China Mining News

Mining industry leaders meet again at PDAC 2017

For the second consecutive year, PDAC will host the International Mines Ministers Summit (IMMS) with 25 countries attending to it.

Cobalt: will 2017 be a year of change?

A number of suspensions, most notably Katanga Mining in the DRC, have contributed to a tight metal market.

Human activity creates 208 new mineral species

Study shows mining has sparked "unparalleled inorganic compound diversification" like rabbittite at Lucky Strike, Utah and a handful found on smelter walls

Yancoal fresh loss casts doubts on planned acquisition of Rio’s mines

Industry observers believe Yancoal will face several challenges when trying to complete a $2bn equity issue to finance the acquisition of Rio’s coal mines in the Hunter Valley.

China closing 150 gold mines

Top gold producing country wants to modernize and consolidate its mining industry.

China’s coal consumption keeps plummeting, down for 3rd year in a row

Coal accounted for 62% of the nation’s energy mix last year, down from 64% in 2015.

Canada’s Saskatchewan and Manitoba are the world's new top mining destinations

Both provinces displaced Western Australia from the first to the third place thanks partly to their rich mineral reserves, competitive tax regimes, efficient permitting procedures, and certainty surrounding environmental regulations.

US Lithium to mine for copper, nickel, cobalt in Canada’s Saskatchewan

The Gochagar Lake project, until now property of Diamond Hunter, consists of four claims covering 3,759 hectares located in northern Saskatchewan.

Mining exploration spending drops to 11-year low

Miners and explorers are only spending a third of what they did four years ago – and proportion of greenfield exploration are at record lows.

Vale swings back into the black on soaring iron ore prices

The world's No.1 iron-ore producer recorded a net profit of $3.98 billion in 2016, a significant recovery from a loss of $12.13 billion it reported a year earlier.

Glencore’s profit soars on commodities rebound

A surge in commodity prices combined with its multibillion-dollar asset fire-sale has put the company in a position to pay big dividends and explore acquisitions.

Global steel production is surging in 2017

Up 7% year on year across all regions, supporting rally in iron ore and rebound in coking coal prices.

BHP Billiton back into the black, pays higher-than-expected dividend

Net profit was $3.2bn for the six months to December 31, compared with a loss of $5.7bn in the same period a year earlier.

China leading the charge for lithium-ion megafactories

As exciting as Tesla's Gigafactory 1 project is, it’s actually just one of multiple large-scale “megafactories” being built – with many of them being in China.

North Korea lights fire under coking coal price

The totalitarian state is the number three supplier to China of the steelmaking raw material.

China won't buy any more North Korean coal this year

The economic noose is being tightened around North Korea's neck after the pariah regime ignored a United Nations resolution by testing a missile last week.

Gold gets a shot in the arm from inflation and China

The question I have is: Why would an investor deliberately choose to lose money? But that’s precisely what’s happening now with inflation where it is.

CHARTS: The gigantic paper market to price gold

The gold market dwarves turnover on the Dow Jones and the S&P 500 combined, German and UK government bonds and even some of the top currency pairs.

De Beers Forevermark passes 2,000 global retail doors

Forevermark, the diamond brand from The De Beers Group of Companies, today announced it has passed 2,000 retail doors globally, following the opening of the Zen Diamond Anatolium store in the city of Bursa in Turkey. The milestone consolidates Forevermark’s position as one of the world’s fastest-growing diamond brands.

Interest rates, inflation, and Trumpian troubles point up for gold

Gold prices of late have been testing support just under the market, if you will, preparing for a healthy rally into higher territory.

Vale’s iron ore output just hit another record

The world’s No.1 iron ore miner produced 349 million tonnes of the steelmaking ingredient in 2016, helped partly by the opening of its massive S11D mine.

Vale resumes sale of remaining fertilizer assets in Brazil

A reworked sale process for plants located in the southeastern city of Cubatão was reportedly launched in recent days.

Appointment of Mr. Zhimin Li as the new Chief Executive Officer of Wesizwe Platinum Limited

The Board takes this opportunity to welcome Mr. Li and wishes him well in his new role which amongst others will be prioritizing the commissioning and commencement of production at the Bakubung Platinum Mine project.

China may tighten up coal output curbs again as prices collapse

Restrictions would remain in place for six months, with some mines and areas possibly excluded.

Coking coal resumes sharp decline

Down 4.7% on Tuesday to five-month low as ultra-cheap Mongolian coal gets trucked into market.