Sino-Russian gas trade set for boom time

Source: www.chinamining.org     Citation: Global Times         Date: Aug.7, 2017

Construction of joint venture Amur processing plant kicks off

Experts told the Global Times Friday that with China`s plan to increase usage of natural gas as well as Russia`s geographical advantages, the two countries` natural gas trade will continue to boom in the coming years.

The Amur natural gas processing plant project, a joint venture of the Hubei-based China Gezhouba Group Corporation and the Russian gas industrial giant Gazprom, started construction on Thursday.

Located in Amurskaya Oblast of Russia and about 200 kilometers from the Heihe River in Northeast China`s Heilongjiang Province, the plant is the source of the east line of the China-Russia Natural Gas Pipeline, according to a statement posted on the official website of China Gezhouba Group Corporation.

Once completed, the plant will have a natural gas processing capacity of 42 billion cubic meters and annual helium production capacity of 6 million cubic meters, which will make it the largest natural gas processing plant in Russia and one of the largest in the world, the statement said.

China and Russia have been beefing up efforts to increase the natural gas trade with natural gas supply agreements and infrastructure construction.

An agreement was signed in 2014 by Gazprom and the China National Petroleum Corporation (CNPC) that 38 billion cubic meters of gas would be shipped to China through the east line every year for a 30-year period starting from 2018. Total investment in the east line, which is still under construction, amounts to some $400 billion.

The two countries have also talked about building a west line of the China-Russia Natural Gas Pipeline, though the process is not as smooth as the east line, according to domestic media reports.

If the two lines are both completed as planned, Russia will become the biggest natural gas exporter for China, Lin Boqiang, dean of the China Institute for Studies in Energy Policy at Xiamen University, told the Global Times Friday.

According to Lin, the growing cooperation results from the fact that China`s demands for natural gas are increasing, but the country`s resources are running low.

The Chinese government has set a goal that consumption of natural gas should account for up to 10 percent of entire energy consumption by the end of 2020. "This means that natural gas supply should increase by at least 15 percent year-on-year in the next few years," Lin said.

According to Lin, the fact that Russia borders China is also an advantage for the two countries` gas cooperation.

"At least trade wouldn`t be affected by political relations between Russia and other countries," he said.

Apart from natural gas, the two countries have also built two oil pipelines under the China-Russia crude oil pipeline project.

"This is a golden era for the two countries` energy cooperation, as China is thirsty for overseas energy, while Russia is anxious to sell its resources in exchange for money to boost its sluggish economy," he said.

But he noted that China should work to enter the upstream sections of Russia`s energy industry, such as building joint ventures with Russian companies to dig for natural gas or oil, though obstacles might remain as Russia is quite protective about its energy resources.

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 19th anniversary of CHINA MINING with us. For more information about CHINA MINING 2017, please visit: m.balanzskin.com.

Thinking on the Clean and Efficient Development of Coal and Electricity Industry

Recently, the National Development and Reform Commission, the National Energy Board issued the "energy production and consumption of the revolutionary strategy (2016 ~ 2030)", from the centralized use of coal to promote the clean use of coal to promote green production in three areas of the clean and efficient production and utilization of coal industry The For the coal industry, to promote the use of coal clean and become the current and future period of the most important objectives and tasks. Coal and electricity industry to promote the use of coal clean is mainly reflected in the continuous improvement of coal efficiency, reduce coal consumption, and comprehensively promote world-class level of energy efficiency standards; to speed up the existing coal-fired unit upgrade, Technology, the construction of efficient, ultra-low emission coal power units to promote the realization of coal-fired power plant emissions of major pollutants to achieve the level of gas power plant emissions, the establishment of the world`s cleanest coal and electricity system. As we all know, coal is a high-carbon energy, but also China`s basic and pillar of energy, is still occupied more than 60% of China`s energy, coal-based energy structure in the longer period is difficult to change. According to statistics, coal-fired power plant coal consumption accounts for about half of the total coal consumption, the future will be higher. China`s CO2, SO2, NOx and soot emissions rank first in the world, with 50%, 38%, 43% and 17% of the total emissions from coal-fired power plants. Therefore, if the coal combustion process is not efficient purification of dust, will inevitably lead to air pollution. For coal-fired power plants, the author believes that to improve the boiler and power plant power generation efficiency is necessary to reduce the power plant power consumption. The main measures and technical path in this regard are as follows.

(1) the use of supercritical and ultra-supercritical coal-fired units. General coal-fired power generation efficiency of about 40%, 42% of supercritical units, ultra-supercritical units up to 45% to 50%, the global supercritical and above the unit has more than 600 Taiwan, China has more than 150 Taiwan. For example, Huaneng Group in Jiangxi completed and put into operation China`s first ultra-supercritical secondary reheat power plant; Huadian Group has the world`s first million-kilowatt ultra-supercritical air-cooled unit Ningxia Lingwu Power Generation Co., Ltd., Huadian Jurong power plant built 2 × 100 million kilowatts ultra-supercritical coal-fired units, is the highest level of domestic single-class, the best efficiency of the generating units; Datang Group`s Tuoketuo power plant five projects 2 domestic 660,000 kilowatts ultra-supercritical units all put into operation , Became the world`s largest thermal power plant in power; Guodian Beilun power plant three expansion project second million kilowatts ultra-supercritical units have been officially put into commercial operation.

(2) The combined cycle power plant (CCPP), which is an integrated gasification gas turbine, can achieve 58% to 60% power generation efficiency and even more than 60% of some large units. Because the gas turbine for the continuous work of rotation, you can use the relatively low calorific value of fuel gas, at the same time, also has open, fast shutdown, running load adjustment range, speed and other characteristics, improve power generation efficiency, but also well meet the gas dynamic Balance the need to reduce the dispersion. In the case of a combined cycle power plant with two gas turbines installed, assuming an annual operating time of 4000 hours, the annual generating capacity of the M701F5 unit will increase by 360 million degrees compared to the M701F4 unit. The unit heat loss is reduced by about 180 kJ / kWh The emission of nitrogen oxides is reduced by about 3%, the annual generating capacity of the M701J unit will increase by 1.36 billion degrees, the unit heat consumption will be reduced by about 240 kJ / kWh, and the nitrogen oxides per kilowatt will be reduced by about 4% Which will bring the user a very substantial economic benefits. Düsseldorf, Germany Lausward combined heat and power plant, selected Siemens SGT5-8000H heavy engine as the "engine", its up to 61.5% of the net power generation efficiency, 603.8 MW of power installed capacity and 300 MW of heating Are the world`s most power plants at the same level.

(3) vigorously develop coal co-generation technology. Coal in the gasification and purification can be used to produce electricity, oil, ammonia and other chemical products, can increase 10% to 20% of coal utilization. Recently, after 20 years of scientific and technological research, Xi`an Jiaotong University, National Key Laboratory of multiphase power engineering "coal supercritical water gasification hydrogen power generation polygeneration technology" to 150 million yuan to complete the transformation of scientific and technological achievements, formally towards industrialization The Compared with the traditional coal-fired power generation and coal gasification hydrogen production technology, the new technology of power generation and hydrogen production efficiency has improved significantly, after a large increase in investment and operating costs are significantly reduced, innovative technology to lead the industry to change, The fire burning coal "era.

(4) to promote the implementation and application of carbon capture and storage (CCS) technology. CCS refers to a large power plant, steel plants, chemical plants and other emissions of CO or CO2 capture and separation, with various methods sealed in the depths of the ground to avoid its emissions into the atmosphere of a technology. It is understood that China has carbon capture and storage (CCS) technology as a cutting-edge technology included in the national long-term scientific and technological development plan. At present, part of the demonstration project of carbon dioxide capture, use and storage capacity has reached the scale of millions of tons. Specific to the coal industry, coal-fired power plant emissions of flue gas contains a lot of greenhouse gas CO2, each burning with 1 kg of coal will discharge 2.66 kg CO2. At present, China`s CCS capture and utilization technology has been in the coal-fired power plant boiler trial, made a lot of achievements and progress. For example, a variety of physical absorption and chemical absorption methods have been developed in CO2 capture technology. In addition, it has also developed a membrane separation method and an oxygen-enriched combustion method which facilitates the separation of CO2 from flue gas, but there is still a need to increase the capture rate. In March this year, China`s extension of the oil field carbon capture and storage integration project has started construction, which is Asia`s first commercial carbon capture and storage projects. The project will begin operation in 2018, each year from the National Coal Center in Shaanxi Province, a coal gas plant to capture 410,000 tons of carbon.

(5) to strengthen the coal front-end management. In contrast to the back-end treatment of coal, the washing at the forefront of the coal can initially solve the problem of fuel cleaning, and the low cost of front-end treatment can significantly reduce the load of back-end pollutant emissions, such as a significant reduction in sulfur Points, ash. The cost of coal preparation desulfurization is 8 to 10 times lower than that of the back-end flue gas desulfurization. It is an important role in the energy saving and emission reduction of coal-fired power plant boilers through coal cleaning and cleaning. According to statistics, each washed 100 million tons of coal can be 13 million tons of ash, sulfur 35 million tons, reducing CO2 emissions of 490,000 tons, excluding coal gangue more than 1800 million tons, can improve the boiler coal efficiency of 10% to 15%.

(6) efforts to prevent the collapse of coal and electricity overcapacity risk. By the implementation of the "small mark on the small" mandatory exit mechanism, China since the implementation of shutting down 100,000 kW inefficient small and medium-sized units, the development of supercritical pressure efficient large units, the national average coal consumption from 2005 370 g (/ KW · h) to 310 g (/ kW · h) in 2017, lower than the current international advanced coal consumption. Recently, the National Energy Board issued the "2020 coal mine planning and construction of early warning notice" that the national 32 provincial power grid area (including Mengdong, Mengxi), there are 25 regional warning status for the most serious warning Red, the risk of early warning results for the red and orange provinces, to suspend approval, to suspend the new construction of self-use coal projects, and under the guidance of the state, a reasonable arrangement in the construction of coal projects put into production timing. In view of the problem of overcapacity, the coal control project group of North China Electric Power University has carried on the research for many years. May 18, 2017, the research group released the latest research report "" thirteen "power industry coal control policy research" that the coal industry 2016-2030 development space peak is about 860 million to 960 million kilowatts. Specifically, the low-speed development scenarios, China`s coal development space is expected to peak in 2016, the peak is about 860 million kilowatts, to maintain 4 to 5 years after the gradual decline in the platform period. High-speed development scenarios, China`s coal development space is expected to peak in 2020, the peak is about 960 million kilowatts, followed by 10 years into the platform period.

In summary, the author believes that the country will clean and efficient coal development and utilization as a foothold and the primary task of energy transformation for China`s coal-fired power plant to change the mode of development, to achieve clean and efficient development provides a rare opportunity, but also the trend, to. At present, the coal industry to promote clean and efficient development of the technical path and approach measures have become more mature, can not seize the opportunity, homeopathy and difficulties, the test of business leaders wisdom and courage. I believe the coal industry will be able to firmly grasp and make good use of this strategic opportunity period, according to local conditions to choose a reliable path and approach to achieve the coal industry green science, clean and efficient development.

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 19th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: m.balanzskin.com.

SOE merger process expected to accelerate in coal, power

Source: www.chinamining.org     Citation: Global Times       Date: Aug.3, 2017

China`s centrally administered State-owned enterprises (SOEs) are steadily promoting the merger process this year as required by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), with a new merged company about to be born in the coal and power sector.

The merger plan for China Guodian Corp, one of China`s biggest coal-fired power generators and Shenhua Group, the country`s largest coal miner, has been reported to the State Council, China`s cabinet, and the new consortium was temporarily named National Energy Investment Group, Guan Weizhu, director of safety production department at Guodian Corp said Wednesday.

The planned merger will bring total assets worth more than 1.8 trillion yuan ($267.7 billion) to the new enterprise with a liability ratio of more than 60 percent, becoming the largest power generator in China, according to Guan.

"Combining the two enterprises is really a smart move because they occupy different positions on the industrial chain, having an upstream and downstream relationship," Feng Liguo, an expert at the Beijing-based China Enterprises Confederation, told the Global Times on Wednesday.

"The vertical merger between Guodian and Shenhua, which is bound to release more market economic value, is aimed at realizing the integration of coal and power by tapping into their respective resource advantages," Feng said.

On the same day, personnel changes in other companies triggered speculation of a possible merger of domestic automakers.

The heads of China FAW Group Corp, an automaker, and China South Industries Group Corp (CSGC), one of China`s largest military defense companies, will exchange their positions, China FAW Group announced on its website on Wednesday.

Xu Liuping was removed from his roles as director, general manager and deputy secretary of the Party committee at CSGC, as well as head of Changan Automobile Group, a subsidiary of CSGC, and appointed as the chairman and secretary of the Party committee of China FAW Group instead.

Xu Ping, the former chairman and secretary of the Party committee at China FAW Group, was appointed as chairman and secretary of the Party committee at CSGC. But no personnel change information was mentioned in the announcement in terms of Changan Automobile Group.

Auto industry insiders said the reversal of roles signals a merger. SASAC is likely to bring about a revolution in China`s auto industry by merging China FAW Group, Dongfeng Motor Group and Changan Automobile Group.

However, some experts are not very optimistic about the merger outlook for the vehicle sector due to the lack of core competitiveness for auto SOEs and their reliance on the joint venture policy. "The difficulty lies in the change of enterprise strategy in the market with customers being the center," Feng noted.

For example, if the merger plan affects China FAW Group, which has been embedded in the system and the Northeastern industrial culture for a long time, it will not only encounter changes in terms of the market and economy, but also changes in policy and politics, Feng 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 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 19th anniversary of CHINA MINING with us. For more information about CHINA MINING 2017, please visit: m.balanzskin.com.

China protects environment against illegal mining

Source: www.chinamining.org     Citation: Xinhua          Date: Aug.1, 2017

China`s top court on Thursday issued a judicial interpretation requiring local courts to accept public interest lawsuits against mining practices that have caused environmental damage.

Mining without a license or with unsustainable methods has caused great damage to the environment and its seriousness has been underestimated, said Zheng Xuelin, presiding judge of the tribunal for environmental resource cases at the Supreme People`s Court.

"The new judicial interpretation will raise people`s awareness of environmental protection," added Zheng.

To strengthen environmental watchdogs, the judicial explanation stipulates that courts should make suggestions to local environmental departments and designate them to handle cases involving mining without a license or fabrication of documents, among other offences.

Environmental departments are better in dealing with such cases and the major force for environmental protection, Zheng said.

Suspected criminal offences should be transferred to investigative organs, said the interpretation which went into effect Thursday.

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 19th anniversary of CHINA MINING with us. For more information about CHINA MINING 2017, please visit: m.balanzskin.com.

Premier Li urges steadfast efforts to cut overcapacity

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

Chinese Premier Li Keqiang has called for steadfast efforts to push overcapacity cuts after government inspections found that a number of steel mills were trying to resume production of inferior-quality steel bars.

"We must stand firm in capacity-cutting efforts to prevent shutdowns in production from flaring up again," Li said in an instruction note on the findings of an inspection by the State Council.

Those breaking government rules will be strictly punished, and authorities with weak supervision will be held accountable, the premier said.

China`s State Council requires all facilities producing inferior-quality steel bars to be dismantled across the country by the end of June, but the inspection found two mills in Tianjin were still in business while one company shutdown in Hunan Province was seeking to restart production.

As excess capacity has weighed on China`s overall economic performance, cutting overcapacity is high on the reform agenda. In 2016, China completed both its annual targets for coal and steel capacity reduction ahead of schedule.

The government work report this year stated that China would continue to cut overcapacity in bloated sectors, with targets to slash steel production capacity by around 50 million tonnes and coal by at least 150 million tonnes 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 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 19th anniversary of CHINA MINING with us. For more information about CHINA MINING 2017, please visit: m.balanzskin.com.

China does not harm global aluminum industry: MOC

Source: www.chinamining.org     Citation: People`s Daily Online       Date: July 28, 2017

Gao Feng, spokesperson for China’s Ministry of Commerce, has denied reports saying that supply exceeding demand of China’s aluminum products and more support from the Chinese government have damaged the global aluminum industry at a routine press conference on July 27, China News reported.

The spokesperson stressed supply and demand of China’s aluminum products is basically balanced, and unremitting efforts as well as continuous technical improvements in China’s aluminum industry has contributed to its rapid development rather than support from the government.

Gao added that, although China is a major exporter of aluminum products, it mainly exports to countries in short supply of aluminum products in order to support their local economies—normal market activity.

In addition, China is willing to make joint efforts with other aluminum producers, including the U.S., to promote the sound, stable development of the global aluminum industry, the spokesperson noted.

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 19th anniversary of CHINA MINING with us. For more information about CHINA MINING 2017, please visit: m.balanzskin.com.

Shandong Province, the first half of coal enterprises to achieve profits of 8.657 billion yuan

From the Shandong Provincial Coal Industry Bureau was informed that the first half of this year, Shandong Province, the cumulative production of 63,179,300 tons of raw coal, down 3.71%, the province`s coal enterprises to achieve full operating income of 259.352 billion yuan, an increase of 125.51%, profits of 8.657 billion yuan, Increased by 8.990 billion yuan, tons of coal prices rose nearly 8 percent.

In the context of the main theme of the market is still the main theme of the market, from January to June this year, Shandong Province, the cumulative production of coal coal 63,179,300 tons, down 3.71%; sales of commercial coal 61.175 million tons, down 4.19%. The situation in June, raw coal production was 10.9049 million tons, down 0.24%, the province`s coal stocks ending 233.38 million tons, the chain decreased by 584,900 tons.

From the operation of coal enterprises, from January to June, the province`s coal enterprises to achieve full operating income of 259.352 billion yuan, up 125.51%; main business income of 228.610 billion yuan, an increase of 160.67%; profits and taxes 24.451 billion yuan, year on year An increase of 195.41%; to achieve profits of 8.657 billion yuan, turn loss increased by 89086.33 million yuan.

From the coal sales price situation, the Shandong Provincial Coal Industry Bureau monitoring data show that the first half of Shandong Province, the average selling price of commercial coal increased year on year, the provincial coal enterprises commercial coal price of 595.16 yuan / ton, an increase of 263.23 yuan / ton, Was 79.3%. From the national situation, June 23, China`s coal price index (the national composite index) was 153.7, up 35.4 points.

Shandong Coal Industry Bureau, said in July, the province`s coal market showed steady upward trend, coal prices have increased coal prices, in the thermal coal, as of 19 days, most of the province`s coal enterprises have completed two rounds of thermal coal price.

In the coking coal, as of 19, the provincial coal enterprises have twice raised the price of coking coal, the cumulative rate of 50 yuan / ton. According to the 17th release of Shandong coal mine coal price index shows that gas coal is 850 yuan / ton, up 278 yuan, 1/3 coke coal 1090 yuan / ton, up 470 yuan, 1/3 coke coal 952 Yuan / ton, up 336 yuan.

China to shut down all mercury mines by 2032

Source: www.chinamining.org Citation: Global Times Date: July 23, 2017

China’s Ministry of Environmental Protection announced on Thursday that the country will shut down all its mercury mines by 2032. 

Based on the Minamata Convention on Mercury, which will take effect on August 16, China also plans to phase out the production and usage of both batteries containing mercury and fluorescent lamps by 2020. 

Mercury is a toxic metal and can cause health problems in humans as well as, in extreme circumstances, death. According to the United Nations Environment Programme, mining alone exposes up to 15 million workers in 70 different countries to mercury poisoning, including child labourers. 

China is currently the largest mercury consumer in the world. A report by the China Nonferrous Metals Industry Association in 2013 reported that the country`s annual consumption is nearly 1,000 tonnes, or half of the planet`s total. 

China ratified the Minamata Convention on Mercury in 2016. Currently, 128 countries and regions in the world have signed the agreement.

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 19th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: m.balanzskin.com.

China, U.S. recognize that steel overcapacity requires global solution

Source: www.chinamining.org Citation: Xinhua Date: July 21, 2017

Chinese Vice Minister of Finance Zhu Guangyao speaks at a press briefing after the conclusion of the first China-U.S.
Comprehensive Economic Dialogue (CED) in Washington D.C., the United States, July 19, 2017.

Both China and the United States recognized that steel overcapacity is a global issue that requires a global solution, a senior Chinese official said Wednesday.

At a press briefing after the conclusion of the first China-U.S. Comprehensive Economic Dialogue (CED) in Washington D.C. on Wednesday, Chinese Vice Minister of Finance Zhu Guangyao said the two sides discussed the issue of steel overcapacity during the one-day high-level economic dialogue.

China shared the same view with the United States that steel overcapacity is a global issue, which requires a global collective response, Zhu said, adding China also emphasized that the excess steel capacity was a result of sluggish global economic recovery.

Meanwhile, the Chinese delegation told the U.S. side that China had actively taken measures to cut steel overcapacity, Zhu said, citing China`s plans to reduce steel capacity by 100 million to 150 million tons from 2016 to 2020.

As the world`s two largest economies and co-chairs of the global forum on steel excess capacity, China and the United States have maintained policy dialogue and communication regarding the steel glut, Zhu said, noting G20 leaders agreed to establish the forum at last year`s Hangzhou summit.

At the G20 summit in Hamburg, Germany earlier this month, G20 leaders called on the forum to fulfill their commitments on enhancing information sharing and cooperation by August, and to rapidly develop concrete policy solutions that reduce steel excess capacity, the official said.

The G20`s new commitment to address global steel overcapacity comes as the Trump administration is about to release a report on the national security implications of steel imports in the coming weeks.

In defense of the U.S. steel industry, the Trump administration in April invoked a decades-old, rarely used trade tool, known as a Section 232 investigation under the Trade Expansion Act of 1962, to look into all foreign steel imports.

If the investigation concludes that steel imports would undermine U.S. national security, the trade law would allow the U.S. government to impose tariffs, quotas, or other measures to restrict the imports.

Many trade experts and economists have warned that it would hurt millions of U.S. consumers and thousands of U.S. manufacturers if the Trump administration imposes new restrictions on steel 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 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 19th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: m.balanzskin.com.

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