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China moves to reduce non-ferrous metal overcapacity

Source: www.chinamining.org        Citation: Xinhua     Date: June 17, 201

The Chinese government on Thursday released a guideline on new capacity and reducing overcapacity in the non-ferrous metal sector.

The guideline aims to dissolve excess capacity and balance supply and demand of non-ferrous metals, the State Council, China`s cabinet, said in a statement on its website.

The government will control new capacity for metals already with overcapacity, such as electrolytic aluminum, and take measures against illegal addition of capacity.

Non-ferrous metal producers are encouraged to cut low-efficiency capacity and make adjustments in development strategies.

The statement added that the country will optimize the sector`s overall structure, raising the proportion of recycled non-ferrous metals.

Excess production capacity is a chronic problem for some non-ferrous metals. In 2015, production of 10 major non-ferrous metals -- aluminum, antimony, copper, lead, magnesium, mercury, nickel, stannum, titanium and zinc -- rose 5.8 percent to 50.9 million tonnes.6

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.

Global zinc market`s deficit down in April: ILZSG

Source: www.chinamining.org        Citation: Reuters    Date: June 16, 2016

The global zinc market saw a deficit of 2,500 tonnes in April after a 20,400 shortfall in March, data from the International Lead and Zinc Study Group (ILZSG) showed on Wednesday.

The market saw a surplus of 24,000 tonnes in the first four months of the year down from a surplus of 185,000 tonnes in the same period last year.

China`s mine output of zinc content rose five percent to 456,000 tonnes in April. Analysts say higher zinc prices are behind rising output in China.

Benchmark zinc on the London Metal Exchange at around $2,050 a tonne is up about 27 percent so far this year due to worries about shortages.

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 company to boost Serbian metal industry: experts

Source: www.chinamining.org        Citation: Xinhua     Date: June 16, 2016

The Smederevo steel mill stands a good chance to recover and develop after it was sold to Chinese HeSteel Group (HBIS), experts and officials said.

Ljubisa Obradovic, secretary of the association of the metal-electro industry, metal mines and metallurgy at the Serbian Chamber of Commerce, said the Serbian metal-electro industry gained a lot by the arrival of Hesteel.

"The arrival of Hesteel to Serbia opens huge potential in the metal-electro industry and mining in the sense that the level of production will double," he told Xinhua.

Slobodanka Susa, director of the Serbian Association of the Steel Industry, said the steel mill is an important part of the "infrastructure of the Serbian economy" and new investors will need money to improve technology and offer a wider range of products.

"The HBIS is one of the biggest in the world and have the possibility to have cheap raw material to produce steel in Smedervo and that is most important for continuity of production in Smederevo," she said.

She explained that the continuation of production in Smederevo means regular delivery to domestic markets and to exports. For Serbia it means it can expect an increase in economic activity.

The Smederevo steel mill was founded in 1913. After it went bankrupt in 2003, it was sold to U.S. Steel for the price of 23 million U.S. dollars.

Serbia became the owner of the steel mill once again in 2012 when the investor from the United States withdrew and the country bought the factory back for 1 U.S. dollar. After the departure of U.S. steel, the country was looking for a new investor, while the company`s 5,000 workers were sent on paid leave until April 2013 when the furnaces of the steel mill in Smederevo started operating again with limited capacity.

HBIS was the sole competitor at a tender which finished on April 6, and bought the factory for 46 million euros (51.6 million U.S. dollars).

Many workers were glad as the takeover of the steel mill ended years of uncertainty.

For Goran Gigic, a 38-year-old shift manager, the steel mill will gain a lot by becoming a part of Hesteel.

"I expect that production will increase, new technologies implemented, to work more and live better from our work," Gigic said.

Ivan Matkovic, 37, a deputy shift manager who spent 16 years in Smederevo, hoped the new owner will increase financial investments.

"We hope for better times, and that we continue to work professionally as always," he 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.

Leading gold producer sees output reach record high

Source: www.chinamining.org        Citation: Reuters    Date: June 16, 2016

Chinese steel and iron ore futures dropped for a second day on Wednesday, reflecting concerns over weak demand as construction activity slows during the summer.

After months of strong steel production as mills responded to a rally in prices earlier this year, output in China, the world`s top producer, could slow along with consumption, the China Iron and Steel Association warned.

"With waning demand and falling steel prices as summer enters, and against the backdrop of cutting overcapacity, there is a small possibility that steel production would continue expanding, and iron ore demand will unlikely rise," the industry group said in a report on its website.

China`s crude steel output rose 1.8 percent to 70.5 million tonnes in May from a year ago, the second time production topped 70 million tonnes this year, government data showed on Monday.

Output hit a record high of 70.65 million tonnes in March when a surge in steel prices spurred mills to boost output and the shuttered ones to resume operations.

Along with the summer lull, the momentum to build new housing units in China has somewhat cooled off, curbing future steel demand, said Argonaut Securities analyst Helen Lau.

The most-traded rebar, or reinforcing steel used in construction, on the Shanghai Futures Exchange was down 2.3 percent at 2,076 yuan a tonne by 0308 GMT.

On the Dalian Commodity Exchange, the most-active iron ore slipped 1.9 percent to 358.50 yuan a tonne.

Deals in the physical iron ore market were scarce this week, with little appetite for fresh seaborne cargoes and those stocked at China`s ports, traders said.

Iron ore for immediate delivery to China`s Tianjin port fell 1.9 percent to $50.80 a tonne on Tuesday, the lowest since June 6, according to The Steel Index.

The spot benchmark is 26 percent below this year`s peak reached in April, as the steelmaking raw material tracked the ensuing decline in Chinese steel prices.

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.

Leading gold producer sees output reach record high

Source: www.chinamining.org     Citation: Xinhua    Date: June 15, 2016

China National Gold Group Corp (CNGGC), the country`s leading gold producer, said on Tuesday that its output reached a record high of 16.9 tons during the first five months of the year, up 8.93 percent year on year.

Despite low gold prices, the company made 515 million yuan ($78.27 million) in profits during the period.

China`s gold industry is in a downturn. Revenues of the top 10 gold companies amounted to 86.4 billion yuan during the first quarter, down 1.88 percent from one year earlier.

The gold industry is faced with not only complex and demanding challenges, but also great development opportunities, said Song Xin, general manager of CNGGC.

Technological innovation is the most effective way to improve gold producers` competitiveness, Song said, adding that the company will continue to enhance its innovation capacity.

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 potential oil, natural gas reserves rise: official data

Source: www.chinamining.org        Citation: Xinhua     Date: June 14, 2016

China`s estimated oil and natural gas reserves have risen markedly in the past few years as prospecting has increased, the latest official assessment showed.

Potential oil resources now reach 126 billion tonnes, with an extractable amount of 30 billion tonnes, the Ministry of Land and Resources announced Monday, citing results of a national assessment completed in 2015.

The numbers are up 64 percent and 42 percent, respectively, from the the last such assessment in 2007, the ministry said.

The country is estimated to have 90 trillion cubic meters of natural gas resources, 50 trillion of which can be exploited, up 158 percent and 127 percent from the last assessment.

The ministry attributed the growth to increased exploration and better technology.

China is thought to be rich in unconventional oil and gas resources, with 122 trillion cubic meters of shale gas no more than 4,500 meters underground, 22 trillion of which is exploitable, according to the ministry.

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.

Inner Mongolia coal output in sharp decline

Source: www.chinamining.org    Citation: Xinhua    Date: May 25, 2016

China`s second-largest coal-producing region, Inner Mongolia, saw a 16.8-percent decline in coal output in the first four months of the year as it pushed forward supply-side reform.

The northern region churned out 250.9 million tonnes of raw coal in the Jan.-April period, its coal mine safety department said on Tuesday.

Facing excess capacity, the region has been moving to slash coal production capacity.

Major state-owned mines are the most affected as they slashed output by nearly one third to 192.5 million tonnes in the four months.

Boosted by the sharp decline in output and a recovering economy, China`s coal prices have started to rise, ending a slump that has lasted for several years amid a slowing economy, the department said.

The rise in prices, however, triggered output increases of up to 374 percent at smaller state-owned mines.

Shanxi, the country`s largest coal-producing region, has also been rolling out measures to advance supply-side reform.

The Shanxi provincial government said on Monday that it would stop approving new coal mining projects and slash coal production capacity by over 100 million tonnes in the years to 2020.

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.

Russian oil exports to China hit record high in April

Source: www.chinamining.org        Citation: www.rt.com     Date: May 24, 2016

Beijing has ramped up imports of Russian oil by 52.4 percent last month compared to a year earlier. China`s General Administration of Customs calculated a record 4.81 million tons.

In March, China bought 4.65 million tons of oil from Russia.

Russia, Saudi Arabia and Angola were China¡¯s three major oil suppliers last month.

April imports from Saudi Arabia fell by 22 percent year-on-year to 4.12 million tons. In March, China imported 3.98 million tons of oil from the country.

China increased year-on-year oil imports from Angola last month by 39 percent to 3.98 million tons. Imports from Iran in April fell by 5.1 percent yoy to 2.76 million tons.

An International Energy Agency report showed that at the end of 2015 Russia overtook Saudi Arabia as the biggest crude exporter to China.

Russian exports to China have more than doubled over the past five years, up by 550,000 barrels a day. Moscow and Beijing have significantly increased energy cooperation, with a wide range of multibillion dollar projects.

Russian oil transport monopoly Transneft¡¯s Vice-President Sergey Andropov said in March that China is ready to import 27 million tons of Russian crude this year via the Eastern Siberia-Pacific Ocean (ESPO) pipeline. Supplies to China through the ESPO pipeline started in 2011 after Rosneft, Transneft and China National Petroleum Corporation (CNPC) signed contracts two years earlier. Currently five million tons of crude are supplied through the pipeline annually, and this is expected to rise to 15 million tons a year.

Experts say Chinese imports of Russian oil are likely to stay high over the coming years due to long-term crude supply contracts and rising demand from the world`s second biggest oil consumer.

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.