News

Spotlight: China-Venezuela cooperation eyes new development projects

Source: www.chinamining.org         Citation: Xinhua      Date: February 27, 2017

Already robust, development cooperation between China and Venezuela got an additional boost with the recent signing of 22 new agreements to strengthen their comprehensive strategic partnership.

The South American economy, which is heavily dependent on oil exports, and was devastated by falling crude prices, is getting a helping hand from China to diversify its production base. 

One initiative Beijing has pledged to invest in is a government-backed program to strengthen community supply and distribution networks through Local Supply and Production Committees (CLAP) and a Great Sovereign Supply Mission (GMAS). 

Both strategies emerged from a need to provide average Venezuelans with basic goods that became scarce to find amid a protracted "economic war" between politically conservative business sectors and the socialist government. 

But the greater objective is to help Venezuela consolidate its productive sector and exports -- by increasing energy and technological innovation, among other things -- in a way that also benefits people in China. 

In a recent interview with Xinhua, Venezuelan Planning Minister Ricardo Menendez described the bilateral relationship as an "authentic process of integration" to build a better future for both countries. 

"Everything is part of a strategic framework between our countries and is related to the 2025 Venezuela-China Plan. We are talking about linking China`s Five Year Plan with the (Venezuelan) National Plan ...it is a relationship of profound breadth," said Menendez. 

Six of the 22 accords are related with boosting energy output, including an agreement to build a refinery in southeast China`s Guangdong Province, called Nanhai, that will specialize in processing some 400,000 barrels of extra-heavy crude extracted from Venezuela by joint venture firms between Venezuela`s state oil company PDVSA and the China National Petroleum Corporation (CNPC). 

Another project aims to boost output at joint Sino-Venezuelan firm Sinovensa, located in Venezuela`s oil-rich Orinoco Belt, by 165,000 barrels per day (bpd) to 230,000 bpd.

The Orinoco region joint ventures Petrozumano and Petrourica also plan to raise output. 

The results of these agreements are expected to be felt in the first quarter of 2017, though other plans are more medium- to long-term. 

Though not part of the recently signed agreements, there is also a project underway to build a deep-sea port in Araya Peninsula, in the eastern Sucre state, along with a network of oil and gas pipelines from the oil belt, to facilitate export. 

"We are breaking with this concept, this idea of Venezuela as a country that lacks investment. That (the port) plus the oil investments speak of the confidence that prevails in our countries, and of how we are going to approach all of the difficulties that may arise, and how we are going to embark on a path towards the future," said the official. 

In the agricultural sector, China and Venezuela plan to build Latin America`s largest industrial park in Anaco, a town in the eastern state of Anzoategui. 

The ambitious project aims to produce traditionally imported inputs, such as seeds, fertilizers and other agrochemicals, but with "an environmental perspective," said Menendez. 

Several China-Venezuela joint ventures are already at a stage where they can expand their production lines and seek out new export markets. 

The joint venture between Venezolana de Industrias Tecnologicas (VIT) and China`s multinational IT company the Inspur Group is one of them, as it looks to increase its computer assembly operation for export.

Mobile phone makers Venezolana de Telecomunicaciones (VTELCA) and China`s ZTE Corporation "are expanding with another five production lines," said Menendez. 

In the automotive sector, Venezuela`s Chery-brand carmaker is also poised to roll out more vehicles, not just for a government-backed plan to modernize the country`s fleet of taxis, but also for foreign markets. 

Finally, as part of a push to diversify its economy, Venezuela has launched Arco Minero del Orinoco, a large-scale mining project in which Chinese companies will be taking part. 

Arco Minero is designed to position the country as a key supplier of gold, diamonds, bauxite, copper and coltan.

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 China in September23-25, 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.

Roadmap for global energy interconnection depicted

Source: www.chinamining.org     Citation: People`s Daily Online     Date: February 27, 2017

The Beijing-headquartered Global Energy Interconnection Development and Cooperation Organization (GEIDCO), the first China-initiated international energy organ, released three reports on its research findings on Wednesday, depicting a vision of a green, low-carbon, interconnected and shared energy community around the globe. 

In the three documents, namely White Paper on Global Energy Interconnection Development Strategy, Technology and Prospects for Cross-regional Power Networks and Global Energy Interconnection Development and Outlook 2017, the organization shared the strategic system, ideas and roadmap for global energy interconnection. 

The idea of building a "Global Energy Interconnection (GEI)" was first put forward by Chinese President Xi Jinping at the UN Sustainable Development Summit on September 26, 2015. Xi`s proposal, with an aim to facilitate efforts to meet the global power demand with clean and green energy alternatives, was widely echoed by the international community. 

The GEIDCO, founded last March upon China`s initiative, has received its first 80 members from Asia, Europe, Africa, America and Oceania. 

The fusion of energy network, together with information network and transportation network, is regarded as a new trend of the world, but the progress of former one lagged behind after the latter two. 

According to plans, the GEI foresees a global smart ultra-high-voltage grid connecting power providers and consumers worldwide with clean energy across national boundaries. It is also designed to serve as a basic platform for extensive development, deployment and utilization of clean energy. 

In a bid to realize the UN`s goal of "Sustainable Energy for All", the GEI is expected to be attained by the middle of the century, in three steps of domestic, intracontinental and intercontinental interconnection. 

Liu Zhenya, chairman of the GEIDCO, stressed that global energy interconnection will promote a new way for energy production and consumption guided and featured by clean energy and high degree of electrification. 

Meanwhile, a new energy development pattern should be formed, Liu suggested, explaining that in the new pattern, the power system will be shared within countries and continents and the global electric power allocation will be optimized. 

He also urged the world to establish a new mutually beneficial energy cooperation relationship with joint efforts and shared fruits. 

Liu called for an accelerated technology-driven innovative development in GEI progress as well, saying that innovation harvests in sectors like big data, Internet of Things, automatic drive and car networking should be reaped as soon as possible.

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 China in September23-25, 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, France sign deals on nuclear energy, science

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

Chinese Premier Li Keqiang (R) shakes hands with French Prime Minister Bernard Cazeneuve
    in Beijing, capital of China, Feb. 21, 2017. (Xinhua/Yao Dawei)

China and France on Tuesday signed agreements on nuclear energy and science during French Prime Minister Bernard Cazeneuve`s Beijing visit.

During talks with Cazeneuve, Chinese Premier Li Keqiang said China is willing to work with France to deepen cooperation in the whole industrial chain of nuclear energy. 

He hoped that the two sides would ensure a smooth implementation of the Hinkley Point C nuclear power plant program and discuss joint development of the third-party nuclear power market. 

Li suggested the two sides explore cooperation in civil aviation and space industries, deepen cooperation in coping with climate change, and speed up the eco-city project in Wuhan, capital city of central China`s Hubei Province. 

He also hoped the two countries to explore cooperation in whole industrial chain of agriculture, medicine and health, as well as coping with an aging society. 

Li urged the two sides to facilitate bilateral people-to-people exchanges, effectively implement the Sino-French "1000 Interns" program and the mutual recognition agreement of driving license just signed between the two sides. 

He called on the two nations to push the social security agreement signed last October into effect as soon as possible, which exempts company employees assigned to work in each other`s countries from the mandatory social security contributions. 

The premier hoped that the French side would provide Chinese tourists with better services. 

On bilateral relations, Li said China and France both serve as the permanent members of the UN Security Council, and the Sino-French ties have been at the forefront of China`s links with western countries. 

He said the two countries should always uphold the principle of mutual respect, equality, cooperation, mutual benefit and win-win and strengthen communication and coordination in international affairs.

He called on the two sides, against the backdrop of the complicated and volatile international situation, jointly send out strong signals of safeguarding world peace and stability and promoting development, so as to respond to uncertainty with stability. 

China firmly supports European integration, and hopes to see a united, prosperous and stable European Union(EU), which is not only conducive to China-France and China-Europe relations, but also in the interests of multilateralism and the development of globalization, said Li. 

Li urged the EU to comprehensively and thoroughly fulfill its obligations under the Protocol on China`s Accession to the World Trade Organization (WTO), so as to create conditions for sound and healthy development of China-Europe pragmatic cooperation. 

Under Article 15 of the Protocol on China`s Accession to the WTO, the EU should have ended its "surrogate country system" by Dec. 11, 2016. 

For his part, Cazeneuve praised the fruitful cooperation with China in civilian nuclear energy sector, adding bilateral cooperation in agriculture and environmental protection is exemplary. 

France is ready to work with China to enhance cooperation in such areas of politics, economic and trade, investment, science, agriculture, nuclear energy, environmental protection and education, he said. 

France is willing to make efforts with China to maintain trade liberalization and defuse protectionism, he added. 

Noting Europe and China share broad common interests, Cazeneuve said the two sides will find proper solution to the implementation of the Article 15 of the Protocol on China`s Accession to the WTO and France is willing to make efforts in this regard. 

When jointly meeting the press with Cazeneuve, Li reaffirmed that China upholds to the principle of openness, inclusiveness, and win-win cooperation, opposes to all kinds of protectionism, and safeguards an open international trade system as well as the multilateral framework. 

Cazeneuve said France is ready to work with China to oppose trade protectionism and promote the development and prosperity of the two countries. 

Cazeneuve is paying an official visit to China on Feb. 21-23. Besides Beijing, Cazeneuve will also visit Wuhan.

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 China in September23-25, 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 suspends coal imports from DPRK

Source: www.chinamining.org         Citation: Xinhua      Date: February 20, 2017

BEIJING -- China will suspend coal imports from the Democratic People`s Republic of Korea (DPRK) for the rest of 2017, the Ministry of Commerce said Saturday.

The ministry said in a statement on its website that the suspension, in line with UN Security Council Resolution 2321, will be effective from Feb 19 to Dec 31 this year. 

The UN Security Council adopted the resolution on Nov 30 that tightened sanctions on the DPRK in response to its fifth nuclear test on Sept 9 last 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 China in September 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 backs Australia`s cleaner iron ore project

Source: www.chinamining.org         Citation: Bloomberg      Date: February 20, 2017

A miner holds a lump of iron ore at a mine located in the Pilbara region of Western Australia on Dec 2, 2013. [Photo / Agencies]

Chinese engineers who carved a railway through the Qinghai-Tibet Plateau and built the world`s longest sea-bridge across Hangzhou Bay have a new challenge: developing a $3.4 billion project on Australia`s remote Eyre Peninsula to meet increased demand for cleaner iron ore.

China Railway Group Ltd, the world`s second-largest infrastructure builder, is backing the mine, port and rail-road project that aims to supply high-quality, lower-emission ore to Chinese steel mills facing stricter environmental rules. 

The project would be a major step toward South Australia`s goal of securing A$10 billion ($7.7 billion) of investments to fund a stable of new iron ore mines by 2021. China Railway`s partner Iron Road Ltd aims to bring the 24 million metric ton-a-year mine into production in late 2020 after tests showed its product can help customers meet the tougher standards. 

Yi Zhu, an analyst at Bloomberg Intelligence in Hong Kong, said: "Chinese mainland demand for higher-quality iron ore will increase, driven by stricter environmental protection regulations and improved profitability of steel mills." 

A restructuring of China`s steel sector will also boost demand for premium quality imports, according to researcher CRU Group. 

China plans to invest 2.5 trillion yuan ($365 billion) in renewable energy through 2020 to reduce greenhouse gases and is seeking to curb emissions by iron and steel producers. Mills are being compelled to upgrade their plants or cease operations if they fall short of standards, according to Bloomberg Intelligence.

Iron Road`s iron ore will never solve all of the problems facing Chinese steel mills but "it will certainly help them," Managing Director Andrew Stocks said by phone from Adelaide. 

He said: "We see an increase in productivity, a decrease in fuel use and a decrease in atmospheric emissions-it`s not quite the Holy Grail, but there are three very positive attributes to improve the steel mills." 

Stocks is planning to meet with banks in Beijing and Shanghai this month and expects a final investment decision to be made this year. Under an interim 12-month accord signed last year, China Railway anticipates taking as much as a 15 percent stake in the project, if approved, and will be the prime construction contractor, Iron Road said in a filing. 

China Railway views the Eyre Peninsula as the preferred development location for a large-scale, long-life, high-grade iron concentrate development as opposed to competing locations in Western Australia, Eastern Canada and West Africa, according to an Iron Road filing. Calls to China Railway`s Beijing office weren`t answered and emails to an address on the company`s website received no reply. 

In 2016, China shed more than 65 million tons of excess steel capacity and 290 million tons of inefficient coal mining capacity, Premier Li Keqiang said last month. 

South Australia`s government believes it has the right ore to meet the new demand-about 14 billion tons of untapped magnetite, a higher-quality ore that contains more of the metal and fewer impurities than dominant market rival hematite. While it costs more to process magnetite, the product commands a premium from mills producing high-quality steel. 

The state`s ambition to export 50 million tons of magnetite by 2030 is dwarfed by the predominantly hematite ore production in neighboring Western Australia, which accounts for more than half of global exports and is forecast to ship more than 860 million tons this year. Magnetite currently accounts for only between 15 and 20 percent of the seaborne export market, according to researcher AME Group. 

Iron ore with 62 percent content in Qingdao rose by 0.3 percent to $83.53 a dry ton on Feb 8, according to Metal Bulletin Ltd. The commodity touched a two-year high last month. 

Hurdles from securing finances to displacing China`s homegrown magnetite supplies also present challenges to South Australia`s dream of reviving its iron ore sector. The state saw the nation`s first mining of the material in the late 19th century and sent cargoes to markets including the United States, the Netherlands and Japan. 

The existing market for magnetite exports is well supplied and hasn`t shown major growth, though higher-quality material is likely to be required in the future, according to Fortescue Metals Group Ltd.

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 China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: m.balanzskin.com.

China, Russia discuss energy cooperation

Source: www.chinamining.org         Citation: Xinhua      Date: February 17, 2017

Chinese Vice Premier Zhang Gaoli met with Russian natural gas company Gazprom CEO Alexei Miller Wednesday, calling for steady development of bilateral engery cooperation.

Zhang said China and Russia should conduct further research on the west-route gas pipeline and the Far East gas supply projects adhering to the principle of shared benefits and risks, and expand cooperation in natural-gas-burning power generation, underground gas storage, engine fuel and other areas. 

He called on both sides to ensure the success of major projects like the China-Russia crude oil trade and increased crude supply, east-route gas pipeline project and the Yamal liquefied natural gas (LNG) project. 

Recent years have witnessed continuous achievements in energy cooperation including in natural gas field between China and Russia under the strategic guidance of the two countries` top leaders, said Zhang. 

For his part, Miller said Russia viewed China as an important energy cooperation partner. 

Russia is willing to work with China on the current projects and explore new areas of cooperation so as to jointly lift the energy cooperation partnership to a new high, 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 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 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 capable of achieving steady GDP growth in 2017: Standard Chartered

Source: www.chinamining.org         Citation: Xinhua      Date: February 16, 2017

China is capable of achieving steady GDP growth this year despite global uncertainties, according to Standard Chartered Bank.

"We expect China to continue to set its GDP growth target at about 6.5 percent for 2017 and the world`s second largest economy could grow 6.6 percent this year," Ding Shuang, chief Greater China economist with Standard Chartered, told Xinhua in a recent interview.

Ding pointed out that U.S. policies towards China and elections in post-Brexit Europe might complicate the international environment for the Chinese economy, while domestic slowdowns in the property and automobile markets might drag on consumption growth. 

China`s real estate market will see slower sales pace as tightened regulations began to bite, while the sales of passenger cars showed signs of contraction by dropping 1.1 percent year on year in January.

However, Ding said that other engines of economic growth were gaining steam in China. 

He said that the service sector would grow faster in 2017 as Chinese would demand better entertainment, health care, education and travel experiences, which could contribute to about 60 percent of GDP. 

Meanwhile, China`s exports seem to be restoring momentum after a subdued performance last year. The country`s foreign trade volume beat market expectations to grow 19.6 percent year on year in January. 

In addition to a lower comparison base and Spring Festival effects, the global economy is showing positive signs as the latest PMI figures in the United States and some European countries showed growing factory and service activities, according to Ding. 

He added that the yuan`s previous depreciation would gradually help lift export performance. 

Ding pointed out that to sustain steady growth at about 6.5 percent, China would still have to combine effective policy tools. 

 "While China decided to take a prudent and neutral monetary stance, the government needs to take more proactive fiscal policies to help prop up growth," Ding said. "China`s debt level is still controllable and the government can lift the fiscal deficit-to-GDP ratio from 3 percent in 2016 to 3.5 percent 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 China in September23-25, 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-Venezuela commission oversees refinery expansion project

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

The China-Venezuela Joint Commission on Tuesday is reviewing the expansion of the Puerto La Cruz refinery, according to Venezuelan Vice-President of Planning and Knowledge Ricardo Menendez.

This plant, which was located in the northeastern state of Anzoategui and near the Caribbean Sea, has a current capacity of 129,000 barrels of oil per day for internal and external distribution.

"This alliance will raise (capacity) to 210,000 barrels of oil per day, following the vision that (former president) Hugo Chavez had for the Orinoco Oil Belt as the country`s main reserve," Menendez told a press conference, who was accompanied by Ning Jizhe, vice director of the National Development and Reform Commission of China.

The Puerto La Cruz refinery has seen investment and assistance from a number of countries, including China, which leads the Joint Commission to explore its development. 

In 2014, China`s Wison Engineering Company signed up to help build the refinery`s basic processing units, in a joint venture with Hyundai Engineering and Construction. 

Eulogio del Pino, president of Venezuela`s national oil company, PDVSA, added that the expansion included an investment of around 10.5 billion U.S. dollars.

According to Del Pino, the expansion will be completed in a year and a half, as the work was not stopped even during "the cycle of the lowest oil prices." 

On Monday, during the 15th Meeting of the Joint Commission, the governments of China and Venezuela signed over 20 new cooperation agreements in various fields, including economy, energy, finance, trade, education, culture, and science and technology.

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 China in September23-25, 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.