News

50 Chinese firms attend India-China meet to boost mining

Source: www.chinamining.org   Citation: PTI   Date: October 22, 2015

Nearly 50 Chinese companies attended a round table meet held by India in China`s northeastern port city of Tianjin to further boost cooperation between the two countries in the mining sector.

The meeting at the CHNA MINING Congress & Expo 2015 was aimed at promoting inter-governmental cooperation, technical exchanges, investments and other collaborative projects between the two countries in the mining and resources sector, an Indian Embassy press release here said today.

Jiang Daming, Minister of Land and Resources of China opened the Indian National Pavilion at the Exhibition.

The participating companies discussed further opening of cooperation both in India and China including in geo-chemical mapping and aero-geo survey, and commercial cooperation in the coal sector, underground coal mining, mining and related equipment, and environmental protection technologies, it said.

The Mining Roundtable drew participation from nearly 50 Chinese companies and other relevant organizations.

An Indian government-cum-business delegation led by Niranjan Kumar Singh, Joint Secretary, Ministry of Mines, is participating in the ongoing China Mining Exhibition being held in Tianjin from October 21-23.

The Indian delegation included officials from National Aluminum Company Ltd. (NALCO), Hindustan Copper Limited (HCL), Mineral Exploration Corporation Limited (MECL) and NMDC Limited, it said.

State-level representatives from Andhra Pradesh and Telangana are also participating in the Exhibition.

Separately, the Indian participants also held discussions with a delegation from Guizhou Province comprising of leading resource and mining companies, the press release said.

The delegation will have official discussions in Beijing tomorrow to discuss progress in implementation of these Understanding, it said.

Bilateral Inter-Governmental MoUs on Mining Cooperation and on Cooperation between the Geological Survey of India and China were signed in May, 2015.

About CHINA MINING

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

CHINA MINING Congress and Expo 2015 is held at Meijiang Convention and Exhibition Center in Tianjin on October 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.

Gloomy mood in iron ore not lifting anytime soon

Source: www.chinamining.org   Citation: www.scmp.com   Date: October 22, 2015

Iron ore prices which have been battered by rising low-cost supplies from Australia will likely see more pressure next year given stagnant demand and additions to an already bloated supply, analysts say.   

"Iron prices are likely to fall further since the supply surplus is set to worsen more while demand has been falling," Li Xinchuang, president of China Metallurgical Industry Planning and Research Institute told the annual CHINA MINING Congress and Expo in Tianjin.

Lily Shao Yuhan, the iron ore consultant of energy and resource industries consultancy Wood Mackenzie projected prices to bottom out around 2017 before recovering to levels similar to current prices by 2020.

Paul Butterworth, the research manager of steel and raw materials in commodities consultancy CRU, is a bit more optimistic.

"Prices will likely rise from 2017 onwards, as displacement [of high-cost supply] requirements diminish, [production] costs rise again amid recovering oil prices, and the market slowly moves back towards a balance," he said.

 Average iron ore prices at mainland ports fell 43 per cent year-on-year in the year`s first eight months to US$63 a tonne, and hit a trough of US$45 a tonne early July, according to China Iron and Steel Association (CISA) data. Iron ore is the key ingredient in making steel products.

The price drop has been blamed on rapid output expansion by the world`s big four miners - Australia`s Rio Tinto, BHP Billiton and FMG, and Brazil`s Vale.

Wang Yingsheng, CISA`s deputy secretary general, said last year the big four raised output by 120 million tonnes, forcing smaller players and higher-cost producers - including many on the mainland - to cut theirs by 100 million tonnes.

This year, the big four have added 100 million tonnes, while others have cut by 80 million tonnes.

The figures suggested a worsening glut in the 2.5 billion tonne-a-year market, of which around half is seaborne supply, mostly to the mainland.

Australia and Brazil`s share of mainland China`s iron ore import market have risen to 83 per cent in this year`s first-half from 65 per cent in 2010, according to CISA.

Shao forecast their share to reach 94 per cent by 2020, as they displace more mainland high-cost output.

Global iron ore production cost has fallen 25 per cent since 2013 thanks to currency depreciation, cost reductions and closure of high-cost mines, she added.

Mainland iron ore output dropped 9.6 per cent year-on-year in the year`s first eight months to 885 million tonnes. Low iron content, around half that of Australian ore, is the main reason for mainland ore`s high production cost.

On the demand side, the mainland, which consumes and produces around half the world`s steel, has seen consumption decline since July last year.

It dropped 5.5 per cent year-on-year in this year`s first eight months, after falling 3.2 per cent last year, amid the nation`s switch in focus from fixed asset investment-led to consumption-led economic growth.

In a report, ANZ`s analysts cited steel producers they visited as saying that Chinese steel demand has likely peaked, and that the real estate market - a key consumer - is unlikely to improve due to oversupply, while infrastructure spending has been slower than pledged.

"Steel exports will likely remain high until anti-dumping duties bite over the next six to 12 months, keeping iron ore and steel prices depressed," ANZ said. "Mounting steel mill losses are expected to trigger material capacity closures, which would signal the floor in steel and iron ore prices sometime mid-next year."

Mainland steel mills collectively recorded a net loss of 18 billion yuan in the year`s first eight months, of which 12 billion yuan was booked in August alone, CISA`s Wang said

Mainland steel export jumped 26.5 per cent year-on-year to 71.9 million tonnes in this year`s first eight months amid falling domestic demand, triggering trade friction with rival producing nations that have seen job losses and plant closures.

China contributed 82.9 per cent of the world`s iron ore demand growth between 2000 and 2013, according to Li.

Shao said "there is no next China" since while India has good potential to be a large customer with annual net import potentially reaching some 150 million tonnes due to rising real estate and infrastructure demand, it far trails China`s demand for imported ore that amounted to 526 million tonnes in the year`s first eight months.

About CHINA MINING

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

CHINA MINING Congress and Expo 2015 is held at Meijiang Convention and Exhibition Center in Tianjin on October 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.

Shale gas research reveals huge potential

Source: www.chinamining.org     Citation: chinadaily.com.cn     Date: October 22, 2015

China`s shale gas exploration and development technology has entered the early stages of large-scale development, a report said on Wednesday.

Released during a three-day international event – CHINA MINING Congress & Expo 2015 - the report said exploration and development of shale gas in the Sichuan Basin has made a major breakthrough, as they discovered the first un-compartmentalized field with a geological reserve of one hundred billion cubic meters.

By the end of 2014, China had spent 23 billion yuan for exploration and development and has proven reserves of 106.8 billion cubic meters with an expected annual output of 3.2 billion cubic meters, the report said.

It said the shale gas resource was rich and widespread in China with huge potential for commercialization.

From 2009 to 2012, the Ministry of Land and Resources spent 660 million yuan on investigative work in key areas. It also made evaluations on the potential resource in 41 basins and regions.

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 is held at Meijiang Convention and Exhibition Center in Tianjin on October 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.

Belt and Road Initiative opens opportunities for Chinese gold miners

Source: www.chinamining.org         Citation: chinadaily.com.cn      Date: October 22, 2015

Despite its current downfall from a capital strike with low funding, the mining industry will become an important area as the Silk Road Fund will put its focus on and give financial support.

During a forum in Tianjin titled CHINA MINING Congress and Expo 2015, Si Xinbo, executive vice president of the Silk Road Fund Co., Ltd, said the Silk Road Fund can participate to the cooperation in mining industry, providing support in the most effective and efficient way.

Mining industry is now facing huge downward pressure but the situation also gives mining companies great opportunities for consolidation and acquisition,¡±said Si, adding that the Silk Road Fund helps realize that through its insistence on market-oriented operation and focuses on mid and long-term investment.

The senior executive said mining is a typical capital-intensive industry that needs large amounts of investment in each aspect of its cycle. From exploration, mining to production and processing, the Silk Road Fund can provide necessary financial support to mining companies helping them develop assets and make overseas acquisitions.

The $40-billion Silk Road Fund, set up in December 2014, supports a wide range of areas including infrastructure construction, which improves connectivity across the regions involved in the Belt and Road Initiative, oil and gas industry, new energy as well as the mining and metal industries.

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 is held at Meijiang Convention and Exhibition Center in Tianjin on October 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.

Mr. Wang Min met with assistant deputy minister for the earth sciences sector, NRcan

Source: www.mlr.gov.cn  Citation: www.mlr.gov.cn  Date: October 22, 2015

On the afternoon of October 21, 2015, Mr. Wang Min, Vice Minister of Land and Resources, PRC, met with the Hon. Madam Judith Bossé, Assistant Deputy Minister for the Earth Sciences Sector, Natural Resources of Canada. The two sides signed The Action Plan for Cooperation on Earth Sciences and Mineral Metals. They also expressed the desire of continually promoting the domestic enterprises to make investments for future cooperation. Heads from relevant departments and units directly under Ministry of Land and Resources of China attended the meeting. (Photo:Hou Yijun, Edit: Xu Xiaojing)

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 October 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.

Mr. Wang Min met with vice secretary of state & chief national geologist of ministry of environment of Poland

Source: www.mlr.gov.cn  Citation:www.mlr.gov.cn   Date: October 22, 2015

On the afternoon of October 21, 2015, Mr. Wang Min, Vice Minister of Land and Resources, PRC, met with the Hon. Mr. SlawomirBrodziński, Vice Secretary of State & Chief National Geologist of Ministry of Environment, Poland, and his delegation at CHINA MINING Congress and Expo 2015 in Tianjin. The two sides reached a consensus on strengthening cooperation in geology and mineral fields. Heads from relevant departments and units directly under Ministry of Land and Resources of China attended the meeting. (Photo:Hou Yijun, Edit: Xu Xiaojing)

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 October 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.

Mr. Wang Min met with vice minister of energy and mining of Peru

Source: www.mlr.gov.cn  Citation: www.mlr.gov.cn  Date: October 22, 2015

On the afternoon of October 21, 2015, Mr. Wang Min, Vice Minister of Land and Resources, PRC, met with the Hon. Mr. Gullermo Shinno Huamani, Deputy Minister of Energy and Mines of Peru, and his delegation at CHINA MINING Congress and Expo 2015 in Tianjin. The two sides reached a consensus on strengthening cooperation in geology and mineral fields. Heads from relevant departments and units directly under Ministry of Land and Resources of China attended the meeting. (Photo: Hou Yijun, Edit: Xu Xiaojing)

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 October 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.

Mr. JiangDaming met with minister of Mineral Resources of Greenland

Source: www.mlr.gov.cn  Citation: www.mlr.gov.cn  Date: October 22, 2015

On the afternoon of October 21, Mr. Jiang Daming, Minister of Land and resources, PRC, met with the Hon. Mr. Andreas René Uldum, First Vice Primer, Minister of the Treasury and Minister of Mineral Resources,Greenland, and had an in-depth exchange of views on how to further strengthen cooperation in the field of geological and mining. Mr. Peng Qiming, chief engineer of the Ministry of Land and Resources of China also attended the meeting. Heads from relevant departments and units directly under Ministry of Land and Resources of China and some leaders of the mining enterprises attended the meeting. (Photo: Zhao Xinhao, Edit: Xu Xiaojing)

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 October 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.