CHINA MINING News

China questions EU ruling on Chinese hot-rolled coil

Source: www.chinamining.org     Citation: Xinhua          Date: May 09, 2017

China`s Ministry of Commerce (MOC) on Friday questioned the European Commission`s (EC) anti-subsidy ruling on Chinese hot-rolled coil, criticizing improper practices in the investigation.

The commission has ruled that Chinese producers of the steel product received subsidies ranging from 4.9 percent to 42.6 percent. 

Ignoring the fact that Chinese commercial banks operated independently in accordance with market principles, the EC asserted their loans to the producers were preferential lending, said Wang Hejun, head of the trade remedy and investigation bureau at the MOC. 

The commission also wrongly took banking loans obtained by state firms as bestowal, which inflated the subsidy range, Wang said. 

China urged the EC to strictly abide by WTO rules to correct the improper ruling as soon as possible, he stressed, pledging to take necessary measures to defend the rights of Chinese companies. 

Hot-rolled coil, a major variety of steel product, is widely used in construction and machinery building.

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 in September 23-25, 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 joins UK nuclear energy development for Hinkley Point Project

Source: www.chinamining.org     Citation: CGTN          Date: May 03, 2017

In the remote countryside of southwest Britain, construction has started on the first permanent structures at the 25-billion-U.S.-dollar Hinkley Point nuclear power station. Financed jointly by the Chinese and the French, it`s a significant step towards building the UK`s first new nuclear power plant in nearly three decades. 

As CGTN`s Richard Bestic reports, three million cubic meters of earth have been moved for the project, about half of the final amount. And the first concrete has been poured, a significant moment of permanency. 

It`s taken years getting to this point, a remarkable joint venture involving the governments of the UK, China and France. For such a gargantuan project, it needs its own jetty for building materials shipped by sea. 

Running at full capacity, the reactor will provide around seven per cent of Britain`s energy needs - British consumers controversially repaying the initial cash outlay in higher energy costs.

For the governments of Britain and China, Hinkley Point could act as a possible trigger for a further eight nuclear power stations, some entirely paid for and built by China. This could prove to be not just a renaissance for the nuclear power industry here, but also for longer-term Sino-UK industrial links.

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 in September 23-25, 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.

Kenyan president hails China for boosting its geothermal power

Source: www.chinamining.org     Citation: Xinhua          Date: May 02, 2017

NAIVASHA, Kenya - Kenyan President Uhuru Kenyatta on Friday hailed Chinese government for its assistance in boosting geothermal power production in the country. 

Kenyatta said the Chinese have extended financial and technical expertise that has made Kenya become a leading geothermal electricity producer. 

"We are very grateful to the people and government of China for their assistance that has enabled Kenya to exploit its enormous geothermal resources," Kenyatta said in Naivasha when he broke ground for the construction of the Olkaria V power project which will produce 158 MW of electricity.

The President at the same time also commissioned 14 wellhead units producing a total of 75 mW of electricity. 

The "wellhead unit" is a unique technology to harness geothermal power, which has reduced the duration between the first drilling of a well and installation of a geothermal plant from five years to two years. 

The Export-Import Bank of China has given a $400 million loan facility to enable Kenya to conduct drilling for geothermal steam. 

The financial assistance was for drilling 80 wells; but given the efficiency and expertise of the Chinese firm, Great Wall Drilling Company, 89 geothermal wells have been drilled. The drilling began in September 2012 and the last well was completed in June 2016. 

Kenyatta said the expansion of geothermal power production will contribute to Kenya`s prosperity. "In commissioning these wells, and in breaking ground for the new project, we take a mighty step on the road to prosperity for this nation," he noted. 

He added that Kenya has one of the largest reserves of geothermal energy and more plants will be constructed to harness the power for the benefit of Kenyans. 

"This form of energy is not subject to the vagaries of the weather, and that it runs at a respectable rate of more than 90 percent of the time every year, means that we can bring reliable power to every Kenyan home," said the Kenyan leader. 

Once the geothermal power plant is connected to the national grid, more Kenyan households are expected to access electricity.

Government data indicates that since 2013, electricity connections have risen to 5.9 million households representing 63 percent of the total population, up from 2.26 million.

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 in September 23-25, 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.

SOEs pledge more cuts to production capacity

Source: www.chinamining.org     Citation: Xinhua       Date: April 28, 2017

Reform of industries seen as an important link in pushing forward supply-side structural reform 

BEIJING - China`s central state-owned enterprises have pledged to continue to cut production overcapacity in some industrial sectors, aiming to reduce steel capacity by 5.95 million metric tons and coal by 24.73 million tons. 

"Detailed plans have been made by central SOEs," says an insider, who asks to remain anonymous. 

China Huaneng Group says it is considering cutting 9.14 million tons of coal production capacity by the end of 2018 while dealing with 16 of the group`s "zombie companies".

Zombie companies are economically unviable businesses, usually in industries with severe overcapacity, which only survive due to financing from the government and banks. 

China PolyGroup Corp, a state-run conglomerate, has vowed to close inefficient coal mines and reorganize 39 of its subordinate companies to improve profits. The latest efforts by the central SOEs will reinforce their achievements made in 2016 in reducing overcapacity. 

Last year, the central SOEs reduced steel production capacity by more than 10.19 million tons and coal capacity by 34.97 million tons, both beating annual targets. 

The capacity cut drive by central SOEs is only apart of China`s bigger picture in slashing overcapacity. 

The country aims to curtail steel production capacity by around 50 million tons and coal by at least 150 million tons this year, a key part of the country`s supply-side structural reform. 

To improve its growth quality and efficiency, China began its supply-side structural reform in 2015 to cut overcapacity, reduce inventory, deleverage, lower costs and strengthen weak links. 

"China`s SOE reform is an important link in pushing forward supply-side structural reform," says Li Jin, chief researcher of the China Enterprise Research Institute. 

Realizing the significance of SOEs to the country`s sustainable growth, China launched a series of reforms including cutting capacity, managing zombie companies and calling for innovation among these companies. 

Overcapacity, poor corporate governance and low productivity had dragged down profits of China`s SOEs, which deteriorated in 2015. 

In 2016, China`s central SOEs cut 2,730 subsidiaries and saved 4.91 billion yuan ($713.4 million;652.1 million euros; ￡555.6 million) in management costs, according to the State-owned Assets Supervision and Administration Commission. 

Thanks in part to these efforts, central SOEs saw profits rise slightly. Growth last year picked up from a 5.6 percent decrease in 2015. 

In 2016, central SOEs made total profits of 1.23 trillion yuan, up 0.5 percent year-on-year, according to the SOE watchdog. 

This year, China has pledged to deepen SOE reform, promising measures such as introducing a mixed ownership system and more efforts to make SOEs leaner, healthier and perform better. 

China has 102 centrally administered SOEs, which manage the bulk of the country`s State assets. 

The improving figures of the SOEs contributed to the country`s broader economy, which has shown more signs of stabilizing since the second half of 2016, with indicators including factory prices and industrial profits seeing significant improvements.

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 in September 23-25, 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.

Investment from China helps give steel mill new life

Source: www.chinamining.org     Citation: China Daily Europe          Date: April 28, 2017

Hesteel Serbia employees discuss production techniques with a member of the Chinese management team. Fu Jing / China Daily

With higher wages and increased job security, workers at Serbian plant that at one time neared bankruptcy are now more confident and productive 

For 20 years, Svetlana Radosavljevic has monitored the manufacture of steel and iron from a glass-walled control room in an old production center at Zelezara Smederevo, Serbia`s biggest mill. 

For many years, the mill, less than a 60-minute drive from Belgrade, could only run one of its two production lines, and it lost about $10 million a month. Moreover, many of the 5,000 workers were unproductive. These factors resulted in a prolonged period of low productivity that almost forced the company into bankruptcy. 

Last year, the 105-year-old mill was given a new lease on life when Hesteel Group, from Hebei province, purchased it for 46 million euros ($49.6 million; ￡38.75).

Now, both production lines are running at full capacity at Hesteel Serbia, the mill`s new name, which will see production of 2 million metric tons this year, the maximum quota agreed to between the European Union and Serbia. The acquisition ended seven years of losses, and by the end of last year the mill was profitable again. 

The workers are now more confident because their jobs are secure and wages have risen by an average of 8 percent, compared with the pre-takeover level. 

"Now it is safer, production is higher, and I am more focused on my job because I don`t need to worry about becoming unemployed," Radosavljevic says. 

Her control room is about 50 meters from the end of a line that produces steel plate. During a visit in June, President Xi Jinping spoke with the workers and management in the control room, which helped to inject the confidence needed to make the most of the lifeline offered by the acquisition. 

In addition to the front line workers, even Serbia`s Prime Minister Aleksandar Vucic, who is also president-elect, is excited about the performance. 

Song Sihai, an executive board member of Hesteel Serbia who oversees management of the mill, describes his meeting with Vucic. "The prime minister and I discussed the revenue target for this year, which will be about $800 million, and he asked his assistant to calculate the amount it would contribute to the country`s economic output," he says. 

Sitting in his office, Song, an executive with the parent company, quotes Vucic`s conclusion, that the company`s revenues will account for more than 2 percent of GDP this year. 

"Surely, this will provide great help to Serbia`s economic development," he says.

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 in September 23-25, 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 urges upgrading energy consumption pattern

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

China`s top economic planner Tuesday called for implementation of a government plan to promote reform in energy production and consumption.

China`s total energy consumption will be capped at 6 billion metric tons of coal equivalent by 2030, according to a government plan for 2016 to 2030, issued by the National Development and Reform Commission (NDRC).

The plan is aimed at optimizing the energy mix and ensuring energy security, in the face of a new supply-demand pattern in the global market, said NDRC in an online statement.

By the end of 2030, non-fossil energy is expected to account for 20 percent of the total energy consumption, accompanied with a reduction of carbon dioxide (CO2) emission per unit of GDP by 60 percent to 65 percent compared with 2005, according to the government plan.

The plan also outlined the target of maintaining self-reliance of energy consumption beyond 80 percent by the end of 2020, in a bid to ensure China`s energy security.

In the statement, NDRC pledged strengthened supervision over local authorities for better implementation of the plan.

Advanced technology, sound market mechanism and strong legal support are all necessary in achieving the goal, according to the report.

China`s energy intensity, the amount of energy consumed per unit of GDP, decreased 3.8 percent year-on-year in the first quarter of 2017, according to the National Bureau of Statistics.

The decline was better than the government target of 3.4 percent in 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 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 will encourage coal miners to merge, restructure - state planner

Source: www.chinamining.org     Citation: Reuters      Date: April 26, 2017

Beijing will encourage coal companies to merge and restructure to increase efficiency in the industry and take measures to return thermal coal prices to a "reasonable" range, China`s economic planning agency said in a statement on Wednesday.

The comment by the state planner, the National Development and Reform Commission (NDRC), came after a meeting with coal mining firms on Tuesday as thermal coal prices continue to rally while utilities that consume the fuel lose money.

The NDRC issued a similar release on Tuesday following a gathering late last week with utilities

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.

Jordan welcomes China to boost investment in energy, infrastructure

Source: www.chinamining.org     Citation: Xinhua          Date: April 25, 2017

Jordan said on Monday the potential for Chinese companies to boost their investment in Jordan is extensive in various fields.

Addressing the Jordanian-Chinese Business Forum, Jordanian Minister of Trade and Industry, Yaroub Qudah, called on Chinese companies to benefit from the investment facilities and incentives provided in Jordan, especially in solar and wind energy, oil shale, pharmaceuticals and fertilizers sectors.

During the forum, held by Jordan`s Chamber of Commerce, the minister said several investment opportunities exist in Jordan in the fields of energy and infrastructure plus tourism.

The minister added that Chinese companies investing in Jordan will benefit from a strategic geographic location due to Jordan`s proximity to Syria, thus Chinese companies can play a key role in reconstructing Syria.

Stressing upon the strategic ties between Jordan and China in several areas, the minister said China is Jordan`s second largest trade partner and that the trade exchange between both sides exceeded 3 billion U.S. dollars in 2016.

Qudan said Jordan is a gateway to Middle East markets and the country is a signatory to several free trade agreements with various countries such as Canada and the U.S.

Jordanian Chamber of Commerce President Nael Kabariti said diverse investment opportunities exist in Jordan, a country which enjoys both political and economic stability and security.

He added that the potential was substantial for increased partnerships between Jordan and China as well as both countries` private sectors.

The Chinese ambassador to Jordan, Pan Weifang, stressed the key strategic partnership between China and Jordan during his speech, noting that Chinese companies are involved in implementing mega projects in Jordan.

Furthermore, Chairman of China Council to Promote International Trade, Jiang Zengwei, heading a Chinese business delegation of over 20 entrepreneurs to Jordan, voiced China`s readiness to boost collaboration with Jordan and to exchange official delegations in order to explore further cooperation opportunities.

The two sides signed a memorandum of understanding during the forum in order to effectively establish the Silk Road Business Council and promote joint investment between both countries and further develop their trade relations.

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.