News

Mining development summit forum of CHINA MINING 2015 held in Tianjin

Source: www.mlr.gov.cn    Citation: www.gtzyb.com    Date: October 22, 2015

On the morning of Oct.22, 2015, mining development summit forum was held at Meijiang Convention and Exhibition Centre of Tianjin. Directors and CEOs of global mining companies discussed the global mining development opportunities and strategies. （Photo: Hou Yijun, Edit: Xu Xiaojing）

The picture above is the site of mining development summit forum of CHINA MINING 2015.

The picture above is that Mr. Peng Qiming, chief engineer of Ministry of Land and Resources, PRC, was hosting mining development summit forum of CHINA MINING 2015.

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 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on October 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2015, please visit: m.balanzskin.com.

Apparent trend of Iron Ore oversupply

Source: www.gtzyb.com   Date: www.gtzyb.com   Date: October 22, 2015

“It will tend to be more beneficial to the buyer of iron ore in the world market. The trend of obvious oversupply is more pronounced.” On the Forum of Iron Ore on October 21, the guests shared a similar viewpoint.

“Iron ore suppliers should note that world iron production is mainly in Asia, accounting for 77% of the world, and global demand for iron ore is mainly to Asia, too. In 2013, China`s pig iron output is into the flat peaks, and this year showed slight decline in volatility.” Mr. Li Chuangxin, the Director of Metallurgical Industry Planning Institute said, "the change is mainly due to economic slowdown, the change of drivers of economic growth, and decline of steel industry profits.” Li Chuanxin believed that large iron ore companies would do everything possible to expand the scale, reduce production costs and maintain their market share. Taking BHP Billiton, Rio Tinto, Vale, FMG four companies as example, those who had a cost advantage, would owns the market. Those higher-cost iron ore companies would be squeezed out of the market.

Li Chuangxin believed that in the short term, the oversupply situation was unlikely to improve and prices were difficult to pick up. At the same time, under the support of the marginal cost, prices would not fell sharply again. In the next 2-3 year, iron ore prices would fluctuate around $ 50/ton. From the medium and long term, with the four major mine expansion complete, some high-cost mines would gradually withdraw from the market. Together with the countries of South Asia, Southeast Asia and other countries economic development-led rose in demand for steel, iron ore market would return to equilibrium of supply and demand, prices might creep up. There were opportunities and also challenges in the future market. Opportunities came from restructuring, mergers and acquisitions of mining companies, as well as the strategic cooperation of iron and steel enterprise and mining enterprise. Challenges mainly came from the survival of high-cost mines, especially the high cost of new mines. 

Ms. Shao Yuhan, Wood Mackenzie`s iron ore and steel Consultant believed that the sum demand for iron in other countries in the world was not sufficient to balance the drop in Chinese demand for iron ore. Over the medium term, although supply would be more concentrated in large mines, but prices would remain under pressure. At present, the supply of iron ore was adequate, the supply gap would not appear until around 2030.Judging from the prices, the short middle term was more pessimistic, and it need higher prices to encourage new projects open in a long term. India would become the main drive demand.

Dr. Poole Butterworth, a global steel industry analyst of United Kingdom CRU International Limited, believed that over the next five years, more mines would be withdrawn from the market. That would make iron ore markets find balance again. By 2019, the price of iron ore would have a certain increase. (Cheng Xiujuan)

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 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on October 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: m.balanzskin.com.

China’s R&D capacity of “Underground Sea Exploration” enhanced

Source: www.mlr.gov.cn   Citation: www.gtzyb.com  Date: October 22, 2015

On Oct.20, the reporter was informed in the sub-forum “Geological Scientific and Technical Innovation” during CHINA MINING 2015 that with the successful launch of the 3500-meter core drill and 4500-meter deep sea ROV-“Sea Horse”, China enjoyed a new weapon in the field of underground seawater research.

According to the reporter, 3500-meter full hydraulic core drill independently made by our country was on exploration trails in Zhaoyuan, Shandong. The successful launch would explore a second prospecting place and provided equipment support for the in-depth exploration of the earth. The first 4500-meter deep-water ROV- “Sea Horse” in China, equipped with under-water camera system, sonar, tools, and multifunctional manipulator, was accessible to 90% of local places. Its successful launch indicated that China has mastered the key technologies related to deep-water ROV and has made progressive achievement in localizing those key technologies. (Yu Defu)

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 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on October 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: m.balanzskin.com.

Geological survey directors forum of CHINA MINING 2015 held in Tianjin

Source: www.mlr.gov.cn    Citation: www.mlr.gov.cn     Date: October 22, 2015

On the morning of October 22, 2015, geological survey directors forum of CHINA MINING 2015 was held at Meijiang Convention and Exhibition Center of Tianjin. Directors from all over the world introduced the new situation of their respective geological survey and mineral exploration, and discussed the general idea and the main progress of international geological cooperation under the new situation. (Photo: Hou Yijun, Edit: Xu Xiaojing)

The picture above is the site of geological survey directors forum of CHINA MINING 2015

The picture above is that Mr. Wang Yan, deputy director of China Geological Survey, was hosting geological survey director forum of CHINA MINING 2015.

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 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on October 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2015, please visit: m.balanzskin.com.

Following objective laws for transformation & development of resource-based cities

The CHINA MINING 2015 witnessed the sub-forum of “Resource-based Cities: Transformation and Sustainable Development” successfully co- hosted by China Mining Association and China Geo-philosophy Committee and organized by Mining City Committee of China Mining Association.

The sub-forum was presided by Mr. Meng Xianlai, Chairman of China Geo-Philosophy Committee. Mr. Zhu Xun, Secretary–General of the 8th Session of the CPPCC National Committee, Former Minister of Geology and Mineral Resources of China, Director, Senior Advisor Committee of China Mining Association attended the sub-forum and gave his remark.

Mr. Zhu Xun pointed out that, since the first “Resource-oriented Cities’ Transforming and Sustainable Development” forum hosted in Ping Dingshan City, Henan province 18 years ago, it has become consensus for national mining cities to push forward mining cities transform, avoid the problem of “ cities desolate once without mineral resources” and accomplish sustainable development. Currently, we have accumulated rich experience. It was of great importance for mining cities to follow the law of step-developing.

Prof. Lei Yalin, Secretary -General, Mining City Working Committee of China Mining Association, Deputy President of China University of Geo-sciences(Beijing), described the challenges and opportunities brought about in the development of mining cities both at home and abroad. In accordance with the proportion and distributing area of mining cities in China, state favorable policies for mining industry, long-term mechanism and existing problems, she gave a deep analysis and introduced successful cases of Ruhr Region in Germany, Lorraine Region in France, Kitakyushu in Japan and Huston in America. She believed that proactive actions served as the base, the principle of in line with local conditions the key, green transform the core and better balance the guarantee for the transforming development of China’s mining cities.

Mr. Lei Xinhua, Secretary-General of China Geo-Philosophy Committee and professor of China (Beijing) Geology University considered that transforming the developing manner was a must for mining cities which was an unchangeable law. The development of mining cities shall base on the future and look for sustainable industries to cultivate all-round developing of the city. He suggested that mining cities conduct transforming development under the guidance of step-developing law and make developing plan in accordance with the policies and local conditions. (Liu Xiaohui / Yang Qiuling)

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 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on October 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: m.balanzskin.com.

Forging ahead together with countries along the Belt and Road

Mr. Jiang Daming, Minister of Land and Resources, PRC, addressed at CHINA MINING Congress and Expo 2015, said that “China has proactively advocated the construction of Silk Road economic belt and 21st century Marine Silk Road, established the Silk Road Fund and cooperatively built up the Asia Infrastructure Investment Bank to carry out investment and trade cooperation and Connectivity construction together with countries and regions along the Belt and the Road.”

Currently, at a matter of fact, China has already conducted collaborative geological research and investigation with the countries and regions along the Belt and the Road, compiling and publishing the Mapping of Groundwater Resources and Environmental Geology in Asia to serve the Connectivity construction of local infrastructure and the construction of economic corridor.

On the CHINA MINING Congress and Expo 2015, a special theme symposium on geological cooperation of countries along the Belt and the Road was hosted by China Geological Survey. The heads of national geological survey and departments related to mineral resources from 11 countries attended the symposium and introduced opportunities for mining investment and geological cooperation. These 11 countries included Cambodia, Laos, Myanmar, Thailand, Kyrgyzstan, Tajikistan, Iran, Pakistan, Turkey, Inner Mongolia, and Vietnam.

At the same time, experts and heads from Technology and Foreign Affairs Department of China Geological Survey, Chengdu Geological Survey Center and Xi’an Geological Survey Center have described the current situation of Belt and Road Initiative and the prospect of the future.

Mr. Yan Guangsheng, director of Development and Research Center of China Geological Survey, presided the forum and said that, “the construction of Belt and Road Initiative shows the grand economic wish of opening up and cooperation among the related countries, which requires that all jointly forge ahead toward the goal of mutual benefit and common safety, reaching the connectivity of the region.”

Receiving support from UNESCO

Mr. Wu Zhenhan, director of Dept of Sci-Tech and Foreign Affairs in China Geological Survey, indicated that China Geological Survey has established bilateral relationships with more than 50 countries and signed cooperation agreements with 16 countries along the Belt and Road region with the cooperation fields covering geological mapping, evaluation of mineral resources, hydrogeology, global climate change, geology at South Pole and the moon prospecting.”

It was said that, to facilitate international cooperation and with the support of UNESCO, China Geological Survey established the International karst Research Center at Guilin, Guangxi Province, crowned by UNESCO and relying the Karst Research Institute. Currently, an Global Geochemistry Research Center is underway relying on the Institute of Geophysics and Geochemistry in Langfang, Hebei province, which will be the second Class Research Center of UNESCO for China Geological Survey.

Except for these two research centers, depended on Geological Institute of Chinese Academy of Geological Science, Beijing SHRIMP Center, as the first batch of National Science & Technology Infrastructure, has become the international U-Pb research center.

The State Key Laboratory of Continental Tectonics and Dynamics, supported by Geological Institute of Chinese Academy of Geological Science, welcomes geologists from different countries and regions to China to conduct geological research and cooperation, evolving into an international research center of continental tectonics and dynamics.

Through international cooperation to enhance Earth science development

China Geological Survey has also broadened the regional geological survey, geophysical prospecting and chemistry mapping; through bilateral and multi-lateral cooperation, China Geological Survey conducted cooperative research on orogeny, deep geological process, mineralization, global geological changes, underground water cycle, geological disasters and carbon-recycle in Karst areas; China Geological Survey has also organized the construction of geological information system, the comprehensive utilization of mineral resources, geo-park designing management and academic symposiums.

China Geological Survey has taken part in the International Deep Prospecting Plan, financed the prospecting project for China Continental Science and supplied the prospecting samples freely to global geologists.

China together with America, Germany and Canada carried out the deep geophysics prospecting throughout the Qinghai-Tibet Plateau and Himalaya, which become the prominent INDEPTH Plan in international Earth science circle.

What’s more, China Geological Survey has cooperated with Zimbabwe Geological Survey to proceed geochemistry mapping, discovering an valuable golden deposit.   

The introduction of Nine Programs of China Geological Survey brings opportunities for international cooperation

It was said by Mr. Wu Zhenhan that China Geological Survey would introduce Nine Programs from 2016 to 2020, which would bring important opportunities for international geological cooperation, especially for countries along the Belt and Road.

It was said that three projects would be implemented along the Belt and Road, covering the Comparison Research Project of Mineralization Belt of Adjacent Countries, the Project of Global Geochemistry and Remote Sensor Investigation and Information Integration and Services Project o Geological Mineral Resources.

In order to push forward the international cooperation within countries and regions along the Belt and Road, China Geological Survey will exert more efforts in constructing and running the international and regional geological survey centers, enlarging scholars and post doctoral personnel communications depending on international organizations (such as Shanghai Cooperation Organization, research centers of UNESCO, IUGS and CCOP) and important conferences(such as CHINA-ASEAN Exposition and CHINA MINING Congress and Expo).

Mr. Wu Zhenhan also signified that “ we will continue to increase the training of professions, management personnel and technicians along the Belt and Road areas. Currently, we are proactively exploring the building of Collaborative Laboratories with counties along the Belt and Road areas to collectively cultivate graduates.”

To Constantly enhance regional cooperation and communication in geological field.

Southeast Asia serves as an important part of the 21^st century Marine Silk Road.  On the forum, Doctor Lin Fangcheng from Chengdu Geological Survey of China Geological Center gave a report on cooperation status quo and outlook on China-Southeast countries’ geological cooperation.

It was introduced that China has made profound cooperation in various fields with ASEAN countries, mining field being one of the important fields. Currently, Ministry of Land and Resources has signed and Cooperation MOU with the Ministry of Industry and Energy Resources of Cambodia, and China Geological Survey has also signed cooperation agreements and MOU with its counterparts in Laos, Vietnam, Thailand and Indonesia.

Mr. Lin Fangcheng expressed that the signing of these agreements provided an important guarantee to carry out cooperation.  In accordance with these cooperation agreements, China Geological Survey has carried the geochemistry mapping in the north Laos with Laos, made a survey in Sumatra with Indonesia and conducted Karst geological research and mapping cooperation with Thailand.

It was said that China Geological Survey advocated the construction of China-ASEAN Geological Cooperation Research Center in the 2015 China-ASEAN Mining Industry Cooperation Forum, which aimed to build three cooperative platforms, namely Geological Information Collection and Sharing Platform, Geological Research and Geological Cooperative Investigation Platform and the Academic Exchange and Talents Training Platform.

Mr. Li Wenyuan from Xi’an Geological Survey center introduced the geological cooperation and outlook with members of Shanghai Cooperation Organization. It was said that China has established China Shanghai Cooperation Organization Geological Research Center of Ministry of Land and Resources depending on Xi’an Geological Survey of China Geological Survey.

He thought that, known as the global strategic energies and resources base of 21^st century, Silk Road Economic Belt boasted vast territorial areas and abundant mineral resources and energy resources. Cooperation between relative countries were of great importance and the building of Silk Road Economic Belt would inject impetus into Shanghai Cooperation Organization. China Geological Survey treasured the Earth science cooperation with members of Shanghai Cooperation Organization with frequent communication and high-level and scientific personnel exchanges.

Mr. Yao Huazhou, director of Wuhan Geological Survey Center of China Geological Survey has also given a report on geological cooperation and current condition of Marine Silk Road. He reported that” since 2005 till now, China has conducted 26 projects, some of which are assisting projects from Ministry of Commerce and international cooperation projects from Ministry of Science and Technology, covering the evaluation of mineral resources, geological research and the evaluation of mining prospecting. (Zhang Li)

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 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on October 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: m.balanzskin.com.

BOC International calls on common community of mining development

The global economy still remained at the complex processes of readjusting and re-balancing with the overall situation in conserved recovery trend while different economies in splitting tracks. Against such background, to deal with the periodic economic fluctuation and competition, it was a must for global mining enterprises to reduce the production capacity and expenditure, to accelerate assets reset and main business transform and to better input-output ratio so as to ease benefits pressure and increase production and competitiveness, laying a foundation for the next round of economic change. At the same time, with the moderate growth rate of China’s economy, the putting forward of Belt and Road Initiative has blazed new developing space for mining development of China and the countries along the Belt and Road areas.

On the forum of CHINA MINING Congress and Expo 2015, Madam Li Tong, CEO of BOC International Holdings Limited, pointed out that the implementation of Belt and Road Initiative would push forward the opening and emerging of Asia-Pacific region as well as the new round of reform and opening-up of China, and would also ensure sustained increasing of cross-border commerce between enterprises of China and the countries along the Belt and Road areas, facilitating the demands of cross-border resources allocation, investing and financing, information dealing, risks management and encouraging mechanism. The above changes would launch new requirements for financial reform within the area and blaze new opportunities for profound development of the finance with the region.

In Li Tong’s opinions, the launching of Belt and Road Initiative offered a strategic platform for the collaborative development of mining enterprises of different regions. A Common Community of Regional Mining Development should be built up along the Belt and Road influenced areas so as to form an complete industrial chain of mining industry cooperation. She also called on that we should build a regional negotiation organization so as to make overall arrangements in terms of mining industry production, trade and investment policies within the region to speed up the distribution of production factors of mining industry, increase the efficiency of mining resources allocation, maintain the economic benefits of mining industry and the whole within the region, giving birth to an international mining industry market within this region which can impact the pricing of international mining industry and the setting of trade principles so as to build a justice and reasonable international economic, trade, investment and financial order.

As the major platform for BOC to carry out bank investment business, BOC International has long been focused on mining industry development and industry integration with China and beyond and tried its best to become a global and integrated financial platform which can provided necessary capital support for mining enterprises. BOC International has assisted the launching of IPO in Hong Kong for China National Offshore Oil Corporation, China Gold International Resources Corp. Ltd., HNG, Xinjiang Xinxin Mining Industry Co., Ltd., Lingbao Gold Co., Ltd., Canada Sunshine Oil Sands, UC RUSAL, and CAA Resources Malaysia. BOC International has also accomplished some mile-stone projects in mining industry market. For example, as the financing assistant, BOC China helped China Minmetals Co., Ltd purchased the Las Bambas cooper mining project, and as the arrangement bank, BOC International helped JinChuan Group Co., Ltd purchase an listed corporation and reset the Metorex.

BOC International leads the Chinese financial circle in field of global commodity. Currently, BOC International has been authorized the accounting memberships by London Metal Exchange, Europe Intercontinental Exchange, Chicago Board of Trade, New York Mercantile Exchange and New York Metal Exchange. In 2015, BOC International along with Bloomberg News published the “BOC International Oil Index”, the first Chinese financial institute to publish the international bench mark. BOC International has also accomplished the first RMB pledge transaction in London Metal Exchange since London Metal Exchange started this business. (Li Ping)

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 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on October 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: m.balanzskin.com.

New normal ignites new opportunities

---At keynote session of CHINA MINING Congress and Expo 2015

Right after the opening ceremony of CHINA MINING Congress and Exp 2015 on October 21^st, 2015, Mr. Peng Qiming, chief engineer of Ministry of Land and Resources, presided the keynote session of CHINA MINING 2015. Four industry leaders and economists gave their speeches on “New Normal, New Opportunities, New Development”. They shared their ideas on the current situations and trend of global economy and mining development.

Mr. Peng Qiming considered that these ideas had great meanings for global mining industry to recognize the developing trend of global economy and mining industry, to be confident for the future and to facilitate the sound development of global mining.

“It would take longer time than expected for the price of mineral products to be within reasonable range.”

Analyzing the global mining industry situation, Mr. Si Xinbo, deputy general manager of Silk Road Fund pointed that “with global economy undergoing deep adjustment, mining fields now face the challenges of weak demand, financial barrier and mere benefits. The traditional drive pales while the emerging impetus is still preparing. Changes and challenges are still existing in supply and demand structure, industry chain and trade and investment environments.”

Mr. Chen Jinghe, chairman of Zijin Mining Group Co., Ltd, argued that it was unrealistic and impossible to count on China’s growth pushing forward the increase of global mining industry. It was also impossible to hope that current mining condition can be improved like that in 2008 and 2009, in that the whole consumption demand had touched the ceiling. It was said by him that the benefits of mining industry has been dropped since 2012 with the first eight months of 2015 dropping 57%. While a majority of mining companies still increased their production capacity. Therefore, in the next 3 to 5 years, the prices of mineral products will fluctuate at the current and price and some certain minerals may touch the bottom prices.

He believed that “It would take longer time than expected for the price of mineral products to be within reasonable range.” The weak demand severely impacted the mining industry. For example, the growing manner transformed from extensive growth to innovation-driven growth; the economy grew depending on the tertiary industry instead of the second industry and dragged by consumption instead of investment; the real estate market had enormous impact on China’s economy and metal materials; the demand of mineral products grew slowly while the huge production capacity formed during the prosperous period of mining industry still released; the gloom expectation of the markets led to the price slumps of commodity; issues of mining industry, mining mountains, mining personnel and mining cities reappeared; over production capacity disappeared and the production sharply dropped.

He pointed that “ China’s mining industry has congenital disadvantages and it’s our first priority to keep our mining industry alive.” He put forward that we should control the cost, reform and adjust the management system formed during the prosperous period of China’s mining. The related administration, financial and taxation departments shall sound the reform measures to help the mining companies overcome the difficulties.

“New Normal Ignites big opportunities, and mining enterprises shall bravely go globally”

Grave as the current situation was, there were still more positive factors.

“New Normal Ignites big opportunities”. Mr. Chen Jinghe listed 5 evidences to support himself. Firstly, China will maintain an moderate-high growth rate. A growth rage of 5% still sounded good. Secondly, the rising of emerging markets along the Belt and Road area, in India and in counties lying in Southwest Asia have an huge need for mineral materials, especially when these countries are pushing forward industrialization.

Thirdly, the recovery of western counties like the United States of America needs mineral resources to support. Fourthly, the costs of many mining products are at the level of cash expenses with some even higher than the integrated cost. What’s more, there are more and more capital investment and construction investment in mine prospecting. Therefore, there is mere dropping space for mineral products. Fifthly, with the ever growing of emerges and acquisitions between mining companies, China will play an most active role in the global mining market.

Mr. Si Xinbo, deputy general manager of Silk Road Fund, also expressed similar opinions. He thought that severe market situation brought heavy downward pressure for mining industries, yet it also offered more needs and chances for emerges and acquisitions. He introduced that it was also an general manner for giant international mining enterprises to adopt emerge and acquisition for capital structure optimizing, operation quality improving and running risks reducing. Statistics showed that there were 23 emerges and acquisitions in the first quarter of 2015 with the total value of 2.93 billion dollars and 35 in the second quarter valuing 6.5 billion dollars, two times more than that of first quarter. In order to lose economy downward pressure and improve the competitiveness of the mining industry, some countries revised the Constitution, readjusted the taxation regulations and quickened the government review to better the mining investment environment, picturing a new trend of loose mining supervising, all of which created new opportunities and space for the optimizing of resources distribution and investment cooperation in the mining industry field.

“Chinese mining enterprises boast their own advantages. Firstly, they boast advanced innovation, applications and cost-controlling in terms of advanced mining prospecting technologies. Secondly, they rank top globally in the developing and utilizing the low-grade resources which are also difficulty in separating. Thirdly, they enjoy their own features in prospecting the small-sized complex deposit.” Mr. Chen Jinghe said, “Some excellent mining enterprises are capable of international competition. Even though there are few successful cases, we have learned lessons. We shall not over criticize the pioneers. Currently, China’s mining industry lacks of talents with global operation experience. We should cultivate our talents in such regard in the process of actual mining practices”.

Mr. Li Shanquan, Vice President & Senior Manager, Oppenheimer Funds, pointed out that Chinese mining enterprises boasts advantages in capital, technologies and management with strong government support and at the same time, the upgrading of China’s international status also offers favor conditions for Chinese enterprises going globally.

“The Belt and Road Initiative’ sheds light for Chinese enterprises going globally”

Mr. Li Shanquan put forward five advises for Chinese enterprises to go globally. Firstly, we shall establish or buy the global mining industry data base for scientific decision depends on information. Secondly, we should track the information of the listed mining enterprises based on the global mining industry date base. Thirdly, qualified enterprises shall build up their own technique teams to specifically follow intriguing mining projects of certain countries and regions. Fourthly, Chinese enterprises should try to buy some shares of the listed enterprises if interested so as to know more about the project. Fifthly, Chinese enterprises shall learn to cooperate and establish joint-venture companies.

Mr. Li Shanquan believed that Chinese enterprises shall learn to cooperate and establish joint venture companies so as to control the resources instead of controlling the listed mining enterprises. He also thought that private or mixed ownership enterprises are more popular overseas the state owned enterprises because of certain reasons.

Mr. Chen Jinghe considered that ‘Belt and Road Initiative’ shed light and provided a favorable policy environment for Chinese mining enterprises going globally. The government shall offer more financial and policies support for global-going mining enterprises. In addition, Chinese mining enterprises should also learn from excellent international counterparts, pay attention to the sound development of mining circle and avoid zero-sum competition. Chen Jinghe Said, “ against current market background, it would be a grave failure if China missed the opportunity to cultivate world-renown multi-nation mining group.” He also forecast that, with the RMB being put into international monetary system, Chinese capital will finally enter the global market and yield tangible fruits.

Madam Anita Marangoly Geogre, Senior Director, Energy & Extractives of the World Bank Group, said that mining industry is of enormous importance for sustainable development as 30% of GDP are coming from mining industry in some mineral countries. During the gloom period of global mining industry, we should strengthen reform and lower cost through innovation, integrated utilization and recycle utilization to ensure sustainable development and do good to the local natives. She promised that World Bank will play an assistant role in helping Chinese enterprises go globally. (Cheng Xujuan)

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 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on October 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: m.balanzskin.com.