News

News briefing of CHINA MINING 2015 held

Source: www.mlr.gov.cn  Citation: www.mlr.gov.cn   Date: October 16, 2015

A Scene of the Briefing

CHINA MINING Congress and Expo 2015, approved by the State Council, sponsored by Ministry of Land and Resources, Tianjin Municipal People’s Government, and China Mining Association, and supported by National Development and Reform Commission, Ministry of Science and Technology, Ministry of Industry and Information Technology, Ministry of Finance, Ministry of Environment Protection, Ministry of Commerce, China Development Bank, the Export-Import Bank of China, Bank of China, will be held in Tianjin from October 20 to 23, 2015.

On October 15, the news briefing which introduced the highlight and the feature of CHINA MINING to the press was held by Ministry of Land and Resources. Themed with “New Normal, New Opportunities, New Development”, CHINA MINING organized theme forums, mining ministers’ forums, geological survey director forums, mining development high-level forums, 22 sessions, 12 country (region) mining investment project shows, and relevant mining knowledge lectures and workshop. CHINA MINING gave wide publicity to measures that strengthened domestic mining prospecting and development, innovated mining resources management, developed green mining, and deepened international cooperation. It mainly organized negotiations and cooperative dockings of international and domestic mining cooperation project promotions and established a platform for strengthening practical cooperation in the field of mining. A Mining Expo which attracted government delegations, mining corporations, mining equipment companies, technical service companies, investment and financing organizations, and evaluation and consulting firms from major mining countries and regions. With 2,000 booths and 600 exhibitors, the exhibition area reached over 38,000m².

Mr. Bai Xingbi, Deputy Director of Dept of International Co-operation & Science and Technology, introduced on the briefing that compared with former sessions of CHINA MINING, this year’s highlight and features would be more notable. First of all, with more targeted topics, CHINA MINING would analyze new development opportunities of mining industry in depth centering on current global economic development situations and the new normal of China’s economy. We would enhance the confidence of global mining development. Secondly, the representativeness of CHINA MINING would be further enhanced. Delegates and exhibitors come from more wide-ranging, covering the world`s major mining countries and regions with rich resources.  Major international organizations, large mining enterprises, financial investment institutions, consulting and technology intermediary service institutions, industry associations and guilds actively participate the session. The embassy of Peru newly became an international co-organizer of this conference. Thirdly, centering on national development strategies, we focused on development opportunities and policies under the One Belt and One Road and the China (Tianjin) Pilot Free Trade Zone. Mining cooperative projects in related Road and Belt countries and regions were strongly promoted this year. Lastly, CHINA MINING followed new technologies and new industrial trends with interest. Centering on the Internet+ Mining, mining and finance, the integral utilization of mining resources, and green mining, we would conduct in-depth discussions.

It is reported that CHINA MINING received warm support and about 8,000 delegates from over 50 countries would participate in it. Mining ministers or deputy ministers from Canada, Peru, Argentina, Mexico, Kenya, Sudan, Ghana, Poland, Eritrea, and Greenland were invited to attend the conference. Senior management staff of the World Bank, World Wide Fund for Nature, international mining companies, financing organizations, and consulting organizations would attend the conference. (Hou Yijun)

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.

China refutes Japan`s accusation of gas exploration in East China Sea

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

China on Thursday rejected protests by Japan over the development of gas fields, which Japan said, were in a disputed part of the East China Sea, saying its work was in undisputed waters under China`s jurisdiction.

"Japan has no right to make irresponsible remarks on it," said Foreign Ministry spokesperson Hong Lei at a routine press briefing, adding that Japan`s hype did not help bilateral dialogues and cooperation on issues regarding the East China Sea.

"We found Japan`s position not constructive in promoting improvement of China-Japan ties and managing the situation in the East China Sea through dialogue," Hong said.

He urged Japan to reconsider its action in accordance with the four-point agreement, which both countries signed in November 2014, including resuming political, diplomatic and security dialogues while acknowledging different positions on the Diaoyu Islands.

China`s stance remains unchanged, said the spokesperson, adding that Japan should create favorable conditions for fulfilling the agreement.

About CHINA MINING

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

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

China key player in global energy plan

Source: www.chinamining.org   Citation: China Daily  Date: September 11, 2015

Clean-energy development action already underway to reduce carbon emissions  

To combat climate change, a global energy network is necessary and China will play an important role in it, says Liu Zhenya, chairman of State Grid Corp of China, the country`s biggest electricity power supplier.

"The final construction of a Global Energy Network will reduce total global carbon emissions from the current 32 billion metric tons to 11.5 billion tons in the future, only half the amount in the early 1990s", says Liu.

Liu Zhenya, chairman of State Grid Corp of China, says the final construction of a Global Energy Network will reduce global carbon emissions. Tuo Yannan / China Daily

According to Liu, the Global Energy Network is based on a technology called ultra-high voltage. A UHV super grid would be able to transfer renewable energy from where it is abundant to where people live and work at a low cost.

This kind of electrical energy infrastructure would enable different types of energy such as solar, wind, hydro and geothermal generated electric power to reach the market.

In the past three decades, China has relied on coal-burning power plants to fulfill the demand of industrial and economic growth, but Liu says that in recent years China has already started plans and practices in technical innovation including UHV transmission, smart grids and new energy, to prepare for the construction of the Global Energy Network.

In 2011, Chinese media reported that the country`s first new-energy utilization project had been established in Hebei province in the north. This four-in-one project includes the collection of wind power, solar power, energy storage and smart electricity transmission. It is expected to solve electricity generating problems caused by large-scale development of new energy.

"Starting with the Kyoto Protocol, the idea of energy saving seems good. However, it is a little bit unrealistic," Liu says. He believes carbon pricing will certainly increase the cost of development. Methods such as carbon pricing, carbon trading and carbon capture cannot completely solve the problem of carbon emissions, as it is very difficult to enforce on an international level, he says.

"Industrialized countries, developing countries and underdeveloped countries all have their own interests. The cost of carbon capture is very high and this road will be a dead end."

Liu also says the establishment of a Global Energy Network can reduce global carbon emissions and resolve climate change issues, including temperature and sea level increases due to energy emissions.

The earth is rich with solar and wind energy and just a small amount of these is enough to satisfy human usage. In the last decade electricity generated from solar and wind experienced rapid development and the cost dropped more than 70 percent and 30 percent respectively.

Given the 12-percent annual growth in clean energy, clean energy can satisfy 80 percent of energy demands in 2050, says Liu.

China will play an important role in this plan, he says. While Europe is still engaged in protracted discussions about carbon capture and carbon pricing without introducing practical programs, China has already started its clean development plan.

SGCC has built seven major projects since January 2009, including three UHV alternating current power transmission lines and four UHV direct current lines. Liu says that by 2020 the Chinese government plans to finish work on a 70,000-kilometer UHV transmission line.

As a result, the power transmission capacity will reach 380 million kilowatts, to guarantee the transmission of 350 million kW of hydropower, 240 million kW of wind power and 100 million kW of photovoltaic power generation.

By then, the annual consumption of clean energy will reach 1.9 trillion kilowatt-hours, replacing 790 million tons of coal and reducing carbon emissions by 1.6 billion tons and sulfur dioxide by 4.4 million tons..

Tang Shuyue contributed to the story.

About CHINA MINING

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

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

Sudan announces new partnership with China in oil, gas fields

Source: www.chinamining.org   Citation: Xinhua   Date: September 09, 2015

Sudan on Tuesday announced a new partnership with China to enter into new oil exploration projects and natural gas production at fields in eastern, central and western Sudan, official SUNA news agency reported.

"China has agreed to enter into new oil exploration projects and expand its oil operations in the country," the agency quoted Sudan`s Petroleum and Gas Minister Mohamed Zayed Awad as saying.

The Sudanese minister further explained that China has also agreed to introduce the natural gas processing technology to increase the production.

Sudan began production of natural gas in 2009 from Tawakul well in Sinnar State within Block No (8) with production of 3.7 million cubic feet of condensate gas a day, announcing that the total gas reserve at the block amounted to 25 billion cubic feet.

China is considered the biggest foreign investor in Sudan with the biggest investments in the country and Africa.

During his recent visit to Beijing, Sudanese President Omar al-Bashir signed a strategic partnership agreement with Beijing that included an agreement for China to begin production of natural gas at a field in Sinnar State.

About CHINA MINING

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

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

China, Venezuela sign energy, mining cooperation deals

Source: www.chinamining.org   Citation: Xinhua   Date: September 07, 2015

Chinese Vice Premier Zhang Gaoli (R) meets with visiting Venezuelan President Nicolas Maduro before the closing ceremony of the 14th meeting of the China-Venezuela High-Level Joint Commission, in Beijing, capital of China, Sept. 2, 2015. (Xinhua/Ding Lin)

Chinese Vice Premier Zhang Gaoli addresses the closing ceremony of the 14th meeting of the China-Venezuela High-Level Joint Commission, in Beijing, capital of China, Sept. 2, 2015. (Xinhua/Ding Lin)

BEIJING, Sept. 2  -- China and Venezuela signed a number of cooperation deals in the energy and mining sectors at the close of a meeting in Beijing on Wednesday.

The 14th meeting of the China-Venezuela High-Level Joint Commission gathered about 300 officials and entrepreneurs from the two countries in Beijing from Monday to Wednesday.

Chinese Vice Premier Zhang Gaoli and visiting Venezuelan President Nicolas Maduro attended the closing ceremony.

China and Venezuela are good friends and partners with mutual trust and win-win cooperation, said Zhang.

During President Xi Jinping`s visit to Venezuela in July last year, the two sides decided to upgrade bilateral relations to a comprehensive strategic partnership, opening a new chapter in bilateral ties and showing the direction for future development, said Zhang.

Both sides should make joint efforts to implement the strategic consensus of the two leaders, he added.

Zhang praised the high-level commission and hoped it will contribute more to stable and sound development of bilateral ties.

Maduro, one of many foreign leaders who will attend Thursday`s military parade marking the 70th anniversary of the end of World War II, said he hoped China and Venezuela could strengthen their ties.

About CHINA MINING

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

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

China steps up investment in Russia`s oil and gas sector

Source: www.chinamining.org   Citation: PTI   Date: September 07, 2015

Stepping up its investments in Russia`s oil sector, China has bought 9.9 per cent stake in a liquefied natural gas project from Russian company Novatek as the two countries signed several agreements coinciding with President Vladimir Putin`s current visit to Beijing.

China`s Silk Road Fund Co. Ltd., an investment fund to finance Beijing`s proposed "Belt and Road" initiatives, bought 9.9 per cent of shares of the LNG project from Novatek.

State-run Xinhua news agency which reported the agreement has not mentioned the exact amount of money being invested.

This is part of growing Chinese investments in Russia`s oil and gas sector, which is struggling due to sanctions from EU and the US over the Ukraine issue.

The two sides also scaled up their strategic, economic and military cooperation as Moscow moved close to Beijing.

Novatek owned 60 per cent of the Yamal Peninsula-based project`s shares before the purchase, while French company Total and China National Petroleum Corporation held 20 per cent of its shares respectively.

In total, the three companies had invested over USD 10 billion in the project. The purchase is the Silk Road Fund`s first investment in Russia.

China has earmarked USD 40 billion for the Silk Road Fund to support infrastructure projects along both routes of "the Silk Road Economic Belt" and "the 21st Century Maritime Silk Road."

Last year Russia`s Gazprom and China`s CNPC signed a historic gas deal stated to be around USD 400 billion which will provide China with the natural gas for the next 30 years.

Also last night the two sides signed several agreements during the meeting of Chinese President Xi Jinping and Putin.

Gazprom and CNPC have signed a memorandum on a third project as part of their strategic cooperation over the next five years, Russia Today reported.

The resource base for gas supplies to China from the Russian Far East will be Sakhalin, Gazprom CEO Aleksey Miller said, adding that the volume and timing of the new route will be defined later.

The eastern and western (aka Power of Siberia and Power of Siberia-2) routes are in progress.

Russian oil major Rosneft has advanced its deal to acquire a 30 per cent stake in China`s ChemChina Petrochemical (CCPC).

"The document signed in Beijing defines a pre-agreed price, transaction structure and corporate governance issues," said Rosneft.

Rosneft also agreed to increase oil supplies to Chinese petrochemical plants to four million tons a year, CEO Igor Sechin said.

Overall, Rosneft has signed agreements with China worth a potential USD 30 billion, thus strengthening the established cooperation even further, he said.

The Russian truck producer KAMAZ and Chinese Hawtai Motor Group have signed an agreement to establish a joint venture.

It is reported that Hawtai production in Russia will be organized on the premises of KAMAZ, while China will build a new plant for the production of KAMAZ trucks.

During his talks with Putin, Xi said China firmly sticks to the policy of developing its comprehensive strategic cooperative partnership and broadening all-round pragmatic cooperation with Russia.

Putin attended a massive military parade held here to commemorate China`s victory over Japan in the WW-II.

Most the Western countries, including the US, stayed away from the event.

Xi expressed appreciation for Russia`s support to the commemorations and a Russian guard of honour`s participation in the military parade.

He said the two sides should expand cooperation in the fields of finance, investment, energy and regional affairs, work out a long-term outline to combine the China-proposed Silk Road Economic Belt initiative and the Russia-led Eurasian Economic Union project, and implement their cooperation 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 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: www.chinaminingtj.org.

Chinese jack-up gas platform to export to Mexico

Source: www.chinamining.org   Citation: Xinhua   Date: August 31, 2015

A Chinese firm will export a domestically developed gas compression jack-up platform to Mexico in early September.

With a daily gas compression capacity of 200 million cubic feet, the "Agosto 12" gas rig will go to the Cantarrel oilfield in the Gulf of Mexico, where it will be operated by a consortium of Mexican enterprises, said its developer Yantai CIMC Raffles Offshore Limited on Sunday.

Employing cutting-edge reinjection technology, the platform offers better performance in keeping the field`s pressure stable and cutting emission of toxic gases, the company said.

It is scheduled to start operation before the end of this year and remain in service for at least 25 years.

Liu Yanjia, vice president of the company, said the export of the gas rig would not only cater to the urgent demand of Mexican companies, but also benefit Chinese companies` future participation in the region`s oil and gas extraction.

About CHINA MINING

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

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

Chinese companies meet resistance when investing in Australia

Source: www.chinamining.org   Citation: Global Times  Date: August 31, 2015

Australia is China`s second largest target country for foreign investment. It is also the country where Chinese companies encounter the most "troublesome projects" when they invest abroad. Although challenges exist, Chinese companies have learned some valuable lessons that have helped them come up with new ways to succeed overseas.

The Rio Tinto Iron Ore Parker Point export loading facility in Dampier, Western Australia`s Pilbara region. The facility is part of the mining operation of British-Australian mining and resources company Rio Tinto. File photo: CFP

When Hu Yaobang, former general secretary of the Communist Party of China Central Committee, paid a visit to Australia in 1985, he was invited by former Australian Prime Minister Bob Hawke to visit the Pilbara region of Western Australia, the largest iron ore producing area in the world.

Years later, Hawke still remembered the details of that day when he picked up a piece of red iron ore and handed it to Hu, who then carefully put it into a pocket of his suit.

In 1987, China Metallurgical Import and Export Co purchased a 40 percent stake in Channar, a company under British-Australian mining giant Rio Tinto.

The deal marked China`s first important overseas investment project since the reform and opening-up in late 1970s.

China Metallurgical Import and Export Co merged into the State-owned steel company Sinosteel Corp in 1993.

In recent years, thanks to a A$27 billion surge in investment, China has overtaken the US (A$17.5 billion) as the largest foreign investor in Australia, according to a report released in 2014 by the Australian Foreign Investment Review Board (FIRB).

Australia has also become China`s second largest target country for overseas investment, according to the report.

However, Chinese companies that seek to make large-scale foreign investments are likely to encounter the most "troublesome projects" in Australia.

"Australia relies deeply on Chinese markets as China`s investment has soared year by year," a person close to FIBR was quoted as saying by the Hong Kong-based Phoenix Weekly magazine on Wednesday, noting that this situation has mingled hope and fear.

Although Chinese companies have had their share of difficulties while investing in Australia, some successful cases have lessons worth learning.

The secret of soccer teams

In March 30, 2012, Chinese telecom equipment maker Huawei Technologies Co invested $1.7 million to sponsor the Canberra Raiders soccer team.

The Raiders weren`t a great team, and the investment did not attract much attention, though one of its council members was Dennis Richardson, former director-general of the Australian Security Intelligence Organization.

Australian media interpreted the sponsorship as "Huawei`s attempt to pave road for future bids by sponsoring the soccer team owned by an influential Australian politician."

At that time, the US government had accused Huawei of posing a risk to its national security.

Under this influence, the Australian government disqualified Huawei from bidding for a National Broadband Network (NBN) project worth A$38 billion.

Still, its soccer strategy gained recognition within the company. Apart from renewing the contract with Raiders, Huawei announced in April this year its partnership with Gold Coast Suns, another team in the Australian Football League.

The Australian`s report cast the public spotlight on Huawei for the first time. It was Huawei`s first credibility crisis in Australia.

The company then began a bold trial. It created a board of directors in Australia to raise the company`s prestige and deal with the doubts and questions posed by the Australian government and media.

The board of directors was considered something of "dream team" because it included several Australian political heavyweights, including the former foreign minister Alexander Downer and former Victoria state premier John Brumby.

John Lauder, the former commander of the Royal Australian Navy, chaired the board.

Huawei continued to provide services to Australian telecom companies, and won orders for Australia`s network construction from Singapore Telecom and the British mobile phone giant Vodafone.

To clear up the doubts concerning the potential security threats that Huawei might pose to the country, Lauder suggested publicly that the Australian government should establish a security evaluation center to reduce the potential risks.

Government pressure makes up only a small part of the difficulties that Huawei encountered in Australia, Lauder said. The company`s bigger problem was that so few people had heard of it.

"In Australia, the company has to face politicians, business groups, the communications industry and the public; thus, various strategies are required," Lauder said.

Huawei tried hard to win public recognition in Australia through sports marketing, and the outcome seems sound.

`Australian mentality`

Australian newspapers paid close attention to news about China, especially concerning its stock markets, manufacturing, luxury market and investment policies for the retail sector.

Every move that China makes can impact Australia`s economy, the person close to FIRB told Phoenix Weekly.

For example, the price of iron ore has taken an unprecedented fall since 2014, leading the Australian media to declare that the country`s commodities boom was coming to an end.

According to its annual report on August 6, Rio Tinto`s net profit for the first half of 2015 fell 82 percent year-on-year to $806 million.

Analysts attributed the company`s plunging profits to the slowdown of China`s economy and its diminished demand for bulk commodities.

China`s investment in the mining industry and energy industry has undergone a major decline since 2013, according to a report released by KPMG and Sydney University in early 2014.

"Australia needs to make more effort to attract investment from China, given the increasingly intensified global market," said Doug Ferguson, head of KPMG`s Asia Business Group.

It was said so because there has been a type of mentality among the locals in recent years that Australia hopes to develop its economy with China`s abundant capital while worrying that these investments would run counter to the country`s interests because its resources will be sent to China.

Based on a public opinion poll conducted in 2014 by Lowy Institute, an independent international policy think tank, more than 31 percent of respondents regarded China as Australia`s best friend, overtaking Australia`s traditional ally Japan (28 percent). At the same time, 56 percent of respondents said that China had invested too much in Australia.

The results illustrates the dilemma faced by Australia`s Department of Finance, which is making adjustments to a series of policies, such as raising the threshold for investigations into foreign enterprises.

"The concerns are mainly about China`s large State-owned enterprises, which will be investigated in light of their relationship with the government, asset background and investment purpose," the person close to FIRB told Phoenix Weekly.

According to the current policies, China`s State-owned enterprises must get permission for investment from FIRB, regardless of the scale.

Under the "One Belt and One Road" initiatives, China`s overseas investment will continue to surge as more and more companies go global.

It seems that Chinese companies that plan to expand overseas should try hard to figure out how to deal with this "Australian mentality."

About CHINA MINING

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

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