News

China has Built the Global Mineral Resources Database

Source: www.mlr.gov.cn  Citation: www.gtzyb.com  Date: Nov.4, 2013

At present, the global mineral resources database which was built by China Geological Survey has covered more than 60 countries and regions. At the CHINA MINING forum-- private enterprises investment forum of “going outside” held on Nov. 2, Lian Changyun, director of China Geological Survey, disclosed that the database would be projected to cover more than 80 countries and regions by 2015, and provide more services about geological mineral database for “going outside” for Chinese enterprises.

It was introduced that this database would not only include different levels of all kinds of maps of drawing and remote sensing topographic map data of all continents and countries all over the world ,but also provide mining development information like mining rights registration status. Besides sending and publishing these data and information at mining exploration forum abroad, China Geological Survey will also provide the online inquiry services for enterprises.

Lian Yunchang expressed that the building of the system showed our country has formatted the mechanism of government setting up stage, technology going ahead, supporting enterprises "going outside" and developing international mining cooperation. Because of application of the mechanism, China Min-metals Group has gained some high quality mining rights abroad.

Lian Yunchang said the mechanism is consistent with international conventions. Countries as America, England, Japan, Korea, Canada, etc. have successively taken advantage of the mechanism to provide basic geological information through developing the international cooperation of taking the basic geological survey and resources potentiality assessment as the main content, so that reduced the risks of prospecting overseas for their domestic enterprises

It was introduced China Geological Survey has developed the search of metallogenic regularity of the global main ore-forming zone to meet the needs of  mutually beneficial cooperation of the global mining industry in recent years and conducted the international cooperation with many countries successively in geological mapping, geophysics , geochemical investigation. From nothing to everything, from small to large, outside geological works have made great progress in range and extent.（translated by TLRHVC）

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year.  As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2013 were held at Meijiang Convention and Exhibition Center in Tianjin on November 2-5, 2013.
please visit: m.balanzskin.com.

Chinese steel industry makes big losses in first quarter of 2014

Source: www.chinamining.org  Citation: Global Times  Date: Apr.29, 2014

The first quarter of 2014 has been the "coldest winter" for China`s iron and steel industry since 2000, as more steel mills saw deficits and steel output continues to rise, indicated a news release by China Iron and Steel Association (CISA) Monday.

In the first three months of 2014, steel firms tracked by CISA saw a total loss of 2.33 billion yuan ($373 million), compared to a 3.28 billion yuan profit gained in the same period of 2013, according to the first quarter report released by CISA.

About 45 percent of 315 Chinese steel companies monitored by the association suffered losses in the first quarter, 15 percent higher than the first quarter of 2013, the report said.

The first quarter has always been a slow season due to the low demand caused by cold weather and the Spring Festival holidays, Zhang Changfu, secretary-general of the CISA, told a conference on Monday.

The steel price at the end of March saw a 11.28 percent year-on-year decline and the price has been dropping for seven consecutive months, the report said.

Another sign of weak market demand is the surging steel inventory registered in the first quarter. At the end of March, the steel inventory reached 19.41 million tons, 43.65 percent higher than the beginning of January, according to the report.

The rapidly increasing inventory indicates production overcapacity. China`s crude steel output accounted for 49.97 percent of global output in the first quarter, the report said, only 0.03 percentage points lower than same period of last year.

The market demand for steel will not pick up against the backdrop of an economy facing downward pressure and the output will not see a big fall because of the large base of overcapacity, Zhang said, predicting the crude steel output will still have a 3 percent year-on-year growth in 2014.

In a bid to tackle overcapacity, China`s State Council has already released a guideline in October 2013, tightening control of capacity expansion and phasing out obsolete plants that fail to meet environment protection standards.

In the first quarter, Chinese steel industry saw an overall 3.34 percent year-on-year decrease on fixed-assets investment but fixed- assets investment in the private sector increased by 6.65 percent from last year, the report said.

Under pressure from overcapacity and the government`s requirements for capacity control, it became harder for steel enterprises to get loans from banks, he said.

Now banks have scaled down loans to steel companies and have also raised lending rates, weighing on steel mills` liquidity, Zhang said.

Although the steel industry is in a sluggish condition, there are still some companies that have good operations and are gaining profits, Zhang said, expecting banks can support the development of these firms.

For instance, Fangda Special Steel Technology Co, which is based in Nanchang, East China`s Jiangxi Province, made a 563 million yuan profit in 2013, with 7.5 percent year-on-year growth, according to its 2013 earnings report released on April 2.

Fangda owns three iron mines, which helps the company to reduce costs and control iron ore quality, Wang Guoqing, a research director at Beijing Lange Steel Information Research Center, told the Global Times.

Moreover, Fangda has high-quality products to help it maintain a stable market share and as a Shanghai-listed private company, it can get financing from the stock market to offset the sluggish industry`s negative impact on its capital chain, Wang 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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2014. We invite you to join the event and to celebrate the 16^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2014, please visit: m.balanzskin.com.

Sky-high “Chinese Queen” Appeared Yesterday

Source: www.mlr.gov.cn  Citation: www.enorth.com.cn  Date: Nov.2, 2013

The mineral is the flowers of stone which can be turned into energy for human. At the CHINA MINING 2013, opened at Meijiang Convention and Exhibition Center in Tianjin yesterday, rare mineral specimens which are native to all over the world were displayed, showing the charm of natural crystals. The most precious mineral specimen is called “Chinese queen”, whose selling price (converted into Renminbi) is RMB 22million, attracting all the visitors’ attention.

Dozens of rare mineral specimens were first displayed at CHINA MINING 2013 .Beautiful mineral crystals with gorgeous colors are authentically from nature without excessive sanding and machining. In Recent years, the collection of mineral specimens appeared in public view, for example the rhodochrosite “Chinese queen” from Wuzhou, Guangxi, which is entirely “Chinese red” . Its size is 40×22×36cm which is very unusual and its value is very high. The exhibits included emeralds from Zambia, pink tourmaline from Afghanistan and blue copper ore Malachite. The biggest is natural copper from Michigan which weighs in at roughly350 kilograms. Besides, others like MD4 four rotors UAV series from German, field Prospecting equipments, etc. were also exhibited at CHINA MINING 2013.

As one of the top mining conferences in the world, CHINA MINING will hold three main forums including theme forum, foreign mining minister forum and Enterprise Development Forum and 34 streams and 10 promotion conferences of national projects this year. At the same time, the CHINA MINING Organizing Committee confirmed CHINA MINING Congress and Expo will be held in Tianjin once a year from Oct. 20th to Oct. 23rd every year in future.  （translated by TLRHVC）

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year.  As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2013 was held at Meijiang Convention and Exhibition Center in Tianjin on November 2-5, 2013. We invite you to join the event and to celebrate the 15th anniversary of CHINA MINING with us. For more information about CHINA MINING 2013, please visit: m.balanzskin.com.

China to shut down 2,000 coal mines this year

Source: www.chinamining.org  Citation: www.mining.com  Date: Apr.04, 2014

China will shut down roughly 2,000 small coal mines this year, with a total capacity of 117.48 million tonnes, as part of the Beijing`s ongoing plan to reduce the alarming rates of air pollution and reduce the nation`s dependency on the fossil fuel.

According to the National Energy Administration (NEA), the first small-scale mines to go will be those old and depleting ones, in the east of the country. The government will also consolidate production from operations located in remote parts, including the vast northwestern regions of Inner Mongolia and Xinjiang, Reuters reports.

At the same time, China aims to increase the share of non-fossil fuels in its overall energy consumption to 10.7% in 2014, in an effort to further improve its energy efficiency, control energy consumption, optimize the energy mix and guarantee energy supply, said the NEA last month.

The idea of closing down mines is nothing new to China, which accounts for about 50% of the world`s coal consumption. In 2012 alone Beijing shut down 628 medium-sized coal mines, improved technological processes of 622 mines, merged 388 mines and phased out 97.8 million tons of outdated production facilities.

Last October, the Chinese government vowed to close at least 2,000 small coal mines by 2015 over safety concerns. The news came only a month after it said it wouldn`t allow more coal-fuelled installations near Beijing, Shanghai and Guangdong, in an effort to curb air pollution in the country`s most industrial regions.

China`s dependence on coal is well known. Annual consumption exceeded 1 billion short tons per year in 1988 and has exploded since then, to about 4 billion tons last year. This means the Asian giant gets about 70% of its energy from the fossil fuel, a number the government hopes to reduce to 65% by 2017.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year.  As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

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

Mining Development Forum

Source: www.mlr.gov.cn  Citation: www.mlr.gov.cn  Date: Nov.4, 2013

(Photo by Zhao Xinhao, Edited by Xu Xiaojing)

Mining development forum was held in Tianjin on Nov.4th, 2013. Mining directors discussed the global mining development trends and strategies for the global market place.（translated by TLRHVC）

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year.  As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2013 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 2-5, 2013. We invite you to join the event and to celebrate the 15th anniversary of CHINA MINING with us. For more information about CHINA MINING 2013, please visit: m.balanzskin.com.

China`s miners to step up push overseas

Source: www.chinamining.org  Citation: www.scmp.com  Date: Apr.04, 2014

"The reason we are interested in [the Las Bambas] project is that we want to further boost our resources and raise Chinese firms` influence on bulk commodities in the global market," China Minmetals vice-president Li Fuli said. Photo: AP

Chinese mining companies will be on the prowl this year to acquire more firms or forge joint ventures in regions ranging from Africa to Latin America to Southeast Asia as they try to feed the country`s voracious appetite for the iron ore and precious and industrial metals vital for an economy that has slowed but is still expanding at a healthy clip.

Industry data shows China accounted for nearly 14 per cent of all mining mergers and acquisitions activity by value last year, but the number of Chinese transactions slid to 21 from 34 and their value declined to US$5 billion from US$6 billion in 2012, according to a research report by PwC.

Last year was one of the worst years for global mining M&A in nearly a decade, with the total deal value at its lowest since 2004, a PwC report said.

The sour mood in the global mining sector was exacerbated by soft metal prices that in turn reduced mining company profits, the report said. This caused mining companies to focus on reducing debt and controlling costs instead of acquiring mines, PwC said.

China`s share of global mining deals may be bigger this year, said Ken Su, the China mining and metals leader at PwC.

"China has become relatively more important globally. While 2013 was one of the worst years for mining mergers and acquisitions, China outpaced nations such as Canada, Australia and the US," Su said.

"We might see some bigger deals announced in 2014."

China is the world`s top producer of steel and also its leading importer of iron ore. Over 95 per cent of the iron ore it imports is processed into steel, which is widely used for everything from shipbuilding to construction.

The country is also the world`s leading consumer of copper, a key industrial metal widely used by power companies. It is the world`s biggest producer of gold and also the top importer and consumer of the precious metal.

PwC global mining leader John Gravelle cited the Las Bambas copper mining project in Peru as an example of China`s mining firms reaching out for major investments overseas.

On March 19, MMG, a Hong Kong-listed subsidiary of China Minmetals, a  state-owned enterprise, confirmed it and two other Chinese firms, Guoxin International Investment and Citic Metal, were in discussions to acquire a stake in Las Bambas from Glencore Xstrata, the Swiss resource giant.

While 2013 was one of the worst years for mining mergers and acquisitions, China outpaced nations such as Canada, Australia and the US KEN SU, PWC

Gravelle estimated the Chinese consortium would pay US$4 billion-US$6 billion for a stake in Las Bambas, roughly equal in value to all Chinese mining mergers and acquisitions last year.

"This is a mega-deal for sure. If this happens, it will stand out compared with the last two years," said Su.

But the average deal size of Chinese investments in overseas mines will be smaller, because more private Chinese companies, which lack the financial muscle of state-owned enterprises, are investing in mines abroad, Su said.

Last year, the China-Africa Development Fund invested in more than 20 mining projects on the continent, covering iron ore, copper, gold and other metals and minerals, an executive with the fund, which is a subsidiary of state-owned China Development Bank, said.

Chinese firms are looking not only at Africa and Latin America. Closer to home, they forged deals with Indonesia during the visit of President Xi Jinping to the country in October.

In mining, these included a US$5.1 billion deal to construct a ferronickel plant with an annual capacity of 300,000 tonnes in Sulawesi, a US$1 billion joint-venture deal to construct an aluminium processing plant, and a deal between Hangzhou Jinjiang and Borneo Alumindo Prima for a US$1.7 billion bauxite and aluminium processing plant.

China`s demand for mining resources will grow 3-6 per cent this year, Gravelle estimated. The China Metallurgical Industry Planning and Research Institute, a mainland industry group, predicted China`s total iron ore imports would rise 6.3 per cent to 850 million tonnes this year, about half of which would come from Australia.

Western Australia`s iron ore exports to China rose 23.5 per cent to 425 million tonnes last year, and China accounted for 76 per cent of the state`s iron ore exports, the Western Australian government said.

This year, the total value of Chinese overseas mining investments will probably rise, but the nature of the mining assets being acquired will shift towards gold and copper, said Carrie Chen, senior vice-president of M&A at Citic Securities.

Su said investment will gravitate towards gold mines.

"When we talk to Chinese companies in general, they have a positive outlook on gold prices. They think the price is going to go up," he said.

 "Gold is seen as a safe investment. There is a flight to quality, as there are challenges in the global economy."

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year.  As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

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

Mining Ministers Forum

Source: www.mlr.gov.cn  Citation: www.mlr.gov.cn  Date: Nov.4, 2013

(Photo by Zhao Xinhao, Edited by Xu Xiaojing)

Mining minister’s forum was held in Tianjin on Nov.4th, 2013. Mining ministers/vice ministers from different countries discussed the global mining development trends and strategies for the global market place.（translated by TLRHVC）

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year.  As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2013 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 2-5, 2013. We invite you to join the event and to celebrate the 15th anniversary of CHINA MINING with us. For more information about CHINA MINING 2013, please visit: m.balanzskin.com.

Wang Min Meets with the Secretary of Argentina Mining Department

Source：www.mlr.gov.cn  Citation：www.mlr.gov.cn  Date：Nov.03, 2013

(Photo by Zhao Xinhao Xu Xiaojing)

Deputy minister Wang Min met with Jorge Omar Mayoral, Secretary of Argentina Mining, Federal Ministry of Public Investment Planning and Services of Argentina on Nov.03, 2013, and the two sides had a friendly conversation. Wang Min representing China transferred the achievement of 1: 250000 geochemical mapping project of Northwest Argentina, which was completed by both countries. (translated by TLRHVC)

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2013 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 2-5, 2013. We invite you to join the event and to celebrate the 15th anniversary of CHINA MINING with us. For more information about CHINA MINING 2013, please visit: m.balanzskin.com.