News

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

China Minmetals, China National Gold "unaware" of merger talks

Source: www.chinamining.org Citation: Reuters Date: July 20, 2017

China Minmetals Corp and China National Gold Group are unaware of any merger talks between the two companies, their listed units said on Wednesday, after a Reuters report on a possible deal caused a rally in their shares. 

Sources with knowledge of the matter told Reuters on Tuesday that China was considering a merger between the two major metals and mining firms as Beijing pushed to consolidate its bloated state-run enterprises to help increase efficiency and competitiveness. 

"After checking with the company`s owner China Minmetals Group, the group said it was not aware of a merger deal and had not been notified by relevant authorities on the matter," the listed units said in similar statements. 

The China Minmetals` subsidiaries that issued statements include China Minmetals Rare Earth Co Ltd, China Tungsten And Hightech Materials Co Ltd, Minmetals Development Co Ltd, Minmetals Capital Co Ltd and Zhuzhou Smelter Group Co Ltd. 

On Wednesday, the five listed companies` shares ended up between 4.6 percent and 10 percent.

China National Gold`s unit Zhongjin Gold Corp Ltd , whose stock rose 6 percent, also issued similar comments.

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 becomes one of the biggest oil drilling contractors in Kuwait: report

Source: www.chinamining.org Citation: Global Times Date: July 17, 2017

The huge amount of Chinese-made oil equipment imported by Kuwait shows the country`s support for Chinese manufacturers in the field and breaks the monopoly of US and Europe in the Middle East oil sector, the People`s Daily reported on Sunday. 

As of end of the first quarter, Chinese enterprises had won contracts for 64 projects in Kuwait, covering such sectors as oil field services and exploration, infrastructure and telecommunications, with total value of $13.7 billion.

New contracts reached $3.01 billion in the oil drilling sector in the first quarter, becoming landmark projects in China-Kuwait cooperation, the report said.

Kuwait has so far bought Chinese-made rig equipment worth more than 4.3 billion yuan ($635 million), it noted. 

Entering the Kuwait market in 2008, Zhang Congbang, manager of the Kuwait subsidiary of Sinopec International Petroleum Service Corp (SIPSC), said his team has transformed the Chinese enterprise`s image and become the biggest rig contractor in Kuwait. 

"When we arrived, the Kuwait side didn`t show much interest in us and worried whether Chinese companies could complete projects with an expected high level of quality," Zhang was quoted as telling the People`s Daily. 

To break the monopoly of the US and Europe in the rig market in the Middle East, Zhang and his team worked with domestic manufacturers to understand the technological aspects required, helping them establish an internationalized quality system. 

The team also engaged with executives of Kuwait Petroleum Corp (KPC) to introduce the technological index and data of domestic equipment, and they invited the Kuwait side to inspect Chinese factories and learn the standard of "made in China". 

"KPC agreed to use some Chinese rig equipment on a trial basis. Finally, the first-rate quality and reasonable price of domestic products won recognition from Kuwait," Zhang was quoted as saying in the report. 

The Kuwait subsidiary of SIPSC signed a big rig agreement worth $1.15 billion in 2014 when the international oil price slumped, rising to become the biggest rig contractor in Kuwait.

At present, the company owns 53 drilling rigs, taking up more than 45 percent of the Kuwait market, according to the report.

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.

Sino-Russia oil pipeline expands

Source: www.chinamining.org Citation: Xinhua Date: July 14, 2017

Activity in joint projects shows changing attitude

A worker checks valves at the terminal of the China-Russia oil pipeline in Daqing, Northeast China`s Heilongjiang Province. Photo: IC 

Joint energy projects between Russia and China are in full swing as Russia has reached out to tackle the gigantic Chinese market amid economic woes. 

On Wednesday, the main part of the second oil pipeline of the China-Russia crude oil pipeline project in Northeast China`s Heilongjiang Province was completed, chinanews.com reported. The pipeline is expected to carry its first oil this year. 

Built by the two biggest oil producers in China and Russia, China National Petroleum Corp and Rosneft, respectively, the 940-kilometer pipeline from Mohe to Daqing, both in Heilongjiang, will have an annual capacity of 15 million tons. 

The first oil pipeline of the China-Russia crude oil pipeline project, from Skovorodino to Mohe, moved 100 million tons of oil from Russia to China between 2011 and May 19 this year, according to the TASS news agency. 

"The around-the-clock pipeline will be the fastest and most convenient method for oil transportation from Russia to China,"? Zhang Hong, a research fellow at the Chinese Academy of Social Sciences, told the Global Times on Thursday. 

"The China-Russia crude oil pipeline project will make Sino-Russia oil trade more stable and regular," Lin Boqiang, dean of the China Institute for Studies in Energy Policy at Xiamen University, told the Global Time on Thursday. 

The rapid progress of the two oil pipelines is an example of how Russia, a good user of energy leverage, has been more active in seeking energy business operation with China.

Lin said that in the past, Russia was a hard nut to crack in business cooperation based on his own experience and what he learned from other industry insiders. "It was hard to strike a bargain with them. But in the past few years they have grown more amicable businesswise," he noted, adding that the country`s economic downturn had prompted Russia to be more active in exporting oil. 

"Besides, currently many countries are studying new energy to replace hydrocarbons, so actually the world`s reliance upon oil is decreasing. That`s why Russia is speeding up selling oil - because it has sensed the market pressure," Zhang noted. 

According to Zhang, importing oil from Russia also has great benefits for China because first, diversifying oil import sources can reduce the risks of regional politics on domestic economic security. Second, in terms of geography, importing oil from Russia is more convenient than getting it from distant sources like Saudi Arabia.

"It`s unlikely that China can build an oil pipeline with Saudi Arabia like the one it has developed with Russia," Lin noted. 

But he stressed that so far Saudi Arabia is still China`s biggest oil importer and this position is unlikely to be replaced by Russia in the short term.? 

"Overall, China needs to import oil as our oil reserves are becoming a little depleted, and it costs much less to import oil than producing our own," Zhang said. 

According to Lin, China imports about 65 percent of its oil. "I think the proportion is going to rise to 80 percent very soon," he said. 

Apart from oil, cooperation between China and Russia in other types of energy is also surging. 

A statement sent by Rosneft to the Global Times earlier stressed that the company`s cooperation in energy with Chinese partners "covers all business domains, from upstream to refining and petrochemical production."

The statement also listed several of those projects, including a refinery project in North China`s Tianjin? Municipality and a joint venture it established with the China Petrochemical Corp for the production of hydrocarbons.

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.

Sino-Russia oil pipeline expands