Schneider Electric, the global specialist in energy management, has signed an agreement to acquire Leader Harvest Power Technologies Holdings, one of the leading players in the fast-growing medium voltage drives market in China with a key position in mining drives supply.
China Mining News
Chinese asset managers are rushing to launch funds that invest in natural resources and precious metals overseas, responding to feverish domestic demand for inflation-hedging tools.
Gold rebounded on Tuesday after posting its biggest one-day loss in a month in the previous session on growing worries about another global economic downturn, but a weaker U.S. dollar and bargain hunting by jewellers offered support. While signs of a cooling Chinese economy could weigh on industrial metals, dealers expect no change in China's appetite for bullion. Investors were also awaiting a trail of U.S. data later in the day which could set the tone for commodities.
Kazakhmys agreed on Monday to borrow $1.5 billion loan from China Development Bank to help develop a large copper deposit in eastern Kazakhstan, officials said at a signing ceremony. The loan, to be disbursed by the end of this year, will enable Kazakhmys to develop the Aktogay copper field in eastern Kazakhstan without selling a stake in the deposit to China's Jinchuan Group Ltd.
Paul N. Wright, President and Chief Executive Officer of Eldorado Gold Corporation (TSX:ELD)(NYSE:EGO)(ASX:EAU) ("Eldorado" the "Company" or "we") is pleased to announce that Eldorado, through its 100% owned subsidiary Tuprag Metal Madencilik Sanayi ve Ticaret ("Tuprag"), has received its Trial Operating Permit ("Permit") at the Efemcukuru Gold Project in Izmir and the supplementary Environmental Impact Assessment Positive Certificate ("EIA") at Kisladag Gold Mine in Usak.
China's imports of unwrought copper and semi finished copper products dropped 3% on the month in May because of high stocks. Traders said that extra bookings placed in May will raise June arrivals. High bonded stocks in Shanghai limited China's imports
China exports for coke and semi-coke in May this year decreased 3.7% on year to 450,000 tonnes, showed the latest data released by the General Administration of Customs. In the first five months, the volume exported from the country totaled 2.13 million
Tightness in the Chinese power market could mean lower output of aluminum and nickel pig-iron, plus deceleration in steel production and a probable increase in thermal-coal imports, says Deutsche Bank. More than 10 provinces started […]
Coal stockpiled at the main power plants in East China's coastal province of Jiangsu stood at a high level presently, providing a sound basis for power supply, Xinhua Daily reported, citing local authorities. The stocks of the fuel at these power plants kept at a reasonable level of over 5.7 million tonnes, which was sufficient for use of above 15 days, better than that in other provinces, the Jiangsu Provincial Economy and Information Commission was cited as said.
Luxury jewelry has traditionally not been considered as profitable as high-end watches, handbags and garments in the Chinese market. But this is fast changing. The country's fine jewelry market has been growing steadily in the […]
This week’s activity has been far from one sided as markets are fluctuating in both directions with no clear direction. Weakness in equities, a rising dollar, a slowdown in China or a production increase in […]
Gold investment boom in Japan We have retained the gold investment market in Japan for each year of the transaction data. Historically, Japan has experienced a total of 14 gold fever. The current wave began […]
Chinalco Yunnan Copper Resources Limited has now earned a 70 per cent equity interest in the Mary Kathleen Joint Venture with Goldsearch Limited, located in North Queensland, Australia. CYU previously announced commencement of drilling on […]
Ivanhoe Mines Ltd said nearly one-fourth of the construction of its flagship Oyu Tolgoi project in Mongolia was completed by May and it continued to be ahead of schedule, sending its shares up 3 percent […]
Silver is searing hot in China as imports are set to hit a new high. The white metal's widespread use in industry and jewellery has ensured that though commodities may drift lower in the near […]
Aluminum Corporation of China (Chinalco) has taken a 45 percent majority stake in a rare earth joint venture in Jiangsu province, boosting such assets, which is part the firm's strategic development plan, a company spokesman […]
China showed robust demand for crude oil and coal in May, shrugging off higher prices to boost imports by more than 20 percent, but its appetite for overseas copper supplies remained sickly and iron ore […]
Migao Corporation (TSX:MGO), a China-based leading specialty potash fertilizer producer, this week reported financial results for the year ended March 31, 2011. Migao reported net income of $34.5 million or $0.66 per basic share from record revenues of $317.0 million (RMB 2.1 billion) for the 12-months ended March 31, 2011 as compared to net income of $38.3 million or $0.80 per basic share from revenues of $269.1 million (RMB 1.7 billion) for the year ended March 31, 2010. EBITDA for the year was $34.5 million as compared to $38.3 million in the prior year.
Ron Leven of Morgan Stanley has recently delivered a presentation under the auspice of ETF Securities Ltd. in which he outlined his expectations for the major currencies.
China showed robust demand for crude oil and coal in May, shrugging off higher prices to boost imports by more than 20 percent, but its appetite for overseas copper supplies remained sickly and iron ore buying showed signs of ending a strong run.
Silver is searing hot in China as imports are set to hit a new high. The white metal's widespread use in industry and jewellery has ensured that though commodities may drift lower in the near term on worries about the global economy, the silver market is likely to remain bullish, maintain analysts.
Aluminum Corporation of China (Chinalco) has taken a 45 percent majority stake in a rare earth joint venture in Jiangsu province, boosting such assets, which is part the firm's strategic development plan, a company spokesman said on Friday.
Short seller Jim Chanos is well known for his negative assessments of China, especially Chinese real estate. One of his more colorful expressions about China's economy is "the Chinese are on a treadmill to Hell." […]
China is giving its biggest, state-owned rare earths miner and producer a monopoly for the northern part of the country in reforms aimed at bringing the strategically important resource that's crucial to advanced manufacturing under tighter control.
The Board of Western Areas (TSX:WSA)(ASX:WSA) is pleased to announce an important milestone for the company. Since the first shipment ten months ago, Western Areas has exported over 100,000 tonnes of high grade nickel concentrate from Esperance Port to Jinchuan in China. This represents a gross value of over US$300 million based on average nickel prices since shipping commenced.