CHINA MINING News

China drafts plan to limit coal price volatility - report

Source: www.chinamining.org         Citation: Reuters      Date: January 12, 2017

China has drawn up a mechanism aimed at limiting future volatility in coal prices and is seeking support from the industry for the new measures, according to a media report. 

The plan, drafted by industry associations and key government agencies, was circulated among industry players late on Wednesday, newspaper Shanghai Securities News reported.

It comes after Chinese coal prices soared last year following moves by Beijing to shutter inefficient producers, with the effects felt across the world. 

Benchmark thermal coal prices rose to 592 yuan ($85.45) per tonne this week from 370 yuan in January 2016.

The plan did not give details on specific responses to be taken but said they would be applied based on the level of volatility in price.

($1 = 6.9284 Chinese yuan renminbi)

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: www.chinaminingtj.org.

Sudan, China keen on sound mining cooperation

Source: Xinhua         Citation: Xinhua      Date: January 4, 2017

KHARTOUM, Jan. 4 (Xinhua) -- Sudan government on Wednesday vowed to provide the appropriate climate for the Chinese investments in Sudan in field of minerals together with the necessary protection for the Chinese miners.

"We promise to provide the appropriate climate for the Chinese investments in Sudan in the mining field together with the protection for the Chinese companies and miners working in Sudan," said Ahmed Mohamed Sadiq Al-Karuri, Sudan`s Minerals Minister, when addressing the forum Wednesday.

"Sudan enjoys an attractive environment for investments, which attracted the investors. We have around 361 foreign companies operating in field of exploration of minerals, particularly gold," he noted.

He went on saying that "we are looking forward to receive more Chinese investments in the mining field. The cooperation between the two countries has to be enhanced to achieve the aspired benefit. Sudan enjoys natural resources and huge wealth, while China maintains the necessary experience."

Chinese Ambassador in Khartoum Li Lianhe said that "The Chinese side attaches a great concern to the cooperation with Sudan in the mining field. China has sent many experts in this field to Sudan to enhance the cooperation between the two sides."

"We have about 20 Chinese companies operating in about 30 mining fields in Sudan. These companies have achieved profits of over 100 million U.S. dollars. We hope to enhance this partnership in a manner that suits the level of bilateral ties between the two countries," he added.

Sudan-China Mining Communication Forum was held in Khartoum on Wednesday in presence of Sudan`s Minerals Minister, Chinese Ambassador to Sudan, Chairman of Chinese Miners Association in Sudan and representatives of the Chinese companies operating in field of mining in Sudan.

Sudan is seeking to increase its minerals production, namely gold, to compensate the loss of around 75 percent of its oil revenues following the separation of South Sudan in 2011.

The Sudanese government had previously anticipated the country`s gold production to reach 100 tons by end of 2016, positioning Sudan as the second gold producing country in Africa and the ninth worldwide.

There are over two million Sudanese employees in traditional mining, producing 80 percent of the country`s gold, while the Sudanese central bank purchases the gold from them across the country.

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: www.chinaminingtj.org.

Global manufacturing PMI hits 34-month high in December

Source: Xinhua         Citation: Xinhua      Date: January 4, 2017

BRUSSELS - The activity in the global manufacturing sector has hit a 34-month high in December as the growth was generally led by the United States and Western Europe regions, according to a survey released by Markit Economics on Tuesday.

JP Morgan Global Manufacturing PMI rose for the fourth straight month to 52.7 in December, up from 52.1 in November, its highest level since February 2014.

A reading above 50 indicates an expansion, while one below that level points to a contraction.

Global manufacturing production increased at the fastest pace for two-and-a-half years in December, underpinned by the steepest intake of new work since July 2014, according to the survey.

"The improvement in the headline PMI to a 34-month high rounds off a generally positive second half of the year for the global manufacturing sector," David Hensley, Director of Global Economic Coordination at JP Morgan said.

With rates of expansion in production and new order volumes having gathered pace during the latter part of 2016, the sector will start 2017 on a solid footing with positive momentum building and job creation accelerating, he added.

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: www.chinaminingtj.org.

China economy shows solid foundation

Source: Xinhua         Citation: Xinhua      Date: January 3, 2017

BEIJING - China`s GDP growth is expected to fall solidly in the target range of 6.5 percent to 7 percent as both official and private data point to a stabilizing economy.

China`s manufacturing sector continues to expand, with the purchasing managers`index (PMI) hitting a 47-month high in December, a private survey showed Tuesday.

The Caixin factory PMI, based on surveys of small and medium enterprises, came in at 51.9 in December, up from 50.9 in November, according to the survey by financial information service provider Markit, sponsored by Caixin Media.

It was the biggest index rise since January 2013, with production growing at the fastest pace in nearly six years due to higher numbers in new work.

Official manufacturing PMI, which surveys larger companies, stood at 51.4 in December, lower than 51.7 in November but above the boom-bust line of 50 for the fifth straight month, the National Bureau of Statistics (NBS) said Sunday.

"The Chinese manufacturing economy continued to improve in December, with the majority of sub-indices looking optimistic," said Zhong Zhengsheng, director of macroeconomic analysis at CEBM Group, a large investment research firm.

Alongside booming factory output, profits of China`s major industrial firms increased 14.5 percent year-on-year in November, up from 9.8 percent in October, official data showed last week.

China`s non-manufacturing industries also showed strong expansion in December, second only to November this year, the NBS data showed.

GDP growth in the fourth quarter of 2016 is expected to stay flat at 6.7 percent year-on-year, with stronger fixed asset investment and retail sales in December, according to China International Capital Corporation.

China`s target for GDP growth was 6.5 percent to 7 percent in 2016, and it saw stable 6.7 percent growth in the first three quarters.

"However, it remains to be seen if stabilization of the economy can be consolidated, due to uncertainty if restocking and consumer price rises are sustainable,", Zhong said.

Inflationary pressures remained sharp in December, with the Caixin factory PMI showing input prices picking up to their highest since early 2011, amid reports of higher raw material costs.

The basic plan of "seeking progress while maintaining stability" will be an important principle in state governance and methodology for economic work, with implementation of critical importance for 2017, according to the Central Economic Work Conference.

China International Capital Corporation expect macro data in December to show continued broadening of reflation in mid-to-downstream industrial sectors, which may lead to further recovery in manufacturing investment.

Meanwhile, the corporation has observed early signs of an upturn in credit demand from the private and manufacturing sectors for the first time since 2011.

"We remain hopeful that nominal growth and profitability will continue on the mend in 2017," the corporation 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: www.chinaminingtj.org.

Romania seeks energy involvement in Belt and Road Initiative

Source: chinadaily.com.cn         Citation: Xinhua     Date: December 15, 2016

BUCHAREST - Romanian experts and advisors saw Romania`s potential in developing long-term energy cooperation with China under the Belt and Road Initiative.

At a "Fuel and the Silk Road" conference held Wednesday in Bucharest, they agreed that China will be more and more an outstanding economic partner for many countries, and that Romania, a major geopolitical actor at the Black Sea and the eastern frontier of the Euro-Atlantic structure, should definitely strengthen its economic ties with China and take part in the Silk Road Initiative.

Vasile Iuga, a senior advisor with PwC Romania, said China`s Belt and Road Initiative would involve 70 percent of the world`s energy resources to ensure global energy security through energy-saving programs and the diversification of energy resources.

Petrisor Peiu, director of the Black Sea University Foundation think tank, which organized the conference, reminded that Romania`s oil refineries, which are very competitive and have huge processing capacity, should be a valuable asset for Silk Road projects.

Radu Dudau from the Energy Policy Group said that many Chinese delegations and private investors came to the Romanian Energy Ministry in 2016, and that the two countries are discussing the possibility of building two new nuclear reactors in Cernavoda power plant.

It suggests that China can be a reliable long-term business partner for Romania, Dudau said.

Liviu Muresan, president of the EURISC think-tank, calls the Belt and Road Initiative "a project of the century."

"It is of huge interests," said Muresan, "Romania possesses some assets and therefore has the potential to play a role in the energy sector."

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: www.chinaminingtj.org.

Chinese fund invests 4 bln USD in Africa

Source: Xinhua         Citation: Xinhua     Date: December 14, 2016

GUANGZHOU, Dec. 14 (Xinhua) -- The China Africa Development Fund (CAD Fund), an equity investment fund managed by China Development Bank, had invested 4 billion U.S. dollars in Africa as of the end of November, authorities said Wednesday.

Since its establishment in 2007, the fund has invested in 88 projects in 37 African countries. The projects cover areas including infrastructure, processing and manufacturing, and energy and mineral resources, said Wang Yong, vice president of the fund, at a business partnership event attended by Chinese and African companies in Guangzhou.

In addition to investment directly from the CAD Fund, the projects have attracted a further 17 billion U.S. dollars in the form of enterprise investment and bank loans to Africa, according to Wang.

Every U.S. dollar the CAD Fund invests attracts some five U.S. dollars of investment from Chinese companies and banks, he said.

With an initial seed fund of 1 billion U.S. dollars, the CAD Fund was set up to diversify financial vehicles to facilitate Chinese investment in Africa.

The fund mainly focuses on long-term investment projects such as industrial development, agriculture, infrastructure, and resource development.

About CHINA MINING

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

CHINA MINING Congress and Expo 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin 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: www.chinaminingtj.org.

China to boost biomass energy development in 2016-2020  

Source: Xinhua         Citation: Xinhua      Date: December 5, 2016

BEIJING, Dec. 5 (Xinhua) -- China will boost the development of biomass energy in the next five years to reduce coal consumption and improve air quality, the National Energy Administration said Monday.

China will achieve biomass energy equivalent of 58 million of tonnes by 2020, according to the administration`s 2016-2020 biomass energy development plan.

The use of biomass energy will be more commercialized and industrialized by 2020, the plan said.

Biomass is defined as biological material--generally farm or forestry byproducts--that can be used directly to produce heat via combustion or indirectly after being converted to various biofuels.

Although China produces the biomass energy equivalent of about 460 million tonnes of coal annually, mostly for biogas, biomass power generation and biomass heating,the vast majority is not harnessed as the proper technology is not fully in place.

China is promoting non-fossil energy, including biomass energy, to power its economy in a cleaner, more sustainable fashion. The government aims to lift the proportion of non-fossil energy in the energy mix to 20 percent by 2030 from the current level of around 11 percent.

China`s energy mix is currently dominated by coal.

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: www.chinaminingtj.org.

China, Brazil should work together on steel overcapacity: MOC

Source: www.chinamining.org         Citation: Xinhua      Date: November 23, 2016

China and Brazil should work together to address steel sector overcapacity, as protectionism only compounds the situation, China`s Ministry of Commerce (MOC) said Tuesday, after Brazil launched probes into Chinese steel products.  

"The Chinese government has always held that trade remedies should be used in a cautious and restrained manner, and encouraged its businesses to solve trade frictions through trade, investment and technological cooperation with their foreign counterparts," said Wang Hejun, head of the MOC trade remedy and investigation bureau.  

Protectionism will do no good in overcoming difficulties in the global economy and steel sector. On the contrary, it will hinder normal trade, Wang said.  

The two emerging economies are closely-related in the steel sector as Brazil boasts vast iron ore deposits, and China is the largest steel producer in the world.  

Wang`s remarks came after Brazil announced Monday its first anti-subsidy investigations into hot rolled steel plate from China. Chinese steel products saw 14 anti-dumping probes from the Brazilian government in the past five years, with most cases ending in restrictive measures.  

But Chinese steel accounts for less than two percent of the Brazilian market, according to Wang.  

Plagued by excess production, the global steel sector has seen more trade disputes in recent years, with Chinese companies suffering the most.  

China is calling for unity in tackling severe overcapacity, and has achieved remarkable progress in downsizing its domestic steel industry.  

The country has reduced more than 90 million tons of excess capacity during the past five years, and the government plans to slash more by 2020.

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: www.chinaminingtj.org.