China Mining News

Right time to enter gold market: Hunter Wise Commodities

Lower Gold prices on account of easing of European sovereign debt problems and consequent decrease in precious metals demand provides the right opportunity for investors to enter the precious metals market, according to financial experts at Hunter Wise

Huaye Real Estate forms mining subsidiary

It is reported that Beijing Huaye Real Estate will establish a wholly-owned subsidiary, Huaxingye Mining Investment with registered capital of CNY 20 million. As per report, the subsidiary will specialize in mining investment, resources exploration and

China top power firms keep racking up loss on thermal power – CEC

Reuters quoted the China Electricity Council said China top five major state-owned power generating groups continued to rack up losses on their thermal power business in May despite the government raising power prices in April. The council said mainly

Nippon Steel not in race for Sundance iron ore project – Report

Reuters quoted a company source with direct knowledge of the matter said Nippon Steel Corp, the world No 4 steelmaker is not in talks with Australia Sundance Resources on its USD 4.6 billion iron ore project in West Africa. The source said "We are not in

Long path to Oakajee deal

The proposed Oakajee project port facility site near Geraldton, WA. Source: The Australian VETERAN businessman Ken Court would love to be back at the centre of the decades-long dream to build a deepwater port at Oakajee, a vacant piece of coastline north

China Metal Acquisition Binge Led by Australian Rhodes Scholar

Andrew Michelmore, the Rhodes Scholar who plotted China’s biggest metals takeover bid, said Beijing isn’t calling the shots when it comes to buying commodities for the world’s fastest-growing major economy.

Central banks in emerging markets increase gold reserves on growing economic concerns

The total gold reserves of central banks worldwide fell by 9.6 per cent between 2000 and 2008 but has subsequently increased by 2.2 per cent from 29,870 tonnes in 2008 to 30,535 tonnes at the end of 2010. This is mainly a result of rising demand for gold from central banks with surplus liquidity in some emerging markets, such as China, India, Russia and oil producing countries in the Middle East region.

Two coal mine disasters kill 3, trap 40 in China

Rescuers were racing against time on Saturday to reach 40 miners buried underground in two separate coal mine disasters which have already killed three people in south China. Work crew operated at least 17 pumps at Niupeng Mine in rural Guizhou Province to release water from the flooded mine before rescuers could be sent down the pit.

Police arrest 2 suspects in high-tech platinum theft

Police have arrested two men in connection with a theft of platinum worth over NT$44 million from a high-tech company in Hsinchu County, officials said yesterday. Police also managed to recover 18 kilograms of platinum from the suspects during the arrests in Taoyuan

Mongolian concentrate coal exported to European market

Written by G.Ulziisaikhan This month mine explorers “Energy Resources” operating in Ukhaakhudag providence successfully transported their first coking coal pilot shipment to Europe. Produced in Umnugobi providence it is first transported to Choir,

International Minerals looking to sell Ecuadorian gold and silver assets

Though Chinese funding failed to materialize, International Minerals (TSX: IMZ) said it is in talks with an alternate suitor for its Rio Blanco gold-silver project and Gaby gold project in Ecuador, the silver miner reported. Last November International

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.