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Brazilian mining giant Vale signs MoUs with Chinese firms

Source: www.chinamining.org   Citation: Xinhua   Date: May 20, 2015

Brazil`s mining giant Vale, the world`s leading iron ore producer, signed memorandums of understanding (MoUs) Tuesday with the Industrial and Commercial Bank of China (ICBC), the Export-Import Bank of China (China EximBank) and two leading Chinese shipping firms.

According to Vale, the deal with ICBC is for cooperation on global financing arrangements.

Under the terms of the memorandum, ICBC will provide Vale with up to $4 billion in "syndicated loans, bilateral loans, export credit, trade finance, among other potential financing arrangements and services."

The document was signed by Murilo Ferreira, president and CEO of Vale, and Yi Huiman, president of the ICBC, during Chinese Premier Li Keqiang`s official visit to Brazil. It takes effect immediately for a three-year period.

In addition, Vale signed two three-party MoUs for potential financing and loans with China EximBank and shipping giants China Ocean Shipping Company (Cosco) and China Merchants Group.

Vale said both memorandums call for financing cooperation on iron ore shipping and "define the basis for future cooperation between Vale and its Chinese partners."

"According to each memorandum, China EximBank will consider providing a loan of up to $1.2 billion to both Cosco and China Merchants respectively to facilitate the two shipping companies` provision of iron ore shipping services to Vale," the mining company said.

Brazil`s President Dilma Rousseff and Premier Li Keqiang presided over the signing of the agreements, part of many business deals struck between Brazilian and Chinese companies during Li`s visit.

Rousseff and the Chinese premier also announced the Joint Action Plan for the 2015-2021 period, which is expected to expand Brazil-China ties.

China is Brazil`s leading trade partner, with their total trade volume amounting to nearly $87 billion in 2014.

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 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: www.chinaminingtj.org.

China`s gold consumption up 1.14% in Q1 to 326.68 tons

Source: www.chinamining.org   Citation: Xinhua   Date: May 18, 2015

A subsidiary of China`s oil and gas giant signed on Sunday a contract worth 330 million U.S. dollars with an onshore petroleum firm in Abu Dhabi, the United Arab Emirate (UAE), for a development project at the UAE`s southern Mender oilfield.

The joint project between China Petroleum Engineering and Construction Corporation (CPECC) and Abu Dhabi Company for Onshore Oil Operations (ADCO) will help boost ADCO`s daily crude production from 1.4 million barrels to 1.8 million by 2017.

Hou Haojie, general manager of CPECC, said the Mender project, which follows CPECC`s successful work on programs to develop the emirate`s crude pipeline and Asab oilfield, has demonstrated his company`s growing market reputation and strong global competitiveness.

He also hoped that the two companies could work closely on the Mender project, and expand their cooperation in the future.

The Mender oilfield sits in a desert area more than 300 km south of Abu Dubai, one of the country`s seven emirates, and also capital of the UAE. It has a production capacity of about 20,000 barrels on a daily basis.

According to the contract, the Chinese company will be responsible to build oil gathering stations, pipelines, power transmission lines, as well as sewage systems.

The CPECC is affiliated with China National Petroleum Corporation (CNPC), China`s largest oil and gas producer and supplier, and has a history of working its counterparts in the UAE.

Back in late 2008, it won a contract worth 3.29 billion dollars in a partnership with UAE`s state-run international petroleum investment company on the Abu Dhabi crude oil pipeline project, also known as the Habshan-Fujairah pipeline.

The project, which became fully operational in July 2012, aims to secure supply of crude oil, and reduce oil transportation through the Straits of Hormuz, one of the world`s most strategic waterways for global crude trade.

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 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: www.chinaminingtj.org.

China`s crude oil imports up 7.5% in Q1

Source: www.chinamining.org   Citation: China Knowledge   Date: May 14, 2015

China, the world`s second largest oil consumer after the U.S., imported 80.34 million tons of crude oil in the first quarter of this year, 7.50% more than in the same period of last year, according to the latest figures from China`s General Administration of Customs.

The import value of crude oil for the three-month period declined 42.80% from a year earlier to RMB 206.09 billion.

From Jan to Mar, the country saw its imports of refined oil reach 7.9 million tons, reflecting a decrease of 7.50% year on year. The import value of refined oil went down 43.30% from a year earlier to RMB 23.78 billion in the three-month period.

In the month of Mar, the country imported a total of 26.81 million tons of crude oil and the import value for the month reached RMB 66.66 billion.

Meanwhile, China imported 2.87 million tons of refined oil last month with import value of RMB 8.96 billion.

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 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: www.chinaminingtj.org.

Australia`s iron ore shipments to China down 4 pct in April

Source: www.chinamining.org   Citation: Reuters   Date: May 05, 2015

Australia`s iron ore exports to China from Port Hedland, the world`s biggest terminal for shipments of the raw material, fell 4 percent in April from March, port figures showed, as demand from China`s steel mills dwindled amid a construction slowdown.

Exports of the steelmaking ingredient to Australia`s biggest trading partner totalled 30.1 million tonnes, down from 31.2 million tonnes the previous month, according to the Pilbara Ports Authority.

The monthly total, however, represents an increase of just 4 percent versus the same month a year ago, when it jumped 50 percent amid what was still booming demand for iron ore.

But China`s appetite for iron ore has slowed, sending the commodity`s price to record lows in April. A private business survey published on Monday showed China`s factories suffered their fastest drop in activity in a year in April as new orders shrank.

Port Hedland, which handles about a fifth of the world`s seaborne iron ore trade, is used by BHP Billiton (NYSE: BBL - news) , Fortescue Metals Group and Atlas Iron to ship iron ore cargoes.

Iron ore shipments in April to the next biggest destination country, South Korea, rose 27 percent to 2.8 million tonnes, but exports to Japan fell by 40 percent to 1.2 million tonnes from March levels, the port data showed.

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 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: www.chinaminingtj.org.

China`s 10 nonferrous metal output up 7.7% in Q1 to 12.17 mln tons

Source: www.chinamining.org   Citation: China Knowledge   Date: May 04, 2015

The combined output of the ten nonferrous metals rose 7.7% year on year to 12.17 million tons in the first quarter of this year, according to the latest statistics released by the National Development and Reform Commission.

The output of aluminum electrolytic rose 7.4% year on year to 7.51 million tons in the three-month period. The output of copper and alumina oxide see a growth of 14.4% and 15.3% to 1.85 million tons and 13.97 million tons, respectively.

The output of lead dropped 6.7% year on year to 0.99 million tons in the period, and the output of zinc went up 14.4% from a year earlier to 1.46 million tons in the first three months.

In Mar 2015, the average prices of copper and lead futures on the Shanghai Futures Exchange stood at RMB 42,097 and RMB 12,334 per ton, up 2.8% and down 1.3% from Feb 2015, respectively?

In the first quarter of this year, China`s nonferrous industry realized RMB 35.4 billion in profit, 8.8% higher than in the same period of 2014.

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 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: www.chinaminingtj.org.

China`s gold consumption up 1.14% in Q1 to 326.68 tons

Source: www.chinamining.org   Citation: China Knowledge   Date: April 29, 2015

China saw its gold consumption grow 1.14% year on year to 326.68 metric tons in the first quarter of this year, according to a report released by the China Gold Association.

According to the statistic, about 226.23 metric tons of gold were made into jewelry in the first three months and 73.37 metric tons were used for gold bars and gold coins.

From Jan to Mar 2015, the industrial sector consumed 27.08 metric tons of gold.

China saw its gold output increase by 14.72% year on year to 110.7 metric tons in the first quarter of this year, including 88.27 metric tons made by gold mines.

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 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: www.chinaminingtj.org.

China iron ore futures hit upward daily limit as mills restock

Source: www.chinamining.org   Citation: Reuters   Date: April 27, 2015

Chinese iron ore futures rose for a third straight day to hit their upward daily limit on Friday and were on track for a second weekly gain as mills in the world`s top buyer stepped up buying.

Benchmark iron ore futures for September settlement on the Dalian Commodity Exchange surged 4 percent to 417.5 yuan ($67) before trading at 416.5 yuan at 0305 GMT.

"I think the market has been overbearish earlier. Some Chinese steel mills need to pick up purchases of the raw material as their inventories are quite low," said Xia Junyan, an analyst with Everbright Futures in Shanghai.

Iron ore inventories at main Chinese ports dropped 600,000 tonnes on a week earlier to 93.61 million tonnes as of Friday, data from industry consultancy Umetal.com said.

However, some analysts doubt the rally will be sustainable as top miners are still expanding production and steel demand in China remains sluggish.

Some speculators who bet on falling iron ore prices might be forced to cover their short positions for the May contract , which jumped 3 percent on Friday. And the rally helped lift the benchmark contract, analysts said.

Separately, the most-traded rebar futures on the Shanghai Futures Exchange hit a session high of 2,388 yuan, its highest since April 2, as some investors bet on improving demand. The price was up 2.5 percent to 2,379 yuan at 0305 GMT.

"Steel mills are ramping up production by taking advantage of the previous slump in iron ore prices, but steel demand hasn`t recovered much, which will pressure the market," said Xu Huimin, an analyst with Huatai Greatwall Futures in Shanghai.

Iron ore for immediate delivery to China`s Tianjin port jumped 1.7 percent to $53.80 a tonne on Thursday, its highest since March 27, according to The Steel Index.

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 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: www.chinaminingtj.org.

China`s March ferroalloy exports fall 25% on year to 30,000 mt

Source: www.chinamining.org   Citation: Platts   Date: April 22, 2015

China exported 30,000 mt of ferroalloys in March, down 25% year on year, according to latest statistics published by the General Administration of Customs Tuesday.

March exports also fell 25% from February.

The report did not provide a breakdown of the various ferroalloys. Some of the commonly exported ferroalloys include ferrosilicon, silicomanganese, ferrochrome, ferromolybdenum and ferrotungsten.

Ferroalloys are used in the production of steels and alloys.

Over January-March, exports totaled 100,000 mt, down 30.1% year on year.

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 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: www.chinaminingtj.org.