Related News

Chinese gold demand seen flat to lower this year

Source: www.chinamining.org   Citation: Reuters   Date: Jun.20, 2014

Private sector gold demand in China, which last year surpassed India to become the world`s biggest consumer of the yellow metal, will be flat to slightly lower this year, a China Gold Association official said on Thursday.
   
Demand for gold jewelry in China remains strong but interest in gold bar investments is soft compared with last year because of concerns about further weakness in the gold price, said Xin Song, president of the China Gold Association.
   
Although gold gained nearly 3 percent on Thursday to rise above $1,310 an ounce on the back of a drop in the dollar, bullion prices are still down 22 percent since the start of last year and a third below their all-time peak in September 2011.
   
"Demand will be almost the same as last year, or a little bit less ... But for sure it will be over 1,000 tonnes," said Song, who was in Vancouver for an industry conference.
   
Chinese gold demand soared 41 percent last year to 1,176 tonnes, according to association figures. But in the first quarter of 2014, the increase in demand slowed to 0.8 percent to 323 tonnes, as a 44 percent slump in bar demand offset a 30 percent rise in jewelry demand. Gold bars are commonly used as either gifts or for investment.
   
Figures for second-quarter China gold demand will be published next month, Song said.
   
Robust Chinese demand has helped provide a floor for gold prices, which have been under pressure as a shift in U.S. Federal Reserve policy toward curbing monetary stimulus has reduced the appeal of gold as a safe haven and as gold-backed exchange-traded funds have been hit by big outflows.
   
China`s rising demand has helped counter a drop in demand in India, where a high current account deficit has forced the government to impose curbs on gold imports.

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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on October 20^th -23^rd , 2014. We invite you to join the event and to celebrate the 16^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2014, please visit: m.balanzskin.com.

China`s 10 nonferrous metal output up 5.4% in Jan-Apr

Source: www.chinamining.org   Citation: China Knowledge   Date: Jun.03, 2014

The combined output of ten nonferrous metals rose 5.4% year on year to 13.55 million tons in the first four months of this year, according to the latest statistics released by the National Development and Reform Commission.
   
The output of aluminum electrolytic rose 8.5% year on year to 7.69 million tons in the four-month period. The output of copper and alumina oxide see a growth of 6.6% and 7.9%, respectively.
   
The output of lead dropped 3.2% year on year in the period, and the output of zinc decreased 0.6% year on year in the first four months.
   
In Apr, the prices of major nonferrous metals reflect a decrease from Mar 2014. The average prices of copper and zinc futures on the Shanghai Futures Exchange stood at RMB 46,240 and RMB 14,731 per ton, down 5.4% and 1.7% from a month earlier, respectively. The average price of aluminum electrolytic was stood at RMB 12,843 per ton, down 2.2% from Mar or 11.8% from a year earlier.

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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on October 20^th -23^rd , 2014. We invite you to join the event and to celebrate the 16^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2014, please visit: m.balanzskin.com.

China restarting idle aluminum capacity as prices rebound

Source: www.chinamining.org   Citation: Reuters   Date: May.29, 2014

Chinese aluminum smelters are restarting some idled capacity after prices of the metal rebounded from five-year lows hit in March, also taking advantage of lower power costs promised by a province in the southwest, industry sources said.

The restarts could again drag on domestic prices in the world`s top producer and consumer of aluminum, triggering higher exports of both primary aluminum and its products and in turn weighing on the global market.

Severe oversupply of primary aluminum pushed down China`s domestic prices in March to their lowest since 2009, hitting smelters with massive losses and forcing them to close high-cost capacity. Aluminum on the London Metal Exchange had in February also been at its lowest in about 4-1/2 years.

Between late 2013 and end-April about 2 million tonnes of smelting capacity was closed in China, according to estimates by analysts at Xinhu Futures and state-backed research firm Antaike and executives at two smelters. That represented about 9 percent of the 23 million tonnes of annual capacity that was operating in December 2013 based on output data.

"About a quarter of the 2 million tonnes of closed capacity could be restarted in coming months," said an executive at a state-owned smelter. He declined to be named because he was not authorised to talk to media.

Antaike`s analyst Guo Qiuying in Beijing and Xinhu`s analyst Xu Hongping in Shanghai also expected some 500,000 tonnes of idled capacity to be restarted before the end of the year.

The nation`s top producer Aluminum Corp of China Ltd , hit by the tumbling prices, had reported a net loss for the first quarter twice that of a year ago.

But the capacity cut, couple with now firmer prices on the London Metal Exchange, have pushed up China`s aluminum market, with spot metal up about 8 percent from the March trough.

The prices are also expected to rise further as raw material costs climb due to Indonesia, the top bauxite supplier of China, halting exports of unprocessed ores in January.

Bauxite is the ore used for the production of alumina, the main raw material for primary aluminum output, and the shortages out of Indonesia are expected to curtail Chinese alumina production later this 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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on October 20^th -23^rd , 2014. We invite you to join the event and to celebrate the 16^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2014, please visit: m.balanzskin.com.

China refined copper output falls 1.6 percent on month in April

Source: www.chinamining.org   Citation: Reuters   Date: May.19, 2014

China`s production of refined copper inched down 1.6 percent on-month in April after maintenance cut production at two smelters and insufficient supply of scrap raw material drove down smaller plants` output.

China, the world`s top producer and consumer of refined copper, produced 584,277 tonnes of metal in April versus 594,075 tonnes in March, data from the National Bureau of Statistics showed on Friday.

The April production was lower than what was expected by state-backed research firm Beijing Antaike Information Development, the firm`s senior analyst Yang Changhua said. "I was surprised by the lower monthly official figure," Yang said, citing data collected by the firm.

He said that the firm had estimated the output should have risen from March. Tongling Nonferrous Metals closed 400,000 tonnes of smelter capacity for maintenance, a company spokesman said last month.

Production of refined copper from Jinchuan Group has fallen after one of two oxygen supply systems unexpectedly broke down in March.

The downed system is expected to be fixed by the end of June, a company source said.

Some refined copper producers faced insufficient supply of scrap raw material after weak prices and tight credit cut importers` spot buying last month and restricted selling of their stocks, industry sources said.

The April output was up 5.2 percent from a year earlier.

In the first four months of the year, refined copper production rose 6.4 percent on the year to 2.24 million tonnes, the data showed.

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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on October 20^th -23^rd , 2014. We invite you to join the event and to celebrate the 16^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2014, please visit: m.balanzskin.com.

China int’l energy cooperation: 5 great int’l oil and gas areas in 20 years

Source: www.mlr.gov.cn   Citation: www.chinamining.com.cn   Date: Oct. 8, 2013

As an oil importer in 1993, China has been exploring the way how to carry out the effective international energy cooperation. With the passing of twenty years, the policy of “going out “to seek resources has obtained great achievements. From the seminar on China international energy cooperation for 20 years, the reporter learned that China had conducted more than one hundred international oil and gas cooperation programs in 33 countries and established five great international oil and gas cooperation areas up to now.

In the press conference of “China International Energy Cooperation Report 2012/2013” sponsored by RUC and co-sponsored by CIEESS, that is, the seminar on China international energy cooperation for 20 years, a number of guests at home and abroad explored the following three agendas, the sustainable development of China international energy cooperation, international cooperation mode on the future energy and the reconstruction of international energy management, taking the opportunity of China international energy cooperation for 20 years.

The press conference and seminar, mainly characterized by the academics, authority, cooperation and business are strongly supported by the energy and environment agencies, such as Energy Research Institute National Development And Reform Commission, National Center for Climate Change Strategy and International Cooperation, Oil and Gas Resources Strategic Research Center of Ministry of Land and Resources, Multinational Company Studies Center of the Research Institute of the Ministry of Commerce, International Energy Strategy Research Center of China Institute of International Studies, CNPC Research Institute of Economics and Technology, State Grid Energy Research Institute and Energy and Diplomacy Research Center of China Foundation for International Studies, fully reflecting the joint characteristics of industrialization-learning-research.

Dr. Xu Qinhua, director of CIEESS, issued the annual “China Energy Cooperation Report 2012/2013” in the conference which was one of RUC’s research reports. The theme of this year’s report was “The Development of International Energy Finance and China”. The report reviewed the China international energy cooperation development achievements and influence for 20 years, and carried on the comprehensive analysis on the 2012~2013 annual international energy situation. The report made a profound analysis of and explanation on the issues ranging from the international financial path of energy industry to research on the system establishment of strategic energy reservation, from the oil pricing right to the discussion on financing system of energy industry. The report also analyzed the status and development of the energy supply area in the world from the perspective of geopolitics, providing an important reference for china energy development and energy enterprises to “go out” in the next period. (Translated by TLRHVC)

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 2013 will be held at Meijiang Convention and Exhibition Center in Tianjin on November2-5, 2013. We invite you to join the event and to celebrate the 15th anniversary of CHINA MINING with us. For more information about CHINA MINING 2013, please visit: m.balanzskin.com.

A Slight Increase to Coke Production This Year

Source: www.mlr.gov.cn   Citation: www.chinamining.com.cn   Date: Feb. 27, 2014

On the 2013 coking industry information conference and 2014 market operation seminar, Cui Pijiang, chairman of China coking industry association, said China’s coking industry maintained a steady development in 2013, and it would remain stable this year. Besides, there would be a slight increase to the coke production, and the top priority would still be improvement of operation quality and efficiency.

Statistics show that in 2013, 709 million tons of cast iron were produced in China, 6.2% up  from a year earlier. Coke production increased to 476 million tons, 8.1% up, faster than that of cast iron. Due to the cancellation of the coke export tariffs, the coke export growth was quite evident.

Coking production capacity growth promoted the standard of technical equipment and optimized the industrial structure. According to the statistics from China coking industry association, in 2013, the country put 43 new coke ovens into production and the coke production capacity increased by 26.6 million tons. By the end of 2013, the production capacity of large and medium-sized coking chambers over 5.5 meters high in China added up to 250 million tons, accounting for more than 40% of the total output of the traditional machine coke ovens.

In recent 3 years, although the coking industry has been making modest profit in general, about 40% enterprises incurred losses a year. The management efficiency of independent coking enterprises is polarizing. In areas of high coke consumption, coking enterprises with a good job on coke oven gas utilization and petrochemical product recycling and processing made a good profit last year.

In 2014, coking industry has entered the era when transformation and upgrading, energy conservation and emission reduction along with quality and efficiency improvement are given more and more priority. It is facing a lot of difficulties and problems, mainly embodied in five aspects. First, the guarantee of cheap factor supply decreased. Second, constraints from resource utilization and environmental protection enhanced obviously. Third, the task to digest the excess production capacity and eliminate backward production capacity is difficult. Fourth, the enterprise management is extensive, independent innovation ability is not strong and all kinds of talents are in shortage. Fifth, the environment for coking industry to exist and develop needs improving. (Liu Jin) (Translated by TLRHVC)

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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on October 20-23, 2014. We invite you to join the event and to celebrate the 16th anniversary of CHINA MINING with us. For more information about CHINA MINING 2014, please visit: m.balanzskin.com.

China Grabbed the “White-submarine Chimney” for the First Time in South-West Indian Ocean

Source: www.mlr.gov.cn   Citation: www.chinamining.com.cn  Date: Feb. 25, 2014

18:30 Feb-18, at the 8th operation station in the second leg of the 30th ocean exploratory voyage, Vessel “Da Yang Yi Hao” successfully grabbed 3 blocks of columnar carbonate rock and a section of carbonate “Chimney stack” by using video from the South-West Indian Ocean poly-metallic sulfide exploration contract zone.

On site sampling the chief scientist Tao Chunhui said: “We’ve got the rock sample of carbonate, but no evidence related to hydrothermal activity. Thus, getting the ‘White submarine chimney has an importance value on the research of the relationship of carbonate and hydrothermal activity in this area.”

The samples grabbed in this underwater operation include carbonate, ‘carbonate chimney’ and calcareous ooze. There is a ring-shaped structure in the inner of the complete carbonate chimney, with branches, pores and biological attachments; we preliminarily deduced that is related to the low temperature hydrothermal activity. And this is the first classic carbonate chimney stack China got in South-east Indian Ocean up to now.”

According to Tao Chunhui, China expedition team got a big quantity of carbonate samples in this area. But unfortunately, they haven’t gained the ‘chimney stack’ sample which is relevant to hydrothermal activity.”

China University of Geosciences professor Xu Qidong, the geological sample description stuff of the second leg, analyzed: “The discovery of the chimney is relevant to the carbonate and the low temperature hydrothermal activity in the area. The similar rocks we found in the adjoining area must be the same sort of things, which is helpful for us doing research and determining the scope of hydrothermal zone. Despite the sample is not only tiny and small, but it can lead to the break of the research of carbonate genesis of the South-east Indian Ocean.”

The scientist from Russia marine geology institute viewing the whole journey said that he used to see the carbonate chimney from the Atlantic Ocean. China’s successful grabbing of carbonate chimney was excellent evidence. （Lu Tao）(Translated by TLRHVC)

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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on October 20-23, 2014. We invite you to join the event and to celebrate the 16th anniversary of CHINA MINING with us. For more information about CHINA MINING 2014, please visit: m.balanzskin.com.

China’s gold production reached 428 tons in 2013, ranking world first for seven consecutive years

Source: www.mlr.gov.cn   Citation: www.chinamining.com.cn   Date: Feb. 11, 2014

The latest statistics from China Gold Association show that in 2013, China`s gold production reached 428.163 tons, 6.23% up from a year earlier, hitting a record high and ranking world first for seven consecutive years. Then again, China’s gold consumption exceeded 1000 tons in 2013 for the first time. 

The gold production of ten key gold producing provinces (areas), namely Shandong, Henan, Jiangxi, Inner Mongolia, Yunnan, Hunan, Gansu, Fujian, Hubei, Xinjiang accounted for 82.94% of the total in China. Ten key gold enterprises in China are China National Gold Group Corporation, Shandong Gold Group Co., Ltd., ZIJIN MINING GROUP CO., LTD., Shandong Zhaojin Group Company Limited, Hunan Gold Group Co., Ltd., Eldorado Gold Corporation (China), Yunnan Gold Mining Group Co., Ltd, Shandong Zhongkuang Group Co., Ltd., Lingbao Gold Company Ltd. and Lingbao Jinyuan Mining Company Limited, the gold production of which accounted for 45.65% of the national total amount. 

In 2013, gold transaction volume in Shanghai Gold exchange reached 11614.452 tons with a turnover of 3.2133844 trillion Yuan. The Shanghai Futures Exchange completed 40.17565 million gold future contracts with a turnover of 10.709062 trillion Yuan. 

In addition, according to the latest statistics from China Gold Association, in 2013, China’s gold consumption exceeded 1000 tons to 1176.40 tons for the first time, up by 41.36% from a year earlier. Among them: gold for jewelry was consumed 716.50 tons, up by 42.52% year on year; gold for gold bars 375.73 tons, up by 56.57%; gold for gold coins 25.03 tons, down by 1.07%; gold for industry 48.74 tons, 0.23% down; gold for other purposes 10.40 tons, down by 32.03%. (Translated by TLRHVC)

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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on October 20-23, 2014. We invite you to join the event and to celebrate the 16th anniversary of CHINA MINING with us. For more information about CHINA MINING 2014, please visit: m.balanzskin.com.