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Submersible taps vast mineral deposits in South China Sea
Source: www.chinamining.org Citation: China Daily Date: Jul.05, 2013

                                      A robotic arm of Jiaolong readies to take a sample of the iron-manganese deposits on
                                              Wednesday that the deep-sea manned submersible first discovered during its ongoing
                                              experimental voyage in the South China Sea.(Photo: Xinhua/China Daily

Jiaolong, the manned deep-sea submersible, is helping the country tap a treasure of iron-manganese deposits that were first discovered in the South China Sea on Wednesday.

Tang Jialing, an oceanaut on the submersible, told Xinhua News Agency that although the exact area of the deposits was still unknown, he was sure that it was large.

Tongji University Professor Zhou Huaiyang, who was on board Jiaolong`s support ship Xiangyanghong 09 on Wednesday, said scientists will conduct experiments to determine the age of the deposits.

"Since one of the samples was broken by the sub`s robotic arm, a round core inside could be identified as volcanic lava. The materials covering the core are iron and manganese oxides, which need tens of thousands of years to form," he said.

Li Xinzheng, a biologist who was on board the Jiaolong, told Science and Technology Daily that besides the excitement he felt when the large-scale deposits were discovered, he was also struck by the size of the deep-sea world and its expansive population of strange species, most of which he had never seen before.

"I will never forget my experience in the deep sea," Li said.

Jiaolong will carry out two more dives in the area to continue research and survey the seabed. The large underwater mountain where the deposits were discovered was named the "Jiaolong Seamount" by scientists on board the submersible, Xinhua reported.

Zhou said he hopes more rock samples will be collected from the seamount during the coming two dives.

Jiaolong completed four deep-sea dives from June 17 to 20, collecting rare animal specimens and mineral samples.

Jin Jiancai, secretary-general of the China Ocean Mineral Resources Research and Development Association, said Xiangyanghong 09 is expected to sail for 113 days and complete three dive missions in its first experimental voyage, which began on June 10.

The first mission, set to last about 43 days, is in the South China Sea, where Jiaolong will test its performance and scientists will study the formation and development of the waters and record its influence on China`s climate.

Jin added, the ship will then sail to two mining areas in the Pacific Ocean for a geological survey, collecting biological and mineral samples and preparing for future sea mining projects.

The mission marks the start of a five-year trial period for the Jiaolong before it starts regular operations, Xinhua reported.

Since 2001, China signed several contracts with the International Seabed Authority for mineral prospecting and exploration in the western Pacific Ocean and the Southwest India Ridge.

Jin told China Daily in a previous interview that the refined metals from the deposits will help the country meet the increasing demand for mineral resources during its rapid economic 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 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: www.chinaminingtj.org.

                                           China to remove 40% export tax on metallurgical coke from Jan 1, 2013 
                                                                              Source: www.chinamining.org  Citation: Platts  Date: Dec.18, 2012 China will remove the 40% duty on the export of metallurgical coke from January 1, 2013, an announcement posted on the finance ministry`s website showed Monday.

Coal-based coke and semi-coke, used in steelmaking, has been removed from a list of goods attracting export duty in 2013, according to a statement by the Customs Tariff Commission of the State Council dated December 10.

Market participants said China`s coke export quotas have also been removed at the same time, although the Ministry of Finance couldn`t be reached for comment. The Ministry of Commerce, which is also involved in setting trade policy, declined to comment on the matter.

COKE RETHINK

Two recent buyers of coke via tenders said Monday they were considering whether they should renegotiate contracts as there was a possibility of cheaper offers being made after the announcement.

"Then what would happen to my spot deals?," said a Southeast Asian end-user who bought coke recently.

Coke buyers would now seek lower prices for coke as a result of the news, said another source at an Indian mill, adding that he would demand a Rupees 800-900/mt ($14-16/mt) drop if he were to buy from the spot market today.

Domestic coke prices in India would also face downward pressure from more competitively priced imports, he added.

Sources at Indian coke producers expressed anxiety after hearing about the confirmation of the removal of Chinese coke tax.

"I don`t know and I can`t understand which direction it will go," one of them said. "Domestic coke prices are already under tremendous pressure but I don`t know what it will become," he said, conceding that domestic coke prices would be negatively impacted.

"There will be pricing pressure on Japanese and Colombian coke producers," he said. "Russian producers will also have a tough time now."

Indian cokemakers "will have to give a good price rebate to remain competitive" in view of potentially cheaper imported material, he added.

A source at a Russian coke producer said he expected prices of seaborne coke to drop to $260-270/mt CFR India from current $288/mt levels as a result of the duty removal.

"Tough competition will cause a drop in spot prices," he said. "There is too much coke in the market."

SOME SKEPTICAL

Some were less sure that the policy would directly translate into China`s return as a major coke exporter.

A Beijing-based trader said the impact on both coke and coking coal markets would be limited.

"Cost wise, China`s coke is no longer competitive," he said, citing raw materials, labor and governmental taxes. Chinese cokemakers may not necessarily be able to undercut seaborne producers, he added.

A Polish trader also didn`t think much of the policy`s impact.

"I don`t think it will cause a revolution," he said. "Prices in China for coke are quite high now, so even if you reduce the taxes, they`re still quite expensive."

A coke purchasing manager at a Chinese steelmaker said he didn`t expect any significant immediate impact.

"The export volume would still be small compared with total output in China," he said. "There might be some impact on sentiment, but this shouldn`t actually affect China`s domestic market."

China had been the world`s biggest coke exporter until the introduction of the duty in 2008, which caused volumes to plunge. The country exported 15 million mt of coke in 2007, out of the 329 million mt it produced.

In February this year, China agreed to act upon recommendations made by the World Trade Organization`s dispute settlement body, and said it would change policies to remove barriers to export coke, including taxes and quotas, by the end of the year.

Platts started assessing coke prices weekly on FOB North China and DDP North China bases since July 12 this year. The assessments, representing material with 62% CSR, were $420/mt FOB Tianjin and Yuan 1,730/mt ($277.39/mt) delivered to North China, respectively, as of Thursday.

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: www.chinaminingtj.org.  

                                                                         Nation eyes Africa mining       
                                                              Source: www.chinamining.org  Citation: Global Times  Date: Jun.21, 2012 China`s investments in the African mining sector have increased tenfold since 2011, and the country is pouring more money into the continent while moving away from traditional markets such as Australia due to cost concerns, the China Mining Association said yesterday.

Chinese investment in Africa`s mining sector reached $15.6 billion in 2011, ten times larger than that in the previous year, data released by the trade body yesterday showed.

"The country`s rapid increase of investment in Africa was mainly driven by several large successful projects undertaken by Chinese companies in the continent last year," Yang Qiuling, a spokesperson of the association, told the Global Times yesterday.

Seven such investments in the mining sector in 2011, with even the smallest deal exceeding $1 billion, reached a total of $14.7 billion, accounting for 94 percent of China`s investment in mining in Africa last year, she said.

Meanwhile, China`s mining investment in Australia dropped dramatically to $1.3 billion in 2011, a 70 percent drop from the previous year, figures from the association showed.

In the first half of the year, the country`s total mining investment in Australia was only $140 million, according to the figures.

"The change of Australia`s mining tax policy has made it more expensive to invest in the country," Zheng Jiaxin, chief analyst at Beijing-based ATKEPP International Consulting, told the Global Times.

In March, Australia`s parliament passed laws for a new 30 percent tax on iron ore and coal mine profits.

"Compared to traditional markets such as Australia where it is getting increasingly difficult to get approval, Africa has a lower access threshold," Zheng said.

"Chinese firms now tend to form a consortium to jointly hold shares in mining companies in the emerging mining markets instead of holding controlling stakes as they did in the traditional markets," he noted.

"In this way, it makes it easier to be accepted by the recipient countries and regions such as Africa," he said.

In March, the National Development and Reform Commission approved Aluminum Corporation of China to form a consortium with four other Chinese companies to jointly develop Simandou iron ore mine in Guinea, Africa with Anglo-Australian miner Rio Tinto.

Chalco will hold a 47 percent stake in the joint venture with a total investment of $1.35 billion.

"Transportation issues and labor disputes are big concerns for investment in Africa," Yuan Li, a spokesman with Aluminum Corporation of China, parent of Chalco, told the Global Times yesterday.

"The joint venture makes it easier to share the risks and maximize efficiency," Yuan said.

With China`s growing presence in Africa, labor disputes and threats to Chinese workers` safety are on the rise.

In January, a total of 29 Chinese workers of Sinohydro Group Ltd were taken hostage by rebels in Sudan where the company had a $63 million road project.

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 2012 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 3-6, 2012. We invite you to join the event and to celebrate the 14th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2012, please visit: www.chinaminingtj.org.  

China seeks to diversify iron ore sources, eyes overseas projects
Source: www.chinamining.org Citation: Platts Date: May 31, 2013

China wants to "diversify" its iron ore supply sources by investing in its own resources and mining operations overseas, Li Xinchuang, president of the China Metallurgical Industrial Planning and Research Institute, or MPI, said on Thursday.

MPI was founded in 1972 as a national consulting body engaged in the development of and planning for China`s metallurgical industry, according to its website. It is affiliated to state-owned Assets Supervision and Administration Commission of the State Council or cabinet.

So far, China has had limited success in developing overseas iron ore resources. "There have only been two projects of joint venture and acquisition," Xinchuang said at the Platts Steel Raw Materials Asia conference in Singapore. He did not, however, name them.

"We want to develop our own iron ore mines overseas with Chinese mining companies and diversify the supply," he said, adding this would be "good for the global health of the steel industry" as well as China`s own.

The target areas for overseas development were primarily Africa and South America, and the latter would not be restricted to Brazil, he said, though he did not elaborate on which countries China would look at. In Africa, China is eyeing Guinea, Sierra Leone and Liberia for iron ore resource investments, he added.

Diversifying its sources of iron ore supplies was necessary because "China will be the global center of steel supply and demand for a long time -- at least 20 years -- and India will be 20 years later," Xinchuang said. He pointed out that China had abundant iron ore reserves of its own, estimated at 74 billion mt, although only a small proportion of it -- 1.6 billion mt -- had ferrous content of 62%. Most of the ore had a ferrous content of about 30%.

Asked about the likely success of developing domestic iron ore resources in a low-priced, sub-$100/mt environment, which some analysts are predicting as a possibility, Xinchuang said there was potential for low-cost production, but conceded that several domestic mines could not operate if iron ore prices fall below $100/mt.

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 15^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2013, please visit: www.chinaminingtj.org.

China Copper Imports Drop to 22-Month Low as Export Slump
Source: www.chinamining.org Citation: Bloomberg Date: May 22, 2013

Imports of refined copper by China, the biggest user, declined in April to the lowest level since June 2011, while exports fell for the first time in eight months.

Inbound shipments were 183,023 metric tons last month, data from the General Administration of Customs showed today. That compared with 218,823 tons in March and 272,903 tons a year ago, according to data compiled by Bloomberg. Exports tumbled 52 percent to 29,072 tons from 60,642 tons a month earlier, the data showed.

The drop in arrivals has helped draw down inventories tallied by the Shanghai Futures Exchange, which were at the lowest level in seven months last week. Imports may find support in coming months as arbitrage trade by buying the metal in London and selling in Shanghai has become more profitable, while exports may be curbed for the same reason.

"In a relatively normal liquidity environment, the arbitrage ratio is still the main factor in deciding imports and exports," Liang Lijuan, an analyst at Cofco Futures Co., said by phone from Beijing. "I expect imports to gain in coming months, as exports may be curbed."

Metal for delivery in September on the SHFE rose 1.7 percent to close at 53,420 yuan ($8,713) a ton, $43 higher than the three-month contract on the London Metal Exchange at $7,410 a ton, including a 17 percent value-added tax.

The pick-up in copper demand in the second quarter may turn out to be little more than an opportunistic buying spree by under-stocked fabricators in China and won`t last into the summer, Standard Bank Plc said in its monthly research report on base metals on May 17.

Copper-concentrate imports by China surged to 842,838 tons last month, according to customs. That compared with 777,838 tons in March and 474,903 tons a year earlier. Total arrivals in the first four months this year jumped 37 percent to 3.06 million tons, the data showed.

Scrap-copper imports fell 9 percent from a year ago to 336,634 tons in April, and inbound shipments in the January-to-April period dropped 4.7 percent to 1.37 million tons. Imports from the U.S. declined 13 percent in April to 72,413 tons, according to today`s data.

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 15^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2013, please visit: www.chinaminingtj.org.

Steel industry still suffering
Source: www.chinamining.org Citation: Global Times Date: May.06, 2013

Despite expectations that China`s steel demand would rebound this year along with massive infrastructure investment, insiders told the Global Times Sunday that many steel makers are still having a difficult time and are expected to lower factory prices for major steel products.

"Although the country has a lot of ongoing infrastructure construction projects, market pressure has forced us to cut steel prices," Deng Qilin, CEO of State-owned Wuhan Iron and Steel Group Corporation, told the Global Times Sunday.

Deng`s company is not alone in facing difficulties. Other large steel firms, including Baoshan Iron & Steel Co, Shougang Group and Jiangsu Shagang Group, have also reduced their steel prices, so as to remain competitive in the market.

The cut in prices came as something of a surprise, an industry insider who wished to remain anonymous told the Global Times Sunday.

Earlier in the year many manufacturers had "very positive expectations that the sector would see increasing earnings, and they were planning to raise prices," the insider said.

This was mainly because late last year the National Development and Reform Commission, the country`s top economic planner, approved a new round of economic stimulus plans, including urban railway projects worth as much as 650 billion yuan ($105 billion) for 2013.

Earlier this year, market analysts said they expected a rebound in demand for steel, which led some companies to increase their inventories.

The total stockpiles of five major steel products in 22 cities reached a record of 15.57 million tons in March, an increase of 22.9 percent month-on-month, according to the China Iron and Steel Association (CISA).

"But the expectations of rising demand turned out to be false," said the insider, noting that it was poor sales performance that triggered producers` decisions to cut prices.

Wang Guoqing, a senior analyst at Beijing Lange Steel Information Research Center, echoed this sentiment.

Wang told the Global Times Sunday that when the country changed to its new leadership in March, local governments also changed their leaders, and new administrations are generally inclined to be more cautious about infrastructure projects amid rising debts.

"Therefore, some railway projects were delayed, which directly impacted steel demand," said Wang.

Also, in the past, construction companies bought large quantities of steel as they were concerned about possible price hikes.

But now, the steel industry`s overcapacity problem is well-known and price rises are less likely, so many construction firms buy smaller amounts to cover just their current needs, Wang said.

According to a report released by the CISA at the end of last month, in March, 45.3 percent of its 272 member companies were in the red.

This showed that the industry is still "weak" because of fiercer competition amid industrial overcapacity, said Zhu Jimin, the CISA`s vice chairman.

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 15^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2013, please visit: www.chinaminingtj.org.

Int`l demand rises for China rare earths in Q1
Source: www.chinamining.org Citation: China Daily Date: Apr.23, 2013

                                               Rare earths at the port of Lianyungang, Jiangsu province, ready for export in 2009. Rare earth
                                       exports in China rose 55 percent from February to 1,718 metric tons in March. Woo He / for China Daily

Global demand for rare earth metals from China climbed in the first quarter due to falling prices despite domestic producers and processors reporting losses.

Statistics from the General Administration of Customs suggest that rare earth exports rose 55 percent in March from February to 1,718 metric tons.

Export volume in the first three months grew 47.3 percent to 3,916 tons. But in the same period, export value dropped 71 percent to $91.9 million.

Deputy Secretary-General of the China Rare Earths Industry Association Chen Zhanheng said the growth in exports volume stems from a price decline in 2011, stimulating overseas buyers who had used up their reserves. Chen said there are no signs of a quick rebound from falling demand at home and abroad, but he believes the market will grow as production is being regulated and prices continue to fall.

Chen Jiazuo, an analyst from the China Nonferrous Metals Information Network, said it only took two years for the industry to deteriorate from its peak, yet current prices are still higher than the lowest point in the past 10 years.

Only half of the export quota in 2012 was used due to the price surge in 2011, which deterred buyers. The value of exports in 2012 fell 66.1 percent year-on-year to $906 million.

Rare earths, which comprise 17 metallic elements, are used in many technological products, including missile systems.

China supplies more than 90 percent of the world`s rare earths, and has nearly one-third of the known global reserves.

In the first quarter, Baotou Steel Rare-Earth (Group) Hi-Tech, the country`s largest rare earth producer, reported revenue of 2.29 billion yuan ($366 million), down 35.7 percent from a year ago. Its net profit fell 79.7 percent to 245 million yuan. Its first quarter report said prices for its main products have dropped more than 50 percent.

Last year, the firm saw a sharp drop in net profit and revenue due to falling demand and a slowing economy.

Net profit dropped 56 percent to 1.51 billion yuan year-on-year, while revenue fell 19 percent to 9.24 billion yuan as a result of low demand in the rare earth market and a price drop.

Baotou Steel resumed production on Feb 23 after a four-month halt due to the price slump. Another producer, Rising Nonferrous Metals Co Ltd, saw a first quarter loss of 29 million yuan due to a drop in operating revenue and gross profit.

Last month, China Minmetals Rare Earth Co Ltd announced a 47 percent drop in revenue, from 7.6 billion yuan in 2011, with net profit falling 74 percent in 2011.

Many downstream enterprises are suffering due to the price surge in 2011, with some closing their operations, Chen said. Rising prices have forced many manufacturers to switch to other materials or seek new markets for rare earths, 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 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 15^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2013, please visit: www.chinaminingtj.org.

                                                        Global miners keen to tap Chinese market  
                                                              Source: www.chinamining.org  Citation: China Daily  Date: Apr.08, 2013

Global producers said they will continue to invest in China because the country`s urbanization and industrialization will continue to support iron ore demand. Fortescue Metals Group Ltd, Australia`s third-biggest iron ore producer, will invest $10 billion to expand its iron ore production capacity to meet the growing demand mainly from China, said the company`s CEO Neville Power on Sunday during the Boao Forum for Asia Annual Conference held in South China`s Hainan province. He said FMG will have 155 million metric tons of production capacity by the end of 2013 and up to 90 percent of the output will supply the Chinese market.

By then, the company`s iron ore supply will account for about 20 percent of China`s total iron ore imports. "President Xi Jinping`s remarks during the Boao Forum show that the Chinese government will continue to make efforts on economic development and improving people`s living standards and we are honored to participate in the process as a supplier for such an important resource," Power said. China`s GDP growth is set to stay at 7.5 percent to 8 percent, which means the country`s steel output will increase at 3 to 4 percent and it will create demand for iron ore, he said. Sam Walsh, CEO of the world`s third-largest miner Rio Tinto, shared similar views with Power. During the China Development Forum last month, Walsh told China Daily that China`s "enormous" economic base will create significant demand and Rio Tinto will continue to invest in China. At present, a third of Rio Tinto`s revenue is from the Chinese market. China is expected to produce 746 million tons of crude steel in 2013, 30 million tons more than last year, which will result in new iron ore demand of 50 million tons, according to figures from the National Development and Reform Commission, the country`s top economic planner. Dalian Commodity Exchange, one of the three major commodity exchanges in the country, is preparing to launch iron ore futures, hoping it can give Chinese steel companies a bigger say in iron ore prices in the international market. FMG`s iron ore business has been highly dependent on the Chinese market since it exported the first cargo of iron ore to China in 2008. So far, it has supplied more than 200 million metric tons of iron ore in total to China. In 2012, the company supplied iron ore to 52 Chinese steel mills with a closer cooperation relationship. Valin Group Co in Hunan province, one of China`s large steel companies, has become a major shareholder of FMG. "The global iron ore market is monopolized by giant producers and FMG is working on breaking the monopoly by providing more choices of high-quality iron ore to Chinese customers," said Liu Xiaodong, marketing director of the company. 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: www.chinaminingtj.org.