China Mining News

China Jan-May gold output at 132 T, up 3.67 pct

China's gold output in the first five months of 2011 totalled 132.02 tonnes, up 3.67 percent from a year earlier, the Ministry of Industry and Information Technology (MIIT) said on its website on Tuesday.

China hikes smelting, steel capacity cuts

Reuters Africa reports that China has ordered local governments to cut a total 2.04 million tonnes of aluminium, copper, lead and zinc smelting capacity in 2011.

GTSO: Chinese Rare Earths Output Ratio to Decrease Sharply

Chinese Official Reports Output will Fall to 60% of Global Supply SAN JOSE, Calif.--(BUSINESS WIRE)--As Green Technology Solutions, Inc. and others work to develop new sources of rare earths outside of China, Wang Caifeng, a former official at China’s

China's copper demand stages comeback in June, others falter

China's copper staged a strong comeback in June, but the outlook was marred by falls in a list of other key commodities, showing that Beijing's cooling measures were weighing on the economy.

China copper imports up 10% in May on more attractive pricing

China's copper imports rose 9.9 percent from a month ago in June on the back of more attractive import prices, while shipments of key commodities such as crude oil, iron ore and aluminium fell, data from the General Administration of Customs showed. China's imports grew a surprisingly weak 19.3 percent in June from a year earlier, slowing from the 28.4 percent pace in May, reflecting softer domestic demand as a tighter monetary policy starts to bite.

Two rescued after week trapped in China mine (AFP)

Two workers were rescued on Sunday after being trapped for more than a week deep underground in a southern China mine collapse in which eight people died and 12 were still missing, state media reported.

Oil sands in Canada eyed by U.S., China

In the northern reaches of Alberta lies a vast reserve of oil that the United States views as a pillar of its future energy needs. China, with a growing appetite for oil that may one day surpass that of the United States, is ready to spend the dollars for a big piece of it.

China confidence propels copper to 3-month high

Copper hit a three-month high on Friday as concerns about demand from top consumer China receded and supply disruptions reinforced expectations of potential shortages this year. However, traders expected subdued trading ahead of a monthly jobs report from the United States, the world's largest economy, later on Friday.

Paper Says China Has Legal, Moral Right to Curb Rare Earth Exports

Reuters reported that some Chinese media say China is within its rights to cap exports of rare earths.

Israel Chem signs potash deals with China

Reuters reported that Israel Chemicals (TLV:ICL) will supply an additional half million tons of potash to Chinese customers in 2011.

China may block Russian bid for potash control on Belarus crisis

Bloomberg reported that Russia's attempt to capture a huge stake in global potash resources from Belarus may be trumped by China.

28 still trapped in coal mine in China

Twenty-eight miners were still trapped underground Thursday while 63 others were rescued after a fire broke out in a coal mine in China's Shandong province Wednesday night, Xinhua reported. A total of 91 people were trapped after an air compression device located in a parking lot 255 metres underground caught fire at 6.45 p.m. Wednesday, a provincial government spokesman said.

Coal mine fire traps 36 in Shandong

GMT2011-07-07 08:55:24(Beijing Time) Xinhua English BEIJING - A coal mine fire that occurred Wednesday night left at least 36 people trapped underground in East China's Shandong province, according to State Administration of Work Safety (SAWS) early

China’s Jinchuan trumps Vale’s Metorex bid

Reuters Africa reported that the Jinchuan Group’s (FRA:GDZD) bid for Metorex (JNB:MEMTX) is higher than Vale’s (NYSE:VALE) offer. The market news is quoted as saying: Jinchuan, China’s dominant nickel producer, added almost 22 percent to Vale’s offer, making 8.90 rand per share for a cash bid at current exchange rates of around $1.32 billion.

Australian iron ore production and export to surge by 2012

Reuters reported that iron ore production in Australia, the world largest exporter of the steelmaking raw material is rising rapidly to keep pace with projected increases in China led demand.

Iron Ore-Shanghai rebar hits near 3-week top, gains seen capped

Shanghai steel futures rose more than 1 percent to their highest in nearly three weeks on Monday, chasing gains in Chinese equities, even as the outlook for steel demand remained bleak. The most briskly traded October rebar contract on the Shanghai Futures Exchange rose 1.4 percent to close 4,792 yuan per tonne, just off the day's peak of 4,798 yuan, its highest since June 15.

China government gold company buys CGG stock

Gold International Resources Corp. Ltd. announced Monday that the Company's largest shareholder China National Gold Group has purchased 1,033,400 shares of the Company on the open market, demonstrating its continuing confidence and high approval of the Company's prospects. The Company is listed on the Toronto Stock Exchange and the Stock Exchange of Hong Kong Limited. The Company has been designated as the overseas flagship vehicle of China National Gold, the only gold producer in China directly controlled by the State-owned Assets Supervision and Administration Commission of the State Council.

China Hit by Two Coal Mine Disasters

Heavy flooding in China has led to two separate coal mine accidents, which killed three people and trapped more than 40 on Saturday. In the first accident, heavy rains caused part of a coal mine in Guangxi Zhuang Autonomous Region to cave in, killing

US study says sulfur from China's coal-burning caused slight pause in global warming

Scientists have come up with a possible explanation for why the rise in Earth's temperature paused for a bit during the 2000s, one of the hottest decades on record. The answer seems counterintuitive. It's all that sulfur pollution in the air from China's massive coal-burning, according to a new study.

China's imminent collision with peak coal

World coal production is dominated by China. China's coal production is projected to peak in 2027 with a peak production level of 5.1 billion tons. World (excluding China)'s coal production is projected to peak in 2027 with a peak production level of 4.1 billion tons.

China approves penalties on those responsible for coal mine accident

The State Council, China's Cabinet, has approved the arrest of two senior executives responsible for a gas leak that killed 37 people in Yuzhou of central Henan Province in October 2010.

CIS originated pig iron to Europe stable

It is reported that pig iron shipped from Commonwealth of the Independent States maintained stable in European market last week. Yet, rumors spreading through the market players warn that the spot market has a possibility of going downward in future.

Rescuers rush to reach 42 trapped in Chinese mines

A buildup of volatile gas hampered rescue efforts in one Chinese coal mine and water continued to pour into another as emergency crews raced to reach 42 people trapped yesterday for a second day, officials and state media reports said. The accidents — a cave-in at one mine and a flood at the other — occurred on Saturday in two southern provinces after days of heavy rains.

China gold reserves too small, adviser says

Widely respected economist in China, Li Yining of Peking University, has joined a chorus of advisers urging the Chinese government to increase the country’s gold reserves as a hedge against inflation of foreign currencies. “China should increase its gold reserves appropriately, and China must take every chance to buy, especially when gold prices fall,” Li told China’s Xinhua news agency.

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