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China Gold Looks at Targets in Hunt for Mining Deal

Source: www.chinamining.org  Citation: Bloomberg  Date: September 17, 2014

China Gold International Resources Corp. (CGG), a gold and copper producer with mines in Inner Mongolia and Tibet, will probably make an acquisition by the end of next year, according to one of its senior executives.
    
The Vancouver-based company, whose biggest shareholder is state-owned China National Gold Group Corp., is evaluating four potential targets that meet its criteria on size and capital requirements, Executive Vice President Jerry Xie said.
    
It`s focused on gold and copper assets and may spend as much as about $1 billion, although the total value of any deal could be higher if the company brings in a partner, Xie said. While the assets China Gold is evaluating are scattered around the world, the sellers are all North American, he said.
    
"Personally, I can say next year something will happen," Xie said yesterday in an interview in Denver. "For now we`re just doing the due diligence."
    
China Gold is looking for mines already in production or projects whose development is very advanced, preferably in politically stable jurisdictions like Canada, he said. It`s also interested in joint ventures and partnerships, especially with larger and more experienced producers, Xie said.
    
The company is targeting annual output of 500,000 ounces of gold and 330 million pounds of copper. Part of that growth will come from increasing output at its CSH gold mine in China`s Inner Mongolia and its Jiama mine in central Tibet. The company plans to make up the rest through an acquisition.
    
China National Gold owns 39 percent of China Gold. Shares of the latter closed yesterday at C$3.18 in Toronto, giving the company a market capitalization of C$1.26 billion ($1.14 billion.) The stock has gained 18 percent this 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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2014. We invite you to join the event and to celebrate the 16^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2014, please visit: www.chinaminingtj.org.

China Shenhua Energy`s commercial coal output up 3% in Aug

Source: www.chinamining.org  Citation: China Knowledge  Date: September 15, 2014

China Shenhua Energy Co Ltd, the country`s largest coal producer, has said that its commercial coal output increased 3% year on year to 27.2 million tons in Aug 2014.
    
Last month, the company sold 53.4 million tons of coal, 35.9% more than in the same month of 2013.
    
The company`s coal imports grew 16.7% year on year to 0.7 million tons last month.
    
China Shenhua Energy`s electricity sales amounted to 16.89 Terawatt hours in Aug, down 20.1% year on year.
    
In the first eight months of this year, the company`s output of commercial coal amounted to 209.1 million tons, down 0.8% from a year earlier. The coal firm sold a total of 303.4 million tons of coal in the eight-month period, reflecting a decrease of 3.7% 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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2014. We invite you to join the event and to celebrate the 16^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2014, please visit: www.chinaminingtj.org.

China`s natural gas demand expected to drop

Source: www.chinamining.org  Citation: Reuters  Date: September 16, 2014

China`s gas demand growth is expected to ease to its slowest in three years in 2014 and dip again next year, as a slowing economy and an ill-timed hike in prices keep gas demand at levels well below bullish forecasts.
    
The slowdown indicates demand will struggle to meet levels forecast by the International Energy Agency (IEA), which said in June that China is entering a golden age of gas, and could make life hard for new gas projects hoping for spot sales to China.
    
PetroChina, one of the country`s two top gas importers, has cut shipments of spot liquefied natural gas (LNG), an industry source said, and sees demand growth under pressure for at least three years.
    
China accounted for half of the world`s additional gas usage last year and the scaling back of spot LNG purchases comes as at least four Australian LNG projects are due to start operations in 2014 and 2015.
    
"If we don`t need to import, we won`t. As long as our LNG terminals have enough feedstock, we won`t need much spot supply," said a source with direct knowledge of PetroChina`s gas operations.
    
The IEA expects China`s gas consumption to rise 90 percent within the next five years to reach 315 billion cubic metres (bcm) by 2019, offsetting slower growth in Europe and elsewhere. That would imply an annual growth rate of 17.5 percent.
    
However, China`s top oil and natural gas producer, China National Petroleum Corp, sees apparent natural gas consumption climbing just 9.5 percent, down 4.7 percentage points from 2013.
    
PetroChina`s spokesman Mao Zefeng declined to make comments on the company`s spot LNG business but he said at a conference last week that China`s gas consumption growth would ease further in 2015.
    
"In the short term, the gas price reform and slowing economy will affect demand ... but we believe demand growth will be restored three to five years later," Mao 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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2014. We invite you to join the event and to celebrate the 16^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2014, please visit: www.chinaminingtj.org.

China alumina price rises to Yuan 2,700/mt despite lower metal prices

Source: www.chinamining.org  Citation: Platts  Date: September 16, 2014

The ex-works Henan alumina assessment rose Yuan 60 from Friday to Yuan 2,700/mt ($439/mt) on Monday for 70:30 cash and credit payment terms on limited spot availability and in anticipation of seasonal restocking in the fourth quarter despite lower domestic metal prices, sources said.

The current price was also up Yuan 100/mt from a week earlier, and up Yuan 230/mt month on month.   

Offers in Henan were heard between Yuan 2,700-2,730/mt cash to partial credit terms, with buyers` ideas pegged at Yuan 2,650-2,680/mt cash.  

The front-month September aluminum contract on the Shanghai Futures Exchange closed at Yuan 14,385/mt Monday, down from Yuan 14,875/mt last Monday.

"Spot stocks are very limited, and those who have stocks are not rushing to sell, preferring to hold off and wait, as they still expect alumina to firm further in the near term," a Henan refiner said.   

A Henan smelter agreed: "No one wants to sell as demand is expected to be strong in Q4...we also plan to restock, but we want to see how metal prices move first."   

Spot alumina buying is also expected to start picking up this week ahead of the extended National Day holidays October 1-7, sources said.   

"Alumina prices rallied after the last extended holidays for the Mid-Autumn Festival [September 6-8], and people are now worried the same will happen after the National Day holidays, so some will want to stock up before that," a South China smelter source said.   

On Monday, spot trade volumes were also dampened by buyers shying due to lower metal prices.

"Everyone is just eying metal now...refiners are still hoping for higher prices, but if metal continues to fall, then alumina will follow, so buyers are waiting," a Shandong trader said.   

Meanwhile, spot alumina offers in Shanxi were pegged at Yuan 2,680-2,700/mt cash on Monday, steady from Friday.   

Offers in Guangxi were also heard mostly unchanged at Yuan 2,480-2,500/mt cash.

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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2014. We invite you to join the event and to celebrate the 16^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2014, please visit: www.chinaminingtj.org.

Russia`s Rusal considers joint project with China`s Chalco

Source: www.chinamining.org  Citation: Reuters  Date: September 10, 2014

Russia`s United Company Rusal Plc is exploring a joint project with China`s top aluminium producer in Russia`s Eastern Siberia, its deputy CEO told Reuters on Wednesday, after the Russian aluminium giant shelved its original plans in March.
    
The possible tie-up with Aluminum Corp of China Ltd (Chalco) will be based on Eastern Siberia`s rich mineral deposits, its hydropower potential and its closeness to China, said Oleg Mukhamedshin on the sidelines of a meeting of the World Economic Forum in China`s northern city of Tianjin.
    
"We`re considering a potential joint project in Eastern Siberia in Russia," Mukhamedshin said. "There`s still quite visible stock in the market so it`s not a project of the very short term, but in the medium term as the market will be in deficit, just to cover growing consumption, we`ll consider this project."
    
Because of overcapacity in the global aluminium market and an ugly balance sheet, Rusal said in March this year that it had shelved Siberia plans for now. Rusal said in 2012 that it was looking for unidentified Chinese partners to develop a high-tech smelting plant in east Siberia.
    
In March last year, Rusal signed a memorandum of understanding with Chalco to replace outdated and high-cost production facilities in Eastern Siberia. This fits with China`s hopes to replace old smelters to reduce pollution, despite the country`s aluminium industry still being in overproduction, Mukhamedshin said.
    
Rusal also predicts this year`s forecasted 1.5 million tonne global (excluding China) aluminium supply deficit will extend to 2017, Mukhamedshin said.
    
Last month, Rusal said it returned to profit for the first time in five quarters, and gave a bullish outlook for aluminium prices, driven by growing demand from carmakers and supply cuts outside China.
    
Rusal had earlier in the month completed a crucial restructuring of $5.15 billion in debt and has no payments due until January 2016. The deal gives it flexibility to pre-pay debt when cash flows are strong and pay less when London Metal Exchange prices fall.

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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2014. We invite you to join the event and to celebrate the 16^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2014, please visit: www.chinaminingtj.org.

Imported iron ore prices slide

Source: www.chinamining.org  Citation: Xinhua  Date: September 10, 2014

Prices of imported iron ore at 33 major Chinese ports have sunk to their lowest levels of the year, new data has showed.
    
In the week ending Sept. 9, the price index for iron ore imports with a 62-percent purity grade dropped five points from the previous week to 83. The index for imports with 58-percent purity dipped four points to 72, according to the Xinhua-China Iron Ore Index report released on Tuesday.
    
The report attributed the trend to steel firms` caution in making any purchase orders amid a sluggish steel market.
    
An economic slowdown and a cooling real estate market are depressing the steel market. Steel prices have slumped by 210 yuan (34 U.S. dollars) per tonne since the start of August to below 3,000 yuan per tonne, according to data from the Xiben New Line Stock Co., Ltd., a leading e-commerce service provider for resources including iron ore and steel.
    
The Xinhua-China Iron Ore Index, compiled through analysis of 33 sea ports, also showed that stockpiles of imported iron ore stood at 109.06 million tonnes as of Sept. 8, down 300,000 tonnes from a week ago.

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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2014. We invite you to join the event and to celebrate the 16^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2014, please visit: www.chinaminingtj.org.

China rare earth export jumps 31 pct in August

Source: www.chinamining.org  Citation: Xinhua  Date: September 10, 2014

Chinese companies exported 2,353 tonnes of rare earths last month, nearly 31 percent more than the previous month, new customs data showed on Monday.

China`s rare earth exports fell to 1,556 tonnes in June, the lowest level of this year, according to the General Administration of Customs (GAC).

For the first eight months, exports rose 35 percent year-on-year to 18,252 tonnes. In value terms, however, exports contracted 7.9 percent from a year earlier to 261.6 million U.S. dollars owing to falling prices.

Export till the end of last month was nearly 60 percent of the full-year quota of 30,610 tonnes, shared by 28 production and circulation enterprises.

Rare earths, a class of 17 mineral elements, are some of the most sought after metals due to their vital role in green technologies like wind turbines and car batteries as well as in military sectors.

With its rare earth reserves accounting for 23 percent of the global total, China supplies over 90 percent of the world`s market demand at the cost of much pollution.

To curb environmental degradation and protect resources, China has set output ceilings, export quotas and stricter emissions standards as well as high resource taxes for some ores.

In the previous two years, companies had failed to use their full annual export quotas.

In 2013, China exported 22,493 tonnes of rare earths, up 38.3 percent from 2012. But it was well below the full-year export quota of 31,001 tonnes. In 2012, exports at 16,265 tonnes, just over the half of the full-year quota.

Early last month, the World Trade Organization ruled that China`s export duties, quotas, and administration of rare earths, tungsten and molybdenum products were inconsistent with WTO rules and China`s Accession Protocol.

In March 2012, the European Union, Japan and the United States teamed up to bring a joint case to the WTO over China`s measures on exports of rare earths, tungsten and molybdenum.

They claimed that the restriction had limited other countries` access to the minerals, given China a competitive advantage and hurt other producers and consumers.

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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2014. We invite you to join the event and to celebrate the 16^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2014, please visit: www.chinaminingtj.org.

China alumina prices rise further on strong sentiment

Source: www.chinamining.org  Citation: Platts  Date: September 10, 2014

China`s spot alumina prices firmed further across the country Tuesday on continued strong sentiment, as the market returned from an extended weekend to celebrate the Mid-Autumn Festival.
    
China was closed September 6-8 for the national holiday.
    
The Platts ex-works Henan alumina price was Yuan 2,600/mt ($423/mt) for 70:30 cash and credit payment terms, up Yuan 20/mt from Friday.
    
Spot trades were scarce Tuesday as domestic metal prices slipped, but sentiment stayed strong for the near term on anticipated restocking demand ahead of the winter during the fourth quarter and firmer imported alumina prices recently, several market sources said.
    
Refiners` offers across the country were also heard higher Tuesday.
    
Henan offers were pegged at Yuan 2,620-2,670/mt cash to partial credit terms, compared with around Yuan 2,600/mt previously, with Shanxi offers at Yuan 2,640-2,700/mt, also from Yuan 2,600/mt. Guangxi offers were quoted at Yuan 2,450-2,460/mt Tuesday, up from around Yuan 2,400/mt last week.
    
"Buyers and sellers are holding back today because metal prices lowered, and everyone just came back from holidays.
    
But smelters will still need to buy, especially in the next few weeks ahead of the National Day holidays at the beginning of October, so alumina can still firm," a Shanxi refiner said.
    
China will be closed from October 1-7 for National Day celebrations.
    
"The lower metal price today is just a technical correction, after having risen so much recently, so it`s not too surprising.
    
Prices now are much better than previously, and Q4 demand is strong, so we`re still confident alumina prices can edge higher," a Shandong trader said.
    
The front-month September aluminum contract on the Shanghai Futures Exchange closed at Yuan 14,875/mt Tuesday, down from Yuan 14,930/mt last week, but up from Yuan 14,030/mt a month ago.

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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2014. We invite you to join the event and to celebrate the 16^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2014, please visit: www.chinaminingtj.org.