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.
China Mining News
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.
Some analysts see problems ahead for China as it tries to rein in inflation drawing parallels with Japan in the 1980s. What would a Chinese hard landing do for silver and other commodities?
The secret to successful investing, many experts will tell you, is identifying the next big trend, and then getting in with your money before the stampede of investors. The Daily Reckoning reports on what could be the world's next wonder material — graphene — used to make cheap solar panels, super-powerful transistors, and even the ability to make a jet fighter invisible.
After surging last week, industry bellwether Molycorp led a slide in rare earth mining stocks with a 5% drop by early afternoon on Thursday on news China is raising REE export quotas for the second half of the year in reaction to a WTO ruling. The exact impact of the decision is not yet clear: the new quotas only bring 2011 exports in line with last year prompting the EU to call it "highly disappointing." And fresh data from Lynas Corporation, world no. 2 outside China, show the price of a basket of eight REEs jumping 140% in just over two months.
Mining equipment maker Joy Global, Inc. (JOYG: News ) is close to acquiring Chinese coal-mining equipment maker International Mining Machinery Ltd. (ICMHF.PK), according to Bloomberg on Wednesday.
Daily Yomiuri Online reported that the World Trade Organization says China must eliminate rare earth export restrictions. Continue reading...
The prospect of mining the ocean floor may seem far-fetched, but China, motivated by its insatiable hunger for resources, has opened its eyes to the idea. According to a story in The Japan Times, China will attempt to plunge the Jialong - the world's deepest-diving manned submersible - 5,000 metres below the surface of the Pacific Ocean between Hawaii and North America, exceeding the craft's previous depth of 3,759 metres.
China, until recently a net exporter of coking coal, is set to become the world's biggest importer of the steelmaking ingredient by 2015, causing "dizzying" upwards pressure on prices, a Brazil-based coal industry consultant told Dow Jones Newswires.