News

China`s copper demand hinges on power sector, credit: industry

Source: www.chinamining.org  Citation: Reuters  Date: September 4, 2014

An employee works at a electricity cable factory in Baoying, Jiangsu province, July 23, 2006.

China`s consumption of refined copper in the rest of 2014 may hinge on new orders from the power sector, where investment recorded a rare fall in the first half, and on bank lending, as tight credit conditions have cut demand from smaller end-users.
    
The power sector accounted for nearly half of copper demand last year in China, the world`s top consumer and producer. A drop in orders from the sector could cut China`s appetite for imports, a driving force of prices in the international market.
    
Investment in new power networks had been expected to rise more than 10 percent this year, industry sources said, but in the first half investment fell 0.6 percent from a year before, according to data from industry body China Electricity Council.
    
"If investment in the power sector doesn`t rise in the second half, we`ll have to adjust down our consumption forecast for 2014," said Yang Changhua, a senior analyst at state-backed research firm Antaike Information Development Co.
    
Antaike has forecast that China`s consumption of refined copper would rise 6.7 percent from last year to 8.75 million tonnes.
    
State Grid Corp of China, the dominant investor in power networks, said in May it was being audited, which industry sources said was likely to have slowed network investment. It was unclear what the aim of the audit was.
    
Antaike`s Yang said audits of firms in China usually slowed investment because decisions took longer to be made and it was not clear when the auditing at State Grid would be completed.
    
TIGHT CREDIT
    
Chinese banks have tightened lending since June because of a probe into an alleged metal financing scam, which has forced small traders of refined copper to delay some term shipments, cutting imports to a 14-month low in July. [MTL/CHINA1]     
Tight credit and fewer orders from the power sector have also forced some small copper rod and wire producers to close as the industry has surplus capacity, the industry sources said.
    
Rods and wires, mostly made from refined copper, are used to manufacture power cables and wires.
    
Some medium-sized rod and wire producers are also facing a credit crunch, said a trader at a large plant in southern Guangdong.
    
Jiangsu Zhongtong Copper, a medium-sized producer with 200,000 tonnes of capacity in eastern Jiangsu province, has told at least one foreign supplier it has been unable to get letters of credit (LCs) from banks for refined copper imports and wanted to delay term shipments, four trading sources said.
    
"Jiangsu Zhongtong told us they couldn`t obtain LCs," said an Asian-based trader at an international trading firm that had planned to ship 1,000 tonnes of refined copper a month to Jiangsu Zhongtong between September and December.
    
Jiangsu Zhongtong wanted to delay the shipments to next year as it was still in talks with banks, he added.
    
A senior executive at Jiangsu Zhongtong declined comment.
    
Traders said importers were not keen to buy spot copper, while sellers were not accepting low premiums.
    
Premiums for bonded stocks were at about $90-$100 a tonne over cash prices on the London Metal Exchange this week, flat from a month ago.
    
Stocks in bonded warehouses in Shanghai were about 500,000-550,000 tonnes last Friday, down from 570,000-600,000 tonnes in early August due to low imports, three traders estimated.

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 readying coal import curbs to help sickly miners-sources

Source: www.chinamining.org  Citation: Reuters  Date: September 4, 2014

China, the world`s top coal importer, is expected to soon put curbs on shipments of low-quality coal, responding to calls for support from the country`s miners who are seeing widespread losses due to oversupply and anaemic demand for the fuel.
    
The China National Coal Association has sent a proposal to the government calling for imports of low-quality coal with ash and sulphur content exceeding 15 percent and 0.6 percent, respectively, to be halted, sources from coal producers and power utilities said.
    
The National Development and Reform Commission (NDRC) and the National Energy Administration (NEA), which are key policy-setting organs of the Chinese government, have already signed off on the proposal, the sources said. It still awaits approval from China`s State Council to be written as law.
    
The plan is set to hit Australian coal exports hardest and block out tens of millions of thermal coal imports by year-end, the sources said.
    
"The association`s rationale is to try to cut total imports by about 10 percent to restore balance in the domestic market," said a source with a major coal producer who has been briefed on the association`s proposal at a meeting last month.
    
Officials from the coal association declined to confirm details of the proposal. The NDRC and NEA could not be reached for comment.
    
If the regulation is implemented, Australian and South African coal with a heating value of 5,500 kcal/kg will be worst hit, since their ash content hovers around 23-25 percent and they contain sulphur of 0.8-1.0 percent, traders said.
    
Top steam coal exporter Indonesia, which largely ships fuel with low heating value, sulphur and ash content, will be the least affected.
    
The Minerals Council of Australia said it is awaiting details on the policy and that the country is well positioned to meet importers` requirements on sulphur and ash content.
    
China imported about 54 million tonnes of Australian thermal coal and another 13 million tonnes from South Africa in 2013 - most of which would not meet the proposed restrictions on ash and sulphur content.
    
"We think the document may come within days or weeks. Beijing already hinted at restricting imports of low-grade coal previously and is well aware of the need to take swift actions to arrest the crisis," said an executive at a large coal firm.
    
PRODUCTION CUTS
    
The association, which represents about 1,000 coal miners in the country, had mooted a proposal last year to bar imports of coal with a heating value lower than 4,540 kcal/kg, sulphur content higher than 1 percent and ash exceeding 25 percent.
    
The plan did not get the government`s nod due to protests by utilities, who argued that they had long-term contracts that had to be honoured and that such a rule would jack up their costs.
    
But with more than two-thirds of Chinese coal miners now deep in the red and more than half of the firms either delaying or cutting staff salaries, the State Council is expected to soon implement import curbs to support the highly leveraged sector.
    
Hit by slackening demand growth, a worsening supply glut and Beijing`s war on smog, China`s benchmark thermal coal prices have been on a downtrend since late 2011 and are now hovering around six-year lows, at 478 yuan ($77.75) a tonne.
    
To help shore up prices, the country`s major coal producers, including Shenhua Group, China National Coal Group and Datong Coal Mine Group, have cut output, with promises to slash production by as much as 10 percent this year.
    
At an industry meeting on Aug. 28 attended by coal miners, power plants and chaired by NDRC director Lian Weilian, the commission said coal production should be cut by 200 million tonnes in the second half of this year and urged local governments to shut down outdated mines.
    
As part of Beijing`s anti-pollution campaign, the NEA, in charge of researching and drafting strategies to address China`s energy needs, is also studying plans to ban power stations from using coal with ash and sulphur content of more than 16 percent and 1 percent, respectively, local media reported. (1 US dollar = 6.1480 Chinese yuan)

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.

Nigeria woos Chinese investors for power sector reform

Source: www.chinamining.org  Citation: Xinhua  Date: September 3, 2014

Nigeria said Monday that Chinese investors are welcome as its electricity transmission expansion program is now open for foreign investment in the form of public-private partnership.
   
Alhaji Mohammed Wakil, power minister of Nigeria, made the remarks at a meeting with leading stakeholders and investors from Chinese power industry in the capital city of Abuja.
   
The minister said in a statement reaching Xinhua that the investment in the Nigerian power sector will be safe and get adequate returns.
   
"I urge you all to participate in the planned power transmission project in Nigeria. The government of Nigeria is working out the participation of private sector in the transmission sub-sector under a public-private partnership," he said.
   
Wakil described the opportunities in the power transmission and renewable energy sector as "very attractive and sustainable."
   
"In the renewable sector, we are opened to both independent power producers and participants in the Private-Public Partnership," he added.
   
He stressed that investors in Nigeria should maintain high level of efficiency and standard.
   
Nigeria, Africa`s top oil producer and most populous country, is intensively seeking more investment in its power industry to meet growing energy demands.

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.

Chinese government urged to cut taxes on steel scrap as consumption falls

Source: www.chinamining.org  Citation: Platts  Date: September 3, 2014

The China Association of Metalscrap Utilization has been lobbying the central government to lower the 17% tax on steel scrap sales to help increase its utilization in steelmaking, CAMU Secretary General Li Shubin said at the 7th China International Metal Recycling Conference in Beijing last weekend.
   
Recently, CAMU joined four other industrial associations, including the China National Ship Recycling Association, and petitioned the National Development and Reform Commission for preferential policies in steel scrap recycling, especially a tax cut, he said.
   
"We have been in frequent communication with related Chinese authorities since 2011 when Beijing canceled the tax refund, explaining the necessity for the steel scrap sector to enjoy a lower tax. Now it is more pressing when China is shifting towards an eco-friendly economy as scrap is more environmental friendly than iron ore and coke in steelmaking," he said.
   
Every tonne of scrap used in steelmaking will reduce 1.6 mt of carbon dioxide emissions and 3 mt of solid waste.
    
Beijing withdrew a 70% rebate on the 17% VAT for steel scrap recyclers in 2011, which has put China`s steel recycling industry at a disadvantage against iron ore that is becoming more affordable.
   
China`s steel scrap utilization fell to 110 kg/mt in 2013 from 117 kg/mt in 2012, Li said.
   
"Crude steel production using scrap now is about Yuan 200 ($32.40)/mt higher than iron ore, which we can`t afford as sometimes our gross profits per mt are not that much," a procurement official from a steel mill in central China said on the sidelines of the conference.
   
The company has been limiting scrap utilization to 10% of its total use in steelmaking for now.
   
A resumption of a 50-70% discount on the 17% VAT for steel scrap will, however, lead more mills to reconsider the proportion of scrap utilization, he added.
   
Zhu Jimin, vice chairman of the China Iron & Steel Association, nevertheless, was optimistic about the tax cut on scrap.
   
China is the world`s largest steel producer with crude steel output reaching 780 million mt in 2013, which was about 48% of the world`s total production.
   
Most mills now moving to blast furnaces that use mainly iron ore and coking coal also contributed to lower steel scrap consumption, market sources added.
   
China`s steel scrap utilization for steelmaking was merely 11% in 2013 compared with 32% in 1994.  

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 to cooperate with APEC on energy

Source: www.chinadaily.com.cn   Citation: Xinhua   Date: September 3, 2014

Chinese Vice Premier Zhang Gaoli addresses the opening ceremony of the 11th APEC Energy Ministerial Meeting in Beijing, capital of China, Sept 2, 2014.

BEIJING - Chinese Vice Premier Zhang Gaoli vowed on Tuesday to step up energy cooperation with members of the Asia-Pacific Economic Cooperation (APEC).

While addressing an APEC energy ministers meeting in Beijing, Zhang said the Asia-Pacific region has witnessed both robust economic growth and increasing energy consumption.

In face of challenges of energy security and environment, countries should speed up transformation of their economic development pattern, and seek sustainable growth that features diversification, energy saving and low carbon, Zhang said.

He urged closer coordination and cooperation in energy exploration, and to promote energy investment and trade, facilitate research and development of advanced energy technology, and enhance energy security.

China, as a large energy consumer and producer, will strive for sustainable energy development, and promote energy saving in its economic and social development, said the vice premier.

China will explore non-coal energy such as oil, gas, nuclear power, new energy and renewable energy, he said.

"We will promote technological innovation in the energy industry, step up energy system reform, build and improve an energy price system that reflects supply and demand in the energy market," he said.

China will facilitate closer international energy cooperation, utilize global resources and ensure energy security, he added.

The meeting is one of nine ministerial meetings held in China ahead of the APEC economic leaders` meeting in November.

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-Mongolia co-op goes beyond resources exploration

Source: www.chinamining.org  Citation: Xinhua  Date: August 26, 2014

The economic and trade cooperation between China and Mongolia has gone well beyond natural resources, and is extending to the fields of infrastructure and finance.
    
During Chinese President Xi Jinping`s state visit to Mongolia on Thursday and Friday, the two countries signed a host of cooperation documents, covering mainly three fields -- mineral resources exploration, infrastructure construction and finance.
    
In infrastructure, China agreed to help Mongolia finance a number of projects in medical care, education, railroad and housing.
    
In finance, the two sides inked a memorandum of understanding on setting up an economic cooperation zone and a deal on currency swap.
    
China also promised to support Mongolia in the creation of a better environment for foreign investment and help it join the Asia-Pacific Economic Cooperation mechanism.
    
Those agreements came at a time when Mongolia is seeking to diversify its cooperation with other countries as its mining-driven economy is facing a slowdown.
    
A 2012 law aimed at restricting foreign ownership in "strategic" sectors, which was later reversed, has slowed foreign investment, which fell 70 percent in the first half of 2014.
    
In the first half of this year, Mongolia`s economy grew 5.3 percent, compared with 11.7 percent in 2013, official data showed.
    
Faced with declining foreign investment and higher inflation, Mongolia is eager to change its natural resources-reliant economic mode and seek international cooperation in other fields.
    
Meanwhile, China, the world`s second largest economy and Mongolia`s biggest trading partner, could help to contribute to Mongolia`s economic restructuring.
    
China and Mongolia have huge cooperation prospects, said Chinese Foreign Minister Wang Yi, who accompanied Xi during the visit.
    
Wang said that Mongolia boasts natural resources while China have ample capital and advanced technology. The two neighboring countries are economically complementary, he said.
    
China has been Mongolia`s largest trading partner and largest source of foreign investment over the past 10-plus years.
    
Between 1990 and 2012, about half of the 11,642 foreign enterprises registered in Mongolia were Chinese. Of the 9.83 billion dollars of foreign direct investment absorbed by Mongolia during the same period, 3.48 billion dollars came from Chinese companies.
    
Also, trade with China in 2013 accounted for more than half of Mongolia`s total foreign trade. The two countries are hoping that bilateral trade could reach 10 billion dollars by 2020.
    
In its cooperation with Mongolia, China will always strive for win-win outcomes and will never attempt to seek gains for itself at the expense of the other side, Xi said in a signed article titled "Galloping Toward a Better Tomorrow for China-Mongolia Relations."
    
"Mutual benefit is precisely where the strength of their cooperation lies," Xi 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, Mongolia explore ways to expand bilateral economic ties

Source: www.chinamining.org  Citation: Xinhua  Date: August 21, 2014

Chinese President Xi Jinping is expected, during his upcoming visit to Mongolia, to work with Mongolian leaders to explore effective ways to expand and deepen bilateral economic and trade relations between two countries.

China has been Mongolia`s largest trading partner and a major investor for more than a decade, with the bilateral trade volume reaching nearly 6 billion U.S. dollars in 2013 -- nearly 20 times that of 2002 and more than half of Mongolia`s total foreign trade.

Xi`s visit will largely promote investment, economic and trade cooperation between the two countries, said Sun Weiren, the commercial counselor of the Chinese Embassy in Mongolia.

There are 6,169 Chinese enterprises registered in Mongolia as of June, 2013, accounting for 48.8 percent of foreign enterprises registered in Mongolia, according to statistics released by Mongolia.

Chinese investment totaled 2.56 billion U.S. dollars by the end of 2013, according to statistics released by China.

China and Mongolia share 14 border crossings for exports and imports, with the advantage of less transportation distance and lower cost.

China imports coal, oil, minerals, livestock and other primary products from Mongolia, while the electromechanical products, agricultural products, construction materials, and textiles from China are also popular in Mongolia.

The projects Chinese enterprises have engaged in include construction of roads, thermo-electricity stations, and housing, all of which serve as infrastructure build-up to help improve Mongolian people`s living standard.

China`s Gezhouba Corporation has built roads in western Mongolia, and other Chinese companies have built houses for Mongolian people. The Beijing Construction Engineering Group plans to build residential buildings in Ulan Bator, covering an area of 210 hectares with the support of preferential loans from China.

The financial cooperation between the two countries is also enhanced. The Bank of China (BOC) set up its representative office in Mongolia in 2012. In June 2014, the bank allocated its first loan of 25 million dollars to a local company, TUUSHIN. And more than 40 local companies have applied for loans of more than 3 billion dollars from the bank, covering such fields as energy, manufacture and infrastructure.

BOC will continue to support Chinese enterprises in Mongolia, as well as Mongolia`s construction of infrastructure, energy and resources development, and avoid competition with local banks, the chief representative of BOC to Mongolia, Dai Xingjun, said.

BOC, jointly with other Chinese enterprises, established two funds to help improve Mongolia`s education and the livelihood of the people, and to enhance cultural exchanges between the two.

Experts expect that China and Mongolia will work together to increase bilateral trade volume, improve the structure of foreign trade and investment, promote industrial upgrading, develop interconnection of railways, highways and electricity, as well as support cooperation in key areas and large-scale projects.

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 using more natural gas

Source: www.chinamining.org  Citation: China Daily  Date: August 21, 2014

Workers conduct a gas test at an energy station to ensure safe operation at an industrial part in southeast China`s Jiangxi province in March.

China`s natural gas consumption is on the rise and large investment in domestic gas production will increase that demand significantly in the future, a new report says.

China`s shift from coal to natural gas has led the government to spend more on infrastructure to develop the country`s own gas production, which is "likely to underpin a significantly larger role" in the country`s total energy consumption, said the Energy Information Administration (EIA), an agency under the US Department of Energy.

"China`s natural gas consumption has outstripped domestic supply since 2007, triggering rising imports of both liquefied natural gas (LNG) and pipeline gas," the report issued Monday said. "China`s natural gas consumption rose at an average annual rate of 17 percent from 2003 through 2013."

"What the data are showing is that China is relying a bit more heavily on gas. They`re basically interested in energy security and that comes from different sources," Candace Dunn, an industry economist at the EIA who wrote the article, told China Daily. "For gas, they see that as more of an opportunity, whether it be trying to produce it domestically and also looking at import opportunities."

In 2012, natural gas only made up 4.9 percent of China`s total energy consumption, but the Chinese government said this number will climb to about 8 percent by 2015, and to 10 percent by 2020, the EIA said.

To meet growing demand, the country has more than tripled natural gas production in the last decade, producing 3.8 trillion cubic feet in 2012, with aims to reach 5.5 trillion cubic feet a year by the end of 2015, according to the EIA.

"Most of the anticipated production growth is from large onshore fields in the western and north central regions of China as well as from the offshore deepwater regions in the South China Sea," Dunn said.

China`s natural gas imports have increased from 0.6 trillion cubic feet in 2010 to 1.8 trillion cubic feet in 2013, according to EIA data. The majority of its imports come from Qatar and Australia, two top sources of natural gas for Asian countries.

In 2012, China was the third-largest liquefied natural gas importer in the world, outranked by Japan and South Korea.

China has rich reserves of natural gas, but their extraction technologies may not be as sophisticated as those found in the US and it`s not easy to get at, according to Dunn.

"The geography there is a bit more complex and challenging. Water resources are another issue. That`s just more challenging in that environment. Plus, they have issues with land rights and mineral rights that are different in the US. There are various reasons why it seems to be taking longer there," she said.

Compared to the US, China`s consumption of natural gas is small: natural gas consumption made up 4.9 percent of total energy consumption in China, compared to the 27 percent of total energy consumption in the US, but that`s to be expected, Dunn said.

"We do have a very sophisticated gas industry here with infrastructure and trading systems," she said. "With China, I think it`s fair to say they`re working towards building a better system, more pipelines, more infrastructure."

"Overall, they would like to develop their gas industry much more, and they`re also looking at their pricing regime and reforming that. That`s been a process, just to make their prices more market-oriented," Dunn 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.