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.
China Mining News
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.
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.
With gold once more assaulting new highs, part of the potential demand for the yellow metal in India and China has been withdrawn, but the indications are that it will return.
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.
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.
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.
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.
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 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.
Need proof that stakeholder relations can be fraught? See this recently uploaded YouTube video of Siveru Soma, an Indian MP, who was chased away and beaten up by a mob of women who were protesting a Chinese clay mining project in Visakhapatnam district.
Chinese miner Huaibei Coal Group is planning an initial public offering (IPO) on the Shanghai Stock Exchange, according to a local press report. Shanghai Securities News said the flotation will be carried out to help finance CNY 8.50 billion (USD 1.40 billion) of new projects.
Copper hit its highest since mid-April on Tuesday as a weaker dollar and hopes Chinese demand will remain firm helped offset investor anxiety over US and European sovereign debt concerns. Three-month copper on the London Metal Exchange (LME) traded at $9,800.25 a tonne by 0825 GMT compared with Monday's close of $9,694 a tonne.
The latter part of this editorial contains comments on resources stocks and metals. Notwithstanding those comments, the current situation in Europe will overwhelm everything else in the market near term so we will comment on that first.
Pregnant women who are exposed to coal smoke and pesticides are up to four times more likely to have babies with serious birth defects than women not exposed to these chemicals, a Chinese study has found.
Sino Clean Energy Inc. ("Sino Clean Energy" or the "Company") (Nasdaq: SCEI), a leading producer and distributor of coal-water slurry fuel ("CWSF") in China, today announced that it has entered into a non-binding, preliminary agreement to acquire 100% stake in Crown Energy Limited, an investment company registered in Hong Kong, which as its sole business holds a 60% stake in Foshan Nan Hai CWSF Co., Ltd. ("Foshan Nan Hai"). If after due diligence the Company decides to complete the acquisition, Sino Clean Energy will control a 60% stake in Foshan Nan Hai, a producer and distributor of CWSF in China.
(Recasts, adds comment/detail, pvs Singapore) * China GDP growth in April to June rises 2.2 pct * World stocks, euro fall on bank stress tests By Pratima Desai LONDON, July 18 (Reuters) - Copper was steady on Monday, but expected to come under pressure
China's Sichuan Hanlong Group made a bid to buy out the shares it doesn't already own in West African iron ore exploration company Sundance Resources, valuing the private conglomerate at A$1.4 billion ($1.5 billion). Last week, Hanlong, which is seeking to expand its reach in global resources, launched a A$144 million takeover bid for Bannerman Resources, which is looking for uranium in Namibia.
Rescue work in a flooded coal mine in Guizhou Province has been terminated, 14 days after a flood trapped 23 workers underground. The rescue work in Niupeng Mine, located in Pingtang County, was halted at 4 p.m. Saturday. The miners were very unlikely to be alive, according to an assessment by rescue experts. Twenty one workers remain missing while two bodies have been retrieved from the mine. The area where the miners are believed to be has been completely submerged. While 406,000-cubic meters of water had been pumped out during the past 14 days, flood water was still pouring into the pit.
China's coal output will grow rapidly this year to a total of 3.88 billion tons, according to Dong Yueying, deputy director of economic operations from China Coal Industry Association. Currently, China's coal output generally meets demand, as coal-rich
Spot iron ore prices extended gains on Friday, driving a key global index to near two-month peaks, as steel mills in top producer China continued to restock the raw material in anticipation of strong steel output and demand.
It turns out that China is not willing to pay whatever it has to for energy and metal resources.Several resource deals have faltered in recent months, indicating an increasingly choosy Chinese perspective on energy and metal acquisitions. Add to that the growing concern that the global economy is once again stumbling and that commodity prices may be near a top, and you have a Chinese deal-making market that has gone from 60 to zero in no time.
The Silver demand in China is on up. Imports of silver to the China have reached new highs, and analysts maintain that demand for this year will only continue to grow. The growth comes not only from industrial and jewelry demand, but also from the increased investments in silver as a hedge against market losses and inflation.
Joy Global, one of the world's leading heavy-equipment mining companies, will take over China-Based International Mining Machinery Holdings Ltd. According to a statement released on Thursday, Joy Global will purchase 534.8 million shares of IMM for HKD 8.50 a share representing 41% of the company. Total cost will be USD$538 million. Subject to regulations, Joy Global will purchase the remaining shares of IMM at a later date.
Galaxy Resources Limited (ASX:GXY) (PINK:GALXF) wishes to advise that construction and fabrication labour shortages in China's Jiangsu region have contributed to a revised commissioning schedule of the Jiangsu Lithium Carbonate Project (the Project or Jiangsu), to be staged over the next five months.