CHINA MINING News

EU tariffs on Chinese steel called unfair

Source: www.chinamining.org         Citation: China Daily    Date: November 21, 2016

The latest anti-dumping tariffs levied on Chinese steel products by the European Union could lead to a sharp fall in exports of China`s seamless steel pipes and tubes to the region, according to a leading industry expert.  

Wang Guoqing, director of the Lange Steel Information Center, says the duties imposed on iron and steel seamless pipes and tubes, ranging from 43.5 to 81.1 percent, are aggressive and may wipe out much of manufacturers` profit margin and lead to a sharp decline in exports to the EU.  

The EU imposed provisional anti-dumping tariffs for six months on Chinese steel and iron products on Nov 14 after manufacturers in the bloc lodged numerous complaints about Chinese competitors allegedly exporting at unfairly low prices.  

The European Commission, the EU`s executive body, says it will decide whether to support the anti-dumping measures and extend the restrictions for five years.  

"Most seamless tube manufacturers in China are small-scale. They feel powerless facing anti-dumping sentiment. But from earlier experience, companies that file appeals sometimes get much lower anti-dumping tariffs. Therefore, the Chinese government should provide consulting for these companies to help them with the legal process," says Wang.  

China`s Commerce Ministry says the EU`s decision, based on the fact that China`s steel export prices are lower than those of other exporters to the region, was unfair.  

"China offers competitive prices because it has large-scale steel production. The fact that its prices are lower than those of other exporters does not mean that it is dumping the products at prices lower than domestic costs," says Wang.  

A report by 315.com.cn, a Chinese bulk commodity information and trading website, said global output of seamless steel pipes and tubes dropped 14.6 percent year-on-year to 41.44 million metric tons in 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 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: www.chinaminingtj.org.

China association protests markup by overseas iron ore producer

Source: www.chinamining.org         Citation: Xinhua     Date: November 21, 2016

The China Iron and Steel Association (CISA) has protested at a markup by a leading iron ore producer that targets Chinese buyers.

"It is obviously unfair," a CISA official said on Friday, who did not name the company but hinted it is among the world`s top-three iron ore miners.

When discussing new agreements with Chinese steel firms, the company decided to impose a premium in addition to prices published by Platts, a benchmark price assessment in physical energy markets, the official said.

The official said the practice damaged the current pricing mechanism and disturbed trade order, and called on the two sides to "sit down and talk" to solve the problem together.

China is the world`s biggest consumer of iron ore, with the imports up 8.9 percent year on year in the first ten months.

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: www.chinaminingtj.org.

China to boost geothermal power consumption in 2016-2020

Source: www.chinamining.org         Citation: Xinhua     Date: November 18, 2016

BEIJING - China will boost the development of geothermal power in the next five years to reduce coal consumption and improve air quality, an energy official said on Thursday.  

In particular, China will promote the use of geothermal power in the Beijing-Tianjin-Hebei region to replace coal for heating to reduce carbon dioxide emissions and improve air quality, Li Yangzhe, deputy Source: www.chinamining.org         Citation: Xinhua     Date: November 18, 2016director of the National Energy Administration, told an international forum on geothermal power.  

Li said China will provide policy support to boost geothermal power exploitation and consumption during the 2016-2020 period.  

China is expected to more than triple its geothermal power consumption by 2020 to 72.1 million tonnes of coal equivalent from the current level.  

China consumed about 20 million tonnes of coal equivalent of geothermal resources for heating, power generation and other uses in 2015, official data showed.  

By 2020, geothermal power will likely account for about 1.5 percent of the country`s total energy consumption, helping to reduce carbon dioxide emissions by 177 million tonnes.

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: www.chinaminingtj.org.

Pakistan to engage in joint oil, gas projects with China: UAE

Source: www.chinamining.org         Citation: Xinhua     Date: November 09, 2016

Pakistan`s Petroleum and Natural Resources Minister Shahid Khaqan Abbasi said Tuesday the China-Pakistan Economic Corridor (CPEC) focuses on infrastructure development, his country also hopes that the project could be a driver for joint oil and gas projects.  

"We are hopeful that Chinese oil and gas companies will invest in the energy performance sector and also in other sphere of Pakistan`s business," Abbasi told Xinhua on the sidelines of the ongoing Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC).  

On the possibility of joint investments in liquefied natural gas (LNG), the minister said "China, like Pakistan, is an importer of LNG, but we are in discussions with Chinese firms as they have the relevant technology to explore and export LNG."  

The CPEC is a pilot project under the Belt and Road Initiative. China and Pakistan have recently launched a host of projects focusing on energy and transport infrastructure.  

On Aug. 4, 2016, Pakistan`s Finance Minister Ishaq Dar said in Dubai when he met officials of the International Monetary Fund (IMF) that the world will see the ongoing construction of the CPEC not only serves both countries, but the entire Central Asian region.  

This shared prosperity will benefit the whole region because these infrastructure projects will be later expanded to neighboring Afghanistan and Iran, 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: www.chinaminingtj.org.

State councilor urges strengthened cooperation along Belt and Road

Source: www.chinamining.org         Citation: chinadaily.com.cn     Date: November 04, 2016

Countries and regions along the Belt and Road are urged to strengthen cooperation in infrastructure construction, energy resource development, finance, education, science, technology, tourism and medical care, said State Councilor Wang Yong.  

Construction of infrastructural facilities will facilitate connections between the countries and regions while education, science, technology, tourism and medical care concern people`s livelihoods and are the foundation for the construction of the Belt and Road, Wang said.  

He made the remarks in his keynote speech delivered today at the 8th West China International Cooperation Forum in Chengdu, Sichuan province, which is being held under the theme of jointly building the Belt and Road for a bright future.  

The Belt and Road Initiative, which comprises the Silk Road Economic Belt and the 21st Century Maritime Silk Road, was put forward by President Xi Jinping in 2013.  

Since then, more than 30 countries have signed agreements with China to cooperate in the construction of the Belt and Road.  

The Belt and Road connects 64 countries and 4.5 billion people in the world. The initiative not only involves economy but also boosts cultural and social exchange in different civilizations, said Mohammad Sarwar Danesh, second vice president of Afghanistan.  

His country, which boasts more than $3 trillion worth of mineral resources, fully endorses the Belt and Road initiative, he said.  

Afghanistan abounds in iron and copper ore, gemstones and stones for decoration. China can invest in the fields and Afghanistan can sell its products to China, he said.  

Milorad Dodik, president of the Serb Republic, said his country has cooperated with China in the construction of the Belt and Road. With investment from China, construction of a thermal power station started in the Serb Republic last month.  

The main contract for the station is with Dongfang Electric, a State-owned firm headquartered in Chengdu, the president said.  

The project has created more than 1,000 jobs in the Serb Republic and it is the largest direct foreign investment the country has received in recent years, he said.  

It is only the beginning of the cooperation, he said. At the end of this year, a Confucius Institute will be launched in his country.  

The 8th West China International Cooperation Forum is part of the 16th Western China Economic Fair being held in Chengdu from today to Nov 14.

Nearly 9,000 firms from 75 countries and regions are attending the fair, including some of the world`s leading firms, such as Daimler, METRO and DHL.

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 set to hit steel, coal capacity-cut targets early

Source: www.chinamining.org         Citation: Xinhua     Date: October 26, 2016

China will hopefully achieve its annual steel and coal capacity reduction goals ahead of schedule this year, the country`s top economic planner said on Tuesday, as local authorities have intensified efforts in recent months due to pressure from the central government.

By the end of September, China had accomplished over 80 percent of its goals for steel and coal production cuts, the National Development and Reform Commission (NDRC) told a press conference.   

China is the world`s largest producer and consumer of steel and coal. Cutting overcapacity is high on the central government`s reform agenda as the two industries have long been plagued by overcapacity and have become a major drag on China`s growth in recent years.   

The country has vowed to cut steel capacity by between 100 and 150 million tons by 2020, including 45 million tons in 2016. This year`s coal reduction target is 250 million tons.   

Capacity-cutting efforts have led to a recovery in both steel and coal prices. At the end of October 21, the steel composite price index stood at 79 points, up over 40 percent since the start of the year.   

The Bohai-Rim Steam-Coal Price Index, a benchmark index, rose to 577 yuan ($85.1) per ton last week, the highest since the start of the year.  

The price rises offered a broad positive in China`s struggle to tackle high corporate debt, with producer prices rising in September for the first time in nearly five years.  

The NDRC said it will continue efforts to shed unnecessary production capacity in steel and coal to facilitate structural overhaul in the long term.

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.

Belt and Road lights up global growth

Source: www.chinamining.org         Citation: Xinhua    Date: October 24, 2016

Although the world has been mired in sluggish economic growth, countries along the Belt and Road Initiative are bucking the trend.

According to a report Wednesday by China`s National Bureau of Statistics, despite a slight decline of trade volume overall, China`s imports and exports with the Belt and Road countries have impressively increased over the last three quarters of 2016.   

China`s exports to Pakistan, Russia, Poland, Bangladesh and India have increased by 14.9 percent, 14 percent, 11.7 percent, 9.6 percent and 7.8 percent respectively, compared to last year`s numbers. China also continues to import more bulk commodities including iron ore, crude oil, coals and coppers from Belt and Road countries.   

Charles Onuaiju, director of Nigeria`s Center for China Studies in the capital Abuja, said that the Belt and Road is a model of global development that stresses inclusiveness and participation.   

Countries including Cambodia and Bangladesh have also connected their domestic development plans to the Belt and Road in a bid to bolster growth and explore further opportunities.  

Former Prime Minister of the Czech Republic Jiri Paroubek said the Belt and Road can accelerate the economic growth of many Eurasian countries and will also become a driving force for the overall development of the global economy. 

The Belt and Road Initiative refers to the Silk Road Economic Belt and the 21st-Century Maritime Silk Road initiative proposed by Chinese President Xi Jinping in 2013. The initiative brings together countries in Asia, Europe and Africa via overland and maritime networks.   

Trade between China and the Belt and Road countries exceeded $600 billion, 26 percent of China`s total foreign trade volume, during the first eight months of 2016, said Fang Aiqin, deputy head of China`s Ministry of Commerce.  

Investment and financing is another cornerstone of the Belt and Road plans.  

From January to August, China invested nearly $10 billion in countries along the Belt and Road through financial institutions including the Asian Infrastructure Investment Bank (AIIB) and the Silk Road Fund, according to the ministry. 

Preliminary estimates showed that loans provided by the AIIB were to the tune of $1.2 billion in 2016 and are expected to rise to $2.5 billion in 2017 and $3.5 billion in 2018.   

The New Development Bank (NDB) is another key institution for multilateral financial cooperation. The bank, jointly founded by China, Russia, Brazil, India and South Africa, officially opened in July, 2015 in Shanghai with an initial authorized capital of $100 billion.   

The bank has approved five investment projects in the area of clean energy, one in each member country, for a total of over $900 million, a fact sheet provided by the bank has shown.  

Also according to preliminary estimates, totals loan provided by the NDB are $1.5 billion to $2 billion, $2 billion to $2.5 billion and $4 billion to $5 billion for the years 2016, 2017 and 2018 respectively.  

Under these measures, Pakistan has witnessed a boom in infrastructure construction. The China-Pakistan economic corridor is regarded as the first chapter of the Belt and Road symphony. With the economic corridor at the center and the Gwadar Port, transport infrastructure, energy and industrial cooperation being another four key areas, a "1+4" cooperation structure is gradually taking shape.   

Pakistani Prime Minister Nawaz Sharif has said that the China-Pakistan economic corridor is a boon to the whole region and it will bring tangible benefits to the 3 billion people of China, Central Asia, South Asia and the Middle East.  

Many Belt and Road countries have also witnessed an increase in employment and decrease in poverty.   

Bilateral economic and trade cooperation between China and Bangladesh is a good example. An increasing number of Chinese investors have opened factories in the populous South Asian country, raising employment along with the training of personnel.  

The Belt and Road Initiative has only begun, and experts believe it will be further integrated into the global economy in the future.   

The initiative acknowledges people`s hopes for a better life and champions the diversity of values in the world, said Onuaiju, director at the China center in Abuja.   

Without any doubt, it will also promote world peace, stability and prosperity.

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 and EU vow to tackle steel overproduction

Source: www.chinamining.org         Citation: chinadaily.com.cn     Date: October 20, 2016

Vice-Premier Ma Kai said on Tuesday the global economic slowdown was the main cause of the overcapacity of steel, something Beijing and Brussels will tackle together.

Ma said steel overcapacity is a global problem but noted that China made concerted efforts between 2011 and 2015 to cut its overcapacity.   

"We are determined to reduce steel overcapacity by 100-to-150 million tons during the 2016 to 2020 period," said Ma, who was co-chairing the annual EU-China High-level Economic and Trade Dialogue in Brussels, along with Jyrki Katainen, vice-president of the European Commission. "This amount roughly equals the total of European capacity."  

"I can tell you that we are going to reduce 50 million tons this year and we will complete this task," he said. "We have checked the numbers onsite and they are solid." 

Katainen said both sides followed up on the last summit`s agreement to establish a dedicated bilateral platform on steel and the Global Forum set up at the G20 summit in Hangzhou. 

More than 50 top executives representing the European steel industry have written to European Union leaders calling for tougher anti-dumping measures to deter what they regard as unfair competition from China. Their demands for a tougher US-style tariff regime will find an echo among some European leaders worried by the impact of imports of domestic plants and jobs. But once again Britain, facing negotiations on the terms of its exit from the EU, is likely to be the odd man out.   

The UK has consistently said it backs China`s claim to market economy status.

Britain has in the past been among those blocking proposed toughening anti-dumping measures, despite the challenges currently confronting the UK steel industry. In March, unnamed senior EU officials were quoted as saying Britain had blocked attempts to reform EU anti-dumping rules to combat what was described as a glut of cheap Chinese steel imports.

About CHINA MINING

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

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