

Source: www.chinamining.org     Citation: Xinhua       Date: May 22, 2017

The first crude oil from Myanmar has reached China via the China-Myanmar crude oil pipeline, China National Petroleum Corporation (CNPC) announced on Friday. 

The oil reached Ruili, a city of Yunnan Province bordering Myanmar, at 4 p.m., according to the CNPC.

It will continue to flow through the pipe at a speed of about 50 kilometers per day for 650 km before reaching the city of Anning where the CNPC`s Yunnan petrochemical branch is located.

The branch has a designed processing capacity of 13 million tons per year.

The 1,420-km long cross-border pipeline is a part of the China-Myanmar oil and gas pipeline project.

The project, which comprises a crude oil pipeline and a gas pipeline, is a state-operated collaboration between China, Myanmar and international commercial partners.

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 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin in September 23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: m.balanzskin.com.

China-Russia oil pipeline delivers 100 mln tonnes

Source: www.chinamining.org     Citation: Xinhua       Date: May 22, 2017

A China-Russia oil pipeline has transported 100 million tonnes of crude oil in the five years since it began operations, local customs said Saturday. 

The pipeline delivers oil from Russia`s far-eastern region to China through its northeastern provinces.

The 1,000-km line originates in the Russian town of Skovorodino in the Amur region, enters China at Xingan and terminates at Daqing City in Heilongjiang Province. It went to use on January 1, 2011.

The pipeline has reduced costs and raised the efficiency of China`s oil imports from Russia, which had previously relied on rail.

According to the agreement between the two countries, the pipeline will transport 15 million tonnes of crude oil from Russia to China each year until 2030.

China consumed about 560 million tonnes of crude oil in 2016, 65 percent of which were imported, and both oil consumption and the proportion imported will continue to rise, according to China National Petroleum Corporation, China`s largest oil producer and supplier.

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 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin in September 23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: m.balanzskin.com.

Rare wollastonite mine discovered in China

Source: www.chinamining.org     Citation: Xinhua       Date: May 19, 2017

A rare wollastonite ore deposit has been discovered in east China`s Jiangxi Province, according to local authorities.

The ore deposit is estimated to have more than 30 million tonnes of wollastonite reserves. The size of the ore deposit is rare for Asia, said Huang Hanlin, senior engineer of the Coal Geological Bureau of Jiangxi Province.

 Wollastonite is a naturally occurring mineral with many unique characteristics. Through advanced processing, it has become one of the most versatile functional fillers on the market and is widely used in products including plastics, paint and coatings as well as ceramics.

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 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin in September 23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: m.balanzskin.com.

Sinopec plans $30b global investment: report

Source: www.chinamining.org     Citation: Agencies        Date: May 17 2017

China`s oil giant Sinopec Group is planning to invest more than $30 billion to expand in global markets, US-based financial network CNBC reported Monday, citing Dai Liqi, director of Sinopec`s foreign cooperation office. 

That would be about double the $16 billion that Sinopec spent from 2010-15 in outbound investment in about 30 countries and regions where the company has about 50 projects, Dai was quoted as saying in the report.

Dai did not specify the time frame for the increased investment.

"We are still quite poor in resources … in [Southwest China`s] Chongqing Municipality, we have discovered this new shale gas resource," Dai said, adding that "it`s still not enough to meet our needs and we have to furnish resources from abroad."

Sinopec recognized the challenges and has worked to "teach and train our own people to adapt to different countries, cultures and languages," according to Dai.

Sinopec has the money for continued overseas investment. It spent $1 billion to buy Chevron`s assets in South Africa in 2016.

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 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin in September 23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: m.balanzskin.com.

China unveils detailed plan to cut overcapacity in steel, coal

Source: www.chinamining.org     Citation: Xinhua       Date: May 15, 2017

BEIJING - China will phase out about 50 million tons of crude steel capacity and over 150 million tons of coal capacity this year, the country`s top economic planner announced Friday. 

By the end of June, all facilities producing inferior-quality steel bars will be dismantled and supply of steel will be increased to avoid wild fluctuations of steel price, according to the implementation plan for cutting excess capacity in steel and coal sectors released by the National Development and Reform Commission and other departments.

As of Wednesday, 31.7 million tons of steel and iron capacity and 69 million tons of coal capacity have been cut, accounting for 63.4 percent and 46 percent of the annual goals.

The government will take more steps to help laid-off workers find work and encourage industrial mergers and reorganization, according to the plan.

The overcapacity cuts will target debt-laden "zombie enterprises" and adopt more methods based on market rules.

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 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin in September 23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: m.balanzskin.com.

CNOOC strikes oil, gas at S.China Sea exploration well

Source: www.chinamining.org     Citation: Reuters       Date: May 12, 2017

China`s CNOOC Ltd has struck "fairly good oil and gas flows" at a high-pressure exploration well in the Yingqiong basin in the western part of South China Sea, according to a statement posted at an official government website on Wednesday. 

The Yuedong 30-1-1 well strikes mostly gas flows

Its successful completion marks technological breakthrough in high-pressure and high-temperature wells

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 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin in September 23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: m.balanzskin.com.