China Mining News

Prices to spiral as top Chinese rare earth producers sign far-reaching pact

The China Post reports two of China's largest rare earths producers Rising Nonferrous Metals Share Co. and Inner Mongolia Baotou Steel Rare-Earth (Group) Hi-tech Co. — the listed arms of state-owned companies — said they signed a deal this week to cooperate extensively in the sector. China’s tightening grip on the market became clear last week when Hong Kong customs data showed rare earth ores, metals and compounds exports fell 11% over a single month while at the same time the value of exports surged 242%. News out on Friday of safety delays for a rare earth refinery in Malaysia that would have supplied some 39% of the elements outside China is expected to put further pressure on prices.

Is China the world’s new clean coal leader?

A new collaboration in Colombia is the latest evidence that China is becoming a world-leading innovator in clean coal. Chris Lo talks to Colombia Clean Power & Fuels COO Graham Chapman about partnering with Chinese firms and the country's influence over the industry.

China looks at Canadian oil sands to help satiate future energy demand

Chinese energy companies are looking to grab a stake in western Canada’s abundant oil sands to support China’s growing and developing appetite for oil. Despite an increasing awareness of environmental issues and movement towards cleaner forms of energy, reality still dictates that the majority of the world runs on oil.

China's first precious metals spot exchange opens in silver city'

China?s first precious metals spot exchange began trading Tuesday in Chengzhou in Hunan Province. The Hunan South Rare Precious Metals Exchange is based in China?s silver capital in Yongxing County.

Mining truck tires now pricier than a Merc

China's insatiable demand for commodities has prompted a tripling in the price of mining truck tyres, making them more expensive than a Mercedes sportscar. Prices for tyres about 3.5 meters wide used on the Caterpillar trucks that haul iron ore and coal have touched $93,500 on the spot market, according to Leighton Holdings, a contractor for mining companies including BHP Billiton. Prices rose as high as $140,000 in 2008.

China pays more in new potash deal with Russia, Belarus

Belarusian Potash Company, the agent for Uralkali and Belaruskali, has sold potash to two Chinese fertiliser importers at prices $70 a tonne higher than in the first half.

Star sells Rio’s sparklers to China

Most Australians have never heard her name, but WA's biggest diamond producer hopes Hong Kong celebrity Louisa So Yuk Wa will help launch it into one of the world's fastest-growing jewellery markets.

Canpotex and Sinofert sign new contract

Canpotex Limited (Canpotex) today signed a contract with Sinofert Holdings Limited (Sinofert) to supply 630,000 tonnes of potash during the second half of calendar 2011 at price levels which reflect an approximate $70.00 per tonne increase above the first half China price level.

China coal company buys $200m worth of Australian farms

It has been brewing for some time, but the revelation that Chinese state-owned company Shenhua Watermark Coal had spent about $200 million buying up 43 farms on prime agricultural land near Gunnedah in New South Wales has led to calls to halt the so-called foreign "land grab".

China Direct Industries to commence iron ore shipments to China from its Bolivian operations in the fourth quarter

scal 2011 Anticipates Fiscal Fourth Quarter Shipments From Bolivia in Excess of 85,000 Metric Tons Currently Valued at $10 Million With a Progressive Ramp in Shipment Levels Throughout Fiscal 2012 China Direct Industries, Inc. ("China Direct Industries")

China's coal mine safety record improves this year, says official

China has made new headway in coal mine work safety with fewer accidents and deaths since the start of this year, said Zhao Tiechui, head of the State Administration of Coal Mine Safety (SACMS), on Tuesday. This year 512 coal mine accidents have been

China's first precious metals spot exchange opens in ‘Silver City'

China's first precious metals spot exchange began trading Tuesday in Chengzhou in Hunan Province. The Hunan South Rare Precious Metals Exchange is based in China's silver capital in Yongxing County. Its first four products to be listed are silver, bismuth, indium and tellurium.

Imported iron ore stocks rise for sixth straight week

The stock of imported iron ore last week was 400,000 metric tons higher than one week earlier, or up 0.4 percent week-on-week, according to the index compiled by the Xinhua News Agency to track iron ore inventories and imports in Chinese spot markets.

China Has Fewer Coal Mine Accidents

China has made new headway in coal mine work safety with fewer accidents and deaths since the start of this year, said Zhao Tiechui, head of the State Administration of Coal Mine Safety (SACMS), on Tuesday.

Moly Mines signs US$494 million debt facilities for the Spinifex Ridge Molybdenum/Copper Mine

Moly Mines Limited (TSX:MOL)(ASX:MOL) said today it has signed various project debt agreements with China Development Bank Corporation (CDB) totaling US$494 million for the construction of the Spinifex Ridge Molybdenum / Copper mine (Spinifex Ridge), Australia. Image by Moly Mines Limited

China’s massive appetite for commodities sparks concern

China’s massive appetite for commodities is creating concerns for the global economy, the environment and workers in other countries. In a series of reports, VOA is looking at the economic power modern China wields. Chinese government and company officials are signing agreements at a dizzying pace around the world, including in places where few other foreigners invest.

Zijin Mining planning $280m U.S. dollar-denominated bond issue

Zijin Mining Group Co Ltd said it plans a $280 million U.S. dollar-denominated bond issue, raising capital to acquire copper concentrate overseas for a smelter project of its unit. In a filing to the Hong Kong bourse on Tuesday, Zijin Mining said the bonds would have maturity of five years and a fixed interest rate of 4.25 percent per year during its term with interest payable semi-annually.

Chinese miners plunge as reverse-listing contagion spreads

Iron, zinc and coal miner China Natural Resources shed 20% of its value on the Nasdaq stock exchange in morning trade on Monday in the absence of any fresh news about its operations while China Shen Zou Mining lost over 8%, the worst performers in the sector. Investors are continuing to worry about the soundness of Chinese companies that came to the US market through so-called reverse listings with the value of the 98 companies declining sharply in recent weeks as creative accounting and other irregularities are uncovered at firms engaging in operations as diverse as software and timber.

Eight killed as iron ore mine collapses in China

Eight miners were killed and five others injured after an iron ore mine collapsed due to a landslide in east China's Fujian Province, officials said Saturday.

China sticks to ban on favourable power tariffs for energy-intensive sectors

China's top economic planner on Thursday reiterated a ban on favourable power tariffs for power-intensive sectors as the world's second-largest electricity consumer struggles to deal with its worst power crisis in seven years. Last year, the National Development and Reform Commission (NDRC) asked local governments and power suppliers to cancel favourable power prices for aluminium, ferroalloy and calcium carbide makers, and said preferential power rates for direct trade between power generators and power users but without approval must be halted.

Caledon Resources agrees to be bought by Chinese investment group

Australian coking coal producer Caledon Resources said it agreed to be bought by a Chinese investment group for 313.1 million pounds ($507 million), in a long-awaited deal which has finally met Chinese regulatory approval. China's Guangdong Rising Assets Management Co (GRAM) first approached Queensland-focused Caledon with a 112 pence per share offer in November to which Caledon agreed in principle, subject to approval from the Chinese regulators.

Rare Earths mining, processing and supply outside China – Fulp

The Critical Metals Report talks to Mickey Fulp about the prospects for future rare earths supply chains independent of the current virtual Chinese monopoly.

China's share of global rare earth output to drop steeply

China's global share of rare earth output will drop steeply in the next two years as other countries ramp up production to compensate for domestic curbs on mining the minerals, a former government official and future rare earth group chief said. The country's rare earth output would drop from 95 percent of global output to 60 percent, reversing global reliance on China, Wang Caifeng, a former Ministry of Industry and Information Technology (MIIT) official told the official China Daily.

Gold One update on A$0.55 per share cash offer and proposed strategic partnership

Gold One International Limited (ASX and JSE: GDO) announced that it had entered into an agreement to implement a transaction with a consortium of Chinese investors whereby the consortium is seeking to become the long term strategic partner of Gold One

Iron ore prices to hold on China demand: Macquarie

Iron ore prices will remain firm in the medium term, as tight supply struggles to keep up with Chinese steel output, said Macquarie Commodities Research senior analyst Colin Hamilton at Platts Steel Methodology Forum in New York. The global iron-ore supply chain is struggling to keep up with that demand, and flat iron imports to China reflect the strain in existing infrastructure.