China Mining News

China Iron Ore & Steel Assoc. seeks to break grip of Big 3 miners

A top official from the China Iron Ore & Steel Association says China will only be able to break the grip of the three major iron ore miners, if it gets half of its iron ore imports from Chinese-vested operations.

Release of loan guarantees provided by China National Gold

China Gold International Resources Corp. Ltd. (TSX: CGG, HK: 2099) (the "Company") is pleased to announce that as of June 1, 2011 the project lenders ( Agriculture Bank of China, Bank of China, and a syndicate of banks comprised of the Bank of China

Chinese manganese metal spreads over specified markets in Europe and Asia

TEX reported that while the central government of China already decided to impose 20% of duty on export of electrolytic manganese metal from China and has been enforcing this imposition of the export duty from January 2008, the electrolytic manganese

Qiao Xing Universal files Annual Report on Form 20-F for FY 10

Qiao Xing Universal Resources Inc, a leading company in the molybdenum mining business as well as a company with substantial assets in the resources industry, announced that the company has filed its Annual Report on Form 20-F for the fiscal year ended

Power cuts in China to hit steel, iron ore production

Chinese steel production and iron ore demand are set to come under pressure from government-mandated electricity allocation restrictions in coming months, according to New York City-based consultancy Commodore Research.

Mongolia’s prized coal draws outsiders

Overlooking a deep black gash in the Gobi desert, Od Jambaljamts watched Caterpillar trucks rumble across the rim of the world’s biggest undeveloped coal deposit. He mused on Mongolia’s good fortune to have the world’s most voracious consumer of

Macroeconomic indicators – Baltic index continues losing streak

Reuters reported that the Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, remained negative for the ninth straight session as trading stayed subdued and a West Australia to China benchmark weakened.

Shenhua Energy H1 coal sales up by 39pct YoY

It is reported that China Shenhua Energy, the largest coal producer in China recorded a 39.2%YoY rise in coal sales to 191 million tonnes in the first half. During the same period, coal output increased 28.6%YoY to 140 million tonnes

China tops world in gold output in 2010

China, which became the world’s largest gold producer since in 2007, retained its position again in 2010 by mining 340.88 tonnes, up 8.57 percent year on year, the China Gold Association said Sunday. Increases in gold output will help China hedge against financial risks and inflation, as well as maintain economic security, the association said.

Iron ore imports reached 334.25 million mt in China in H1

Yesterday, China's National Development and Reform Commission released metallurgy industry's operation situation in the first half of this year. In the January-June period of current, iron ore imports reached 334.25 million mt, an increase of 8.1%;

Chinese state-owned company to build ferronickel industry in Kalimantan

Chinese state-owned company Dafeng Port Group plans to set up a ferronickel industry in Kotabaru, South Kalimantan with a production capacity of 200 million metric tons a year. The president director of Dafeng Port Group Co. Ltd., Ni Xiangrong, said here on Saturday the Dafeng Port Group Co.Ltd. has successfully developed an integrated economic zone in China and plan to build a ferronickel industry and its support industries in Kotabaru.

Eight people detained over coal mine fire that traps 28 miners in east China

Police have detained eight people in east China's Shandong Province in connection with a coal mine fire that has trapped 28 miners for more than two weeks, local authorities said Saturday. A total of 91 people were working underground in the Fangbei Coal Mine in the province's city of Zaozhuang on July 6 when an air compression device located in a parking lot 255 meters underground caught fire.

China's coal imports drop in first half

China's coal imports dropped 11.8 percent in the first half of the year to 70.49 million tonnes while exports also fell 13.7 percent to 8.75 million tonnes. During the period, the nation recorded a net import of 61.74 million tonnes of coal. The figure fell 11.5 percent year-on-year amid surging international coal prices, according to figures released Friday by the China National Coal Association.

China’s new futures market will lift silver

If you’re still bearish on long-term silver prices, you’d better reconsider your stance. Dollar-denominated Chinese silver futures were scheduled to begin trading on the Hong Kong Mercantile Exchange early today. This development will grant Asian

China discovers its largest molybdenum deposit

China has discovered its largest molybdenum deposit containing 2.2 million tons of the silvery metal, which ranks the second largest in the world, in east China's Anhui province. Anhui Geology and Mineral Resources Bureau estimate the deposit in Jinzhai county has 1.275 billion tons of ore which contains 2.2 million tons of molybdenum, said Wu Yulong, head of the bureau.

India steel output at 35.6MT in Jan-June, 1/10th of China

According to the World Steel Association (WSA), production of steel in China during the January-June period of the current year stood at 350.543 MT, almost half of world output during the same period and the single highesat by any country.

Electricity demand still growing in China

The demand for electricity continues to grow in China as surging economic growth creates a rising middle-class. With the largest population in the world, naturally the growing number of middle-class Chinese consume more energy.

Optimistic US data pushes copper to three-month high

Copper futures retreated Thursday, snapping Wednesday’s rally to a three-month high, as negative sentiment over China’s economic future outweighed better-than-expected US manufacturing data.

Gold: twitching tiger, cooling dragon

With gold once more assaulting new highs, part of the potential demand for the yellow metal in India and China has been withdrawn, but the indications are that it will return.

Clouds gather over global economies

Growth ground to a halt in the euro zone's private sector this month while China's factory sector contracted for the first time in a year, surveys showed on Thursday, deepening evidence of a sharp slowdown in the global economy. The surveys were published just before European leaders meet for a crisis summit to hash out a second bailout of Greece and allay fears a debt default by Athens will poison access to the bond market for bigger states. Image is by Malene Thyssen.

Rare earths: China always one step ahead of the West

When news broke Thursday last week that China was raising REE export quotas for the second half of the year, ostensibly in reaction to a WTO ruling, it was greeted with some surprise and a measure of relief by the makers of anything from iPods to lasers to stealth helicopters. But as the implications of the announcement on future pricing of the 17 elements begin to sink in some analysts are pointing out that rather than easing the pressure on manufacturers who need rare earths, China's move was aimed at cutting off at the knees development of mining projects outside its borders.

China says cannot invest ‘too much' in gold and silver

In calling for the U.S.to take ‘responsible' measures on the economy and debt, China's FX regulator says country can't buy too much gold as the market is too small.

Chinese mines under scrutiny

The recent Chilean mine disaster has sparked new fresh debate in China regarding work safety and rescue work in the domestic mining industry. China has made huge steps to improve mine safety in recent years, reducing the number of deaths to approximately 2,600 in 2009 from 7,000 in 2003 even though coal output has more than doubled.

Chinese investor plans Meridian takeover

NineMSN reports that shares in Meridian Minerals (ASX:MII)jumped after a Chinese state-owned entity, revealed plans to takeover: Shares in Meridian Minerals jumped after the junior explorer's largest shareholder, a Chinese state-owned entity, revealed plans for a $67.5 million takeover offer. Meridian shares were up one cent, or 8.7 per cent, at 12.5 cents at 1343 AEST after an earlier high of 13 cents.

Copper rises on US housing data, China demand hopes

Copper hit its highest since mid-April on Tuesday on better-than-expected U.S. housing data, a weaker dollar and hopes Chinese demand will remain firm, helping offset investor anxiety over U.S. and European sovereign debt concerns.