News

China`s Belt and Road Initiative makes significant progress: research report

Source: www.chinamining.org     Citation: Xinhua     Date: September 27 2016

Govt has to balance rising prices, overcapacity targets: experts

China`s Belt and Road Initiative has made significant progress since it was proposed three years ago, according to a report published on Monday.

The report was released at a seminar on the Belt and Road in Xi`an, one of the termini of the ancient Silk Road.

According to the China`s Renmin University, more than 100 countries and international bodies are involved in the initiative and more than 30 countries along the new Silk Road have cooperation agreements with Beijing. China is also working with more than 20 nations on industrial capacity projects.

The report said coordination of development strategies has begun with many countries along the routes, including Kazakhstan and Russia.

China is coordinating infrastructure standards, connecting transportation and energy infrastructure and boosting information connectivity.

China has signed investment treaties with various countries along routes and has already invested over 50 billion US dollars.

To ensure adequate financing, China has been pushing for trade settlement in RMB, currency swaps, and other financial arrangements. The Asian Infrastructure Investment Bank considers projects related to the initiative as its top priority, investing 509-million US dollars in its first four projects, all going to countries along the Belt and Road.

The Belt and Road, proposed by China in 2013, refers to the Silk Road Economic Belt and the 21st Century Maritime Silk Road, a trade and infrastructure network connecting Asia with Europe and Africa along the ancient trade routes.

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 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2016, please visit: www.chinaminingtj.org.

China considers making mining rules closer to int`l standards

Source: www.chinamining.org     Citation: Xinhua   Date: September 27, 2016

China is considering changes to its mineral deposit classification and reporting rules to bring them in line with international standards and open up its mining sector, government officials have said.

Mining is an important sector for China`s opening up, said Yu Haifeng, an official in charge of mineral reserves with the Ministry of Land and Resources at the CHINA MINING Congress and Expo held in the northern port city of Tianjin.

Compared with the standards of CRIRSCO (Committee for Mineral Reserves International Reporting Standards), China`s classification for solid mineral resources is suitable for government oversight, but has not allowed financial capital markets to be fully utilized, said Li Jian, another official with the ministry.

Differences in classification and reporting standards have led to higher costs for China`s mining firms in international cooperation, said Wang Jionghui, general manager assistant of China Minmetals Corporation.

Modifying its system to be closer to the CRIRSCO standard system will enhance China`s influence in the international mining market and help China build a highly efficient and sustainable mining market, said Wang at the expo.

Formed in 1994, CRIRSCO is a grouping of representatives of organizations responsible for developing mineral reporting codes and guidelines in Australasia, Brazil, Canada, Chile, Europe, Mongolia, Russia, South Africa and the United States, according to its official website. The combined value of mining companies listed on stock exchanges in those countries and regions accounts for more than 80 percent of the listed capital of the mining industry.

CHINA MINING Congress and Expo, which runs from Thursday to Sunday, is one of the largest mineral exploration and mining trading platforms. It plays an important role in communication and cooperation for mining communities globally.

China has become the world`s largest producer, consumer and trading nation of mineral commodities.

Over the past five years, China`s total production of primary energy hit 11.7 billion tons of standard coal and its total output of iron ore reached 6.8 billion tons, Minister of Land and Resources Jiang Daming told the congress.

During the same period, China`s total trade volume of mineral products was close to $5 trillion, an increase of 81 percent, said Jiang at the opening ceremony of the congress on Friday.

China has invested 568 billion yuan ($85 billion) in geological exploration over the past five years and discovered more than 730 large and medium-sized mineral deposits, Jiang said.

As China`s economy enters a new normal, the country`s mining sector should seek new momentum through structural reforms, he added.

The minister said China will gradually open up the exploration and development market in oil, gas and new energy and improve government supervision in the sector.

All countries should strengthen exchanges in policy, technical standards and codes in the mining field to facilitate investment, he said.

Booming global industrial cooperation and technological innovation have brought new opportunities to the mining industry, Jiang said.

China has made continuous efforts in a bid to bring its system in line with international mining reporting systems. In 2015, China launched a program to establish technical standard systems for mineral reserves.

CRIRSCO representatives said China has been proactive in bringing its standards in line with the organization and they appreciate what China has done in this regard.

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 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2016, please visit: www.chinaminingtj.org.

Create a bright future together 
--- For the Opening of CHINA MINING Congress and Expo 2016

Source: www.zgkyb.com    Citation: www.zgkyb.com    Date: September 21, 2016

CHINA MINING Congress and Expo 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on Sept.22nd- 25th , 2016. We wish this annual event a success.

After many years of accumulation and improvement , CHINA MINING Congress & Expo has become a perfect platform. During the conference, government officials, industry leaders and experts from both Chinese and foreign mining industries have in-depth dialogues on questions related with the mining industry. The topics cover keynote session supported by the world`s leading experts, mining ministers forum, geological survey directors forum, mining development summit forum and many breakout sessions including mining policies and financing, geological survey, prospecting & exploration and development, mineral commodities, mining sustainability, etc. and country (region) investment projects shows and more.

We are so excited that this international mining conference has been successfully held the 18th. "18" is a lucky number which is considered a harbinger of "fortune " in many places of China. With such a good luck and good wish, we expect that this meeting will be an unusually exciting show.

Mining has became one of the most globalized industries in recent years. And the global mining is increasingly to form a community of destiny. Looking back over the past year, the global economy is still in the doldrums and mining market has not yet bottomed out. Mining countries all over the world are profoundly understanding the reality of "a prosperity, a loss for both sides". So they also understand the significance of unity and cooperation which have also made an important contribution for the mining economy and the global economic recovery.

At present, the world economy is still in a downturn with the limited amplitude of uneven recovery trend, the continuous declination of investment, and the low level of price. Be affected by the sluggish recovery of economy and weak demand, global mining situation is still in the continuation of the previous downturn in the first half of this year. Compared with previous years, the recent shock rebound of the global commodities market is still in a low level. From the view of domestic mining situation, the contradiction of the lack of demand and the excess capacity, as well as a significant decline in profits, the financial strain of companies and the management difficulties, which make the recovery of mining industries still need time.

While we must acknowledge that the developed countries in Europe, America and Japan have completed the mission of industrialization and industry transformation and upgrading, which results in the basic steady demand of minerals. The new normal of Chinese economy is to resolve the excess capacity of traditional industries and strengthen the supply-side reform, change the resource industry chain structurally and make the bulk commodity consumption such as coal and iron into the peak interval. And with the acceleration of economic development of the "BRIC countries" and ASEAN countries, global demand for bulk commodities will basically stable. Especially with the operation of the new governance mechanism, the rise of a new round of industrial revolution, the industry driven from technology innovation and the effect of the supply-side reform, the world mining, especially the mining of emerging economies, will meet new opportunities.

With the theme of "From Novel Concepts，To Innovation Solutions"，this conference conforms to the demands of the mining industry at home and abroad, and manifests the determination that the conference organizers wants to make the international mining industry  reach a consensus and work together to overcome difficulties and boost confidence.

It is impossible to realize industrialization and modernization without reliable mineral resources security for the world`s largest developing country like China and the third world countries. China is the world`s largest minerals producing country, minerals consuming country and minerals trading country. In recent years, China made significant prospecting results, the capacity of resource security grew noticeably through implementing National Exploration & Development Planning (NEDP). But the imbalance of the global distribution of resources determined that there is no other country in the world can depend entirely on their own resources to meet the needs of their development, the international cooperation should be enhanced to learn from each other, as well as exchange of needed goods. In fact, in recent years, on the basis of equality, mutual benefit, cooperation and win-win situation, China carried out the fruitful cooperation with many other countries in the world on mineral resources, China gained a lot of successful experience, meanwhile, many countries benefit from it.

As is known to all, the western developed countries have completed the industrialization into the post-industrial society successively by the mid 1970s. the western developed countries began upgrading their industries by using the technological advantage, and realized the modernization quickly. But in the process of industrialization in the western developed countries, it also happened a series of "environmental hazards incident"which caused the global ecological environment crisis. The painful lessons of the development of the western developed countries made China`s policymakers to recognize that in the process of the globalization, if China set the "done" industrial civilization pattern of developed country as a goal, it will definitely have the contradiction and conflict with the developed countries and even the third world countries on the issue of natural resource. At the same time, China will pay a heavy even irreversible ecological environmental cost, therefore, looking for a new, ecological and civilized development mode is the inevitable choice of China and the third world countries. Certainly, it is also the choice of the developed countries. And it is the original intention of the Chinese government put forward “Innovation, Coordination, Green, Open, Sharing" as the new development concept.

Currently, world economy is at a crossroads, world economy economic pattern is undergoing profound changes. There is a deeper dilemma of economic globalization and a unprecedented urgency for global economic governance transformation. China must adhere to the resources strategy of "both home and overseas resource markets but based on home market". Domestically, as a traditional and pillar industry in China, mining provides a strong material support for our country`s modernization construction. Economic development situation determines mining development situation. In the long-term mining economic downturn, we should further implement the five development concepts, take the initiative to adapt to "new normal", release accurate policy signals to encourage scientific development of mining, reform the outdated mining system and mechanism, adhere to structural reform of the supply front as the main line, promote transformation and upgrading mining industry, and optimize structural adjustment, give full play to the role of innovation-driven in leading and supporting, develop green mining, and resolutely eliminate backward excess mining capacity; drive interaction and amalgamation between mining and finance, technology, information departments, effectively stimulate the market’s vitality, improve market expectation, release the potential of mining economic growth, and advance the sustainable and healthy development development of mining.

"Single person can hardly heave, crowd of walkers make path easier." Internationally, we should participate in the new round of globalization and global mining order management actively, take part in formulate international mining policies, rules, standards, build a just, reasonable and free international mining trade rules; cooperate with other countries and areas in exploration, mining, processing, technology and trade with a more inclusive and open mind, build a mutually beneficial, sharing, open international mining pattern, achieve win-win development; promote the sustainable and booming development of global mining on the basis of complementary advantages, mutual benefit and common development, become the world`s mining economic development "ballast stone". We expect to contribute to global mining economy`s way to get rid of the difficulty ,and work together to create a better future for global mining industry.

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 October 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.

Nonferrous industry body refutes claim that Chinese company is evading US tariffs

Source: www.chinamining.org     Citation: Global Times   Date: September 13, 2016

The China Nonferrous Metals Industry Association (CNMIA) said on Monday that foreign media accusations that a Chinese company is using transshipping, a method of evading US tariffs, by routing aluminum through Mexico to disguise its origins "seriously deviated from reality."

The CNMIA rebutted the transshipping claims raised on Friday by the Wall Street Journal. The US-based newspaper said China Zhongwang Holdings, the world`s second-largest producer of aluminum extrusions, had stored nearly 1 million metric tons of aluminum worth some $2 billion in a Mexican town, with intentions of shipping it to the US to avoid tariffs on Chinese exports.

China Zhongwang said in a statement sent to the Global Times on Monday that the company has no manufacturing base in any foreign countries, and that the company always abides by all international trade regulations and relevant government laws on exports.

Bai Ming, a research fellow at the Chinese Academy of International Trade and Economic Cooperation, said judging from what has been disclosed by overseas media on the matter, the evidence is not strong enough to prove that the transshipping practice really exists.

"First, overseas reports about the aluminum in Mexico and its origin are not clear enough. Second, overseas media organizations haven`t got sufficient proof that the stockpile is used for transshipping instead of for other purposes, such as for sale in Mexico," Bai told the Global Times on Monday.??

Xu Ruoxu, an analyst from Shenwan Hongyuan Securities, said Chinese companies might export virgin aluminum to Mexico, process it into aluminum ingots, and then ship the latter to the US, because the US charges a high tax on direct exports of aluminum ingots from China.

But according to the CNMIA, the Chinese government levies a 15 percent tax on all virgin aluminum exports, and therefore Chinese companies can hardly make any profits from virgin aluminum exports.

It also noted that if China transships virgin aluminum to the US via Mexico, the products can`t obtain a legal certificate of origin from Mexico, and the importer will still need to pay duties levied by the US.

The CNMIA also noted that if the "discovered" aluminum stockpile is composed of processed aluminum products imported from China, it doesn`t violate export laws in China or import laws in Mexico.

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 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2016, please visit: www.chinaminingtj.org.

NDRC loosens coal production restrictions

Source: www.chinamining.org         Citation: Global Times     Date: September 9, 2016

Govt has to balance rising prices, overcapacity targets: experts

Faced with surging coal prices, the National Development and Reform Commission (NDRC) will roll out a plan to allow some domestic coal companies to increase coal production under certain circumstances, domestic media reported on Thursday.

The plan shows that the NDRC wants to balance domestic coal supply and demand, but is not willing to overly loosen its grip on the production of domestic coal companies by extending their annual working time, fearing that such a move might run counter to the government`s goal of cutting overcapacity in the coal industry, experts told the Global Times on Thursday.

"If the government loosens production restrictions too much, it might suppress the coal price, and the government does not want that to happen," Guan Dali, a coal analyst from the industry portal chem365.net, told the Global Times on Thursday.

The NDRC held a meeting on Thursday with representatives from a number of major domestic coal companies and workers from the China National Coal Association (CNCA), with an aim of stabilizing coal supplies and preventing coal prices from surging too quickly, according to a report from yicai.com on Thursday.

Surging prices

The NDRC meeting convened at a time when China`s coal prices are surging fast. The benchmark Bohai-Rim Steam-Coal Price Index (BSPI) rose to 515 yuan ($77.25) per ton by the end of Tuesday, compared with 494 yuan per ton at the end of August 30, the largest increase since the weekly index was released, according to a report by cqcoal.com on Wednesday.

According to a report from the Securities Times on Thursday, the price of thermal coal has surged by about 25 percent since the beginning of July, while the price of coking coal has risen roughly 30-90 yuan per ton in provinces like North China`s Hebei Province and Shanxi Province in July.

Lin Boqiang, director of the Center for Energy Economics Research at Xiamen University, told the Global Times on Thursday that the surging coal price was a result of the government`s shortening of domestic coal mines` annual working days, which largely suppressed coal supplies.

The NDRC stipulated in February that domestic coal mines can operate no more than 276 working days in one year, down from 330 working days in the past.

About 1.9 billion tons of coal was produced in China from January to July, down 10.1 percent year-on-year, data from shcce.com showed on August 31.

According to Guan, as a result of the hot summer weather, electricity companies` demand for coal is increasing, but coal production and supplies are shrinking, which has resulted in a rise in coal prices in recent months.

He also noted that the rainy weather around July blocked coal transportation corridors in certain regions such as Shanxi Province, causing some electricity firms to run short of coal.

Striking a balance

According to the yicai.com report, dozens of domestic coal companies and coal mines will reach an agreement in the future under the guidance of the NDRC.

The agreement stipulates that domestic coal companies and coal mines should increase their coal production when the BSPI reaches a certain level. But when coal prices fall back down, increasing production will have to cease and the government-demanded working days will be reinstated.

Guan said that the BSPI lags a little behind the market price, but so far it is the most reliable parameter to formulate relevant policies in the coal sector.

Lin stressed that the main objective of the NDRC`s plan is to strike a balance between supply and demand, as well as prevent coal prices from fluctuating too greatly.

The NDRC`s decision runs counter to some market speculation that on Thursday it might allow domestic coal mines to resume working 330 days annually.

According to Guan, returning to 330 annual working days for domestic coal mines might effectively suppress coal prices. "The government does want coal prices to rise, just not in a too abrupt manner," Guan said, adding that a rise in coal prices would help boost profitability for domestic coal companies.

Guan also noted that if the government brings back the extended 330 working-day requirement, it might impact the efforts of cutting excessive capacities.

"With the rising coal price, some private coal mines have already secretly restarted production," Guan disclosed.   

Zhao Chenxin, the spokesman of the NDRC, said at a press conference on August 16 that about 95 million tons of coal had been cut by the end of July, accounting for 38 percent of the yearly target for cutting excessive coal capacities.

The CNCA couldn`t be reached for comment, while an employee of the NDRC said he didn`t know about the meeting when contacted by the Global Times.

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 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2016, please visit: www.chinaminingtj.org.

All countries should work together to cut steel overcapacity

Source: www.chinamining.org         Citation: China Daily USA    Date: September 1, 2016

China`s steel sector, like those in the rest of the world, faces the problem of falling demand because of the feeble global economic recovery, although measures taken by the Chinese government to eliminate overcapacity seem to be working.

But some countries have turned a blind eye to these facts and still blame China for the excess supply of steel products in international markets, and have launched anti-dumping investigations into Chinese steel products with the aim of using protectionist measures to solve the problems of their steel sectors. But instead of falling prey to prejudice, these countries should join China to work out targeted measures to reduce overcapacity in the steel industry. 

For a long time, China`s steel industry focused on domestic demand, not on exports. China`s accelerating urbanization, the development of its manufacturing sector and its expanded infrastructure construction mean the demand for steel in the country is till healthy. China became a net steel exporter from a net steel importer only 10 years ago, and exports have accounted for only 10 percent of its total steel output in the past decade, far lower than the 40 percent ratio of some developed countries. To restrict the export of a high energy-consuming product like steel, China has even raised its export tariffs and reduced export tax rebates, becoming the world`s only major steel producer to have such a measure in place.

So, reckless protectionist measures will not help resolve the global steel overproduction issue. But in May, the United States started an anti-dumping investigation into some of China`s major steel manufacturers, claiming they use unfair means to export steel products to the US. Some other economies, such as the European Union, Chile, Vietnam, Australia, India, Colombia, Canada and Malaysia followed suit. Such restrictive trade measures contravene the principle of fair market competition.

All countries should work together to cut steel overcapacity 

China`s steel exports to the US and the EU account for only a small part of their steel imports. Therefore, the imposition of anti-dumping duties on China`s exports will only help protect their backward production systems without solving the problem of their steel enterprises` weak competitiveness.

China`s steel enterprises are highly competitive in the global market and their products are valued for their high cost to performance ratio. A large part of Chinese steel exports have formed a deeply complementary relationship with the steel producers of the importing countries and thus have promoted local economic development.

The Chinese government has never denied the overcapacity in its steel industry. Instead it has implemented policies and regulations since 2013 to guide local governments and enterprises to digest their production surplus.

In February, the State Council, China`s Cabinet, issued a guideline to make overall policy arrangements to reduce the country`s steel overcapacity, vowing to cut 100 million to 150 million tons of crude steel capacity in the next five years from the level mapped out during the 12th Five-Year Plan (2011-15) period. For this year alone, the plan is to reduce 45 million tons of overcapacity, and by the end of July, 47 percent of the target had been realized. Now the government plans to take forceful measures to ensure the full-year goal is realized.  

The Belt and Road Initiative advocated by China, too, is aimed at strengthening infrastructure construction in the countries that become a part of it and at promoting interconnectivity among them. The smooth implementation of the initiative will help drive up the global demand for steel products and thus promote cooperation and realize win-win results. Given that in the era of globalization, steel overcapacity is not a problem of any one country, be it the highest producer, all countries should play their respective roles and work together to address this thorny issue.  

The author is a researcher with the Chinese Academy of International Trade and Economic Cooperation, Ministry of Commerce.

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 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2016, please visit: www.chinaminingtj.org.

Chinese enterprise to boost green, sustainable energy development in Pakistan under CPEC

Source: www.chinamining.org         Citation: Xinhua     Date:August 30 , 2016

China will help boost green, low-carbon and sustainable energy development to address power shortage in Pakistan, vowed a Chinese entrepreneur on Monday on the occasion as the two-day China-Pakistan Economic Corridor (CPEC) Summit and Expo are being held in Islamabad.

"This is one of our core concepts when we implement the out-going strategy. We share our advancing technologies and experiments with the countries we invested in," Yan Zhiyong, chairman of the Power Construction Corporation of China, or Power China, told Xinhua on Monday.

"We are not coming only for big projects, we are here to help countries, such as Pakistan, to plan and design their future energy development blueprints so as to address problems they are facing and to bring them into realities," said Yan, who is fighting for a responsible image for Chinese enterprises that increasingly engaged in world arena.

Many China-involved projects overseas are questioned by western countries over ecological issues. However, for his part, Yan said all the projects by Power China will abide by local standards if the countries have higher environmental protection clauses than that of China, while, if their standards are less strict, it will follow as same as China`s regulation.

The eye-catching Port Qasim coal-fired power project in Karachi in southern Pakistan is one of the best examples of Yan`s concepts. The project adopts a costly method to lower the temperature of the seawater used to cool the generating units so as to prevent from heating up water temperature around the coast. 

Abiding by local and World Bank`s environmental protection regulations, the Qasim power plant, with a total installed capacity of 1,320 megawatt, will provide 9,000 gigawatt hour power to meet Karachi`s electricity shortage in the southern Asia country.

Meanwhile, the Qasim project will also create over 3,000 jobs for the Pakistani people directly and will increase 500 jobs or training positions for locals every year after its operation.

Yan said that it is very important to train more local people to be qualified to operate the power plant and other utilities invested or constructed by Power China. "It`s just like the proverb which says give a man a fish, he eats for a day. Teach him to fish, he will never go hungry."

The chairman also suggested the Pakistani government to develop hydropower and wind power as the country obtains abundant water-power and wind-power resources.

"On one hand, utilizing local power resources will decrease energy import costs so as to lower energy prices domestically. That will benefit the people here. On the other hand, it will ensure Pakistan`s energy security by depending on its own resources," according to Yan, adding that "we must put a country`s demands into our consideration when we are going to launch a project."

Yan said the CPEC is a part of Chinas Belt and Road Initiative which aims at optimizing regional resources and enhancing connectivity between involving countries so as to achieve the goal of common development, and Power China has the ability to fulfill its role in helping Pakistan shake off energy shortage.

Earlier the day, addressing the inaugural session of the CPEC summit, Pakistani Prime Minister Nawaz Sharif said that the CPEC would not only serve as a game-changer for Pakistan, but a fate-changer for entire region by helping it get rid of economic deprivation and attain peace and prosperity.

"The CPEC is a new concept of diplomacy based on shared goals of prosperity for Pakistan and the region, and a project to eliminate poverty, unemployment and underdevelopment. It will not only improve Pakistan`s own infrastructure but will also provide it the much needed know-how, knowledge and expertise in new technologies," said the prime minister.

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 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2016, please visit: www.chinaminingtj.org.

China ceases anti-dumping duties on Japan, EU steel exports

Source: www.chinamining.org     Citation: Xinhua   Date: August 23, 2016

The Ministry of Commerce said Monday that it would scrap anti-dumping duties on high-performance stainless steel seamless tubes imported from Japan and the European Union, effective on Monday.

The ministry levied anti-dumping duties on imports of high-performance stainless steel seamless tubes from Japan and EU from Nov. 9, 2012, the ministry said in a statement on its website.

The duties ranged from 9.2 percent to 14.4 percent according to the level of dumping.

On June 20, the ministry notified the domestic steel industry that it would review the anti-dumping measures. During the review period, the domestic industry withdrew its applications for continuing levying anti-dumping duties on Japan and EU imports.

Therefore, the ministry decided to cease the anti-dumping duties, according to the statement.

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 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2016, please visit: www.chinaminingtj.org.