en_矿业资讯

China magnesium export offers rise further on stronger domestic prices 

Source: www.chinamining.org         Citation: Platts       Date: July 25, 2016

Spot export offers of Chinese magnesium ingot, basis FOB, rose further this week, supported by a firm domestic market seeing steady demand but tight supply as plants shut for scheduled maintenance, industry sources said Friday.

Export trades, however, remained thin as overseas buyers viewed current prices as too high, they also said.

Platts raised its weekly acid-washed magnesium ingot (minimum 99.8%) export price assessment to $2,200-$2,230/mt FOB China Friday, from $2,150-$2,180/mt FOB China a week ago.

The assessment included the compulsory Chinese 17% value-added tax and acid washing cost at Yuan 100-Yuan 150/mt ($15-$22/mt).

The Chinese magnesium die-cast alloy price assessment was also increased to $2,480-$2,510/mt FOB China, up from $2,430-$2,460/mt last Friday.

A north China-based producer said: "The domestic magnesium price has gone up to Yuan 15,000/mt ex-works for acid-washed material with VAT early this week. The spot supply is tight, while the domestic demand is steady. FOB offers are probably at $2,230-$2,240/mt, but overseas buyers have rejected the level, saying it is too high."

Another north China-based producer agreed, saying: "The domestic price has jumped sharply on Monday-Tuesday as the spot supply is tight. Domestic offers in Fugu (Shaanxi) are at Yuan 14,500/mt ex-works for non-acid-washed material but with VAT. Shanxi`s offers are at Yuan 14,800/mt ex works (for non-acid washed material but with VAT). FOB offers for acid washed material with VAT are probably around $2,310/mt on Tuesday."

"Domestic offers are at Yuan 14,500/mt (non-acid washed material but with VAT), up from Yuan 14,000/mt last week. Based on the current domestic price, FOB offers should be around $2,250/mt. However, the overseas demand is still lacking," a northwestern Chinese producer said.

A south China-based trader agreed overseas demand had been very weak.

"Nobody is asking for magnesium ingots but I heard FOB offers have been rising due to higher Chinese domestic price on tight supply and steady domestic demand. I heard someone indicated at $2,250/mt FOB, up from $2,150/mt last week. The market is weak due to the summer holiday and traded volume is thin," the trader said.

A Japanese trader said: "I heard many Chinese traders are delaying their deliveries as available spot material is very limited in the market due to maintenance shutdown."

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2016, please visit: www.chinaminingtj.org.

Shanxi to cut coal capacity by 20 million tons this year

Source: www.chinamining.org         Citation: chinadaily.com.cn    Date: July 19, 2016

Shanxi province announced plans to reduce its coal overcapacity by 20 million tons by the end of this year, and the amount is expected to reach 100 million tons by 2020.

Coal production will be limited to 1 billion tons and coal mines will be reduced from 1,078 to around 900.

Data from the Coal Industry Department of Shanxi show that the province had closed 16 coal mines by the end of June, which should lead to a reduction of 1,230 tons of coal capacity per year.

The effort made to cut overcapacity and carry out coal supply-side structural reform has had some initial success, said Hu Wansheng, deputy director of the province`s Coal Industry Department.

In the first half of this year, the province reduced coal output by 6,827 tons, a decrease of 15 percent over last year achieved reduction.

A package of reform measures was carried out from July to regulate the business and competitive nature of the coal industry.

Hu also pointed out that technological innovation on non-pollution mining and cleaning, low-carbon, and efficient use of coal is the only way forward for the coal industry.

Shanxi province is one of the major coal producers in China, and the coal industry is the pillar of its economy. Local government has controlled the growth of coal production in recent years to lessen reliance on coal resources.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2016, please visit: www.chinaminingtj.org.

China finds Asia`s third-largest reserve of manganese ore in Guizhou

Source: www.chinamining.org         Citation: Platts    Date: July 19, 2016

China has discovered Asia`s third-largest manganese reserves in Guizhou province, Songtao county, local authorities said last Friday. Citing a report by the Guizhou Bureau of Geology and Mineral resources, the China mining association said that a reserve of 106 million mt of manganese ore had been discovered in the county.

The bureau could not be reached for comment, however.

Earlier in 2016, local authorities reported the discovery of a reserve of more than 192 million mt of manganese ore in Guizhou province.

China is the largest consumer of manganese and relies heavily on imports. At present, South Africa is the largest producer of manganese ore, producing 6,200 mt in 2015, according to the US Geological Survey`s Mineral Resources Program. China is the second-largest producer, with 3,000 mt in 2015.

The Platts weekly assessment for 44% ores was $3/dmtu CIF Tianjin, last week, while 37% manganese ore was assessed at $2.50/dmtu CIF Tianjin.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2016, please visit: www.chinaminingtj.org.

Zijin Mining`s profit plummets in H1

Source: www.chinamining.org         Citation: Xinhua    Date: July 18, 2016

Zijin Mining Group, China`s biggest listed gold producer, saw its profits fall 60.48 percent in the first half of 2016, it reported Saturday.

Zijin Mining posted a net profit of 530 million yuan ($79.34 million), compared with 1.34 billion yuan during the same period last year, according to a statement on the Shanghai Stock Exchange.

Revenues stood at 38.89 billion yuan, representing a mild growth of 0.15 percent year-on-year.

The mining group, which also produces other metals such as copper, lead and zinc, increased its production and sales during the first half. However, due to hedging losses, the group`s profit plummeted, the statement said.

Zijin Mining said earlier this year that it expects gold production at its mines to increase by 15 percent to 42.5 tons this year and aims to raise its mine-produced copper by 3 percent to 155,000 tons.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2016, please visit: www.chinaminingtj.org.

China to cut coal mining capacity of SASAC-owned companies by 10% in 2 years

Source: www.chinamining.org         Citation: Platts       Date: July 12, 2016

China`s State-owned Assets Supervision and Administration Commission is set to eliminate coal and steel capacity of SASAC-owned companies by 10% over the next two years and by 15% over the next five years, it said on its website last Friday.

According to a source with one of China`s top five power generators, coal mining businesses of 12 state-owned companies might be merged with the China National Coal Group.

 The 12 companies include China Poly Group, China Railway Materials Co., Xinxing Cathay International Group, and China Coal Technology and Engineering Group.

There are 22 companies that are owned by SASAC, including two whose core businesses are coal mining and sales -- the Shenhua group and China National Coal Group -- and eight companies with integrated coal and electric power projects -- China Huaneng Group, China Datang Corporation, China Huadian Corporation, China Guodian Corporation, China Electric Power Investment Corporation, State Development and Investment Corporation, China Resources Group, and China Aluminum Corporation.

China`s 25 coal mining provinces have already announced plans to eliminate a total of 800 million mt/year of production capacity from 2016 onwards, according to a report by Dexin Yongming Consultation released last Friday.

The top five provinces are Inner Mongolia that will eliminate 120 million mt/year of coal mining capacity, Shanxi with 100 million mt/year, Guizhou with 70 million mt/year, Yunnan with 70 million mt/year, and Shandong with 64.6 million mt/year, according to the report.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2016, please visit: www.chinaminingtj.org.

China biggest alumina producer`s profit hits 5-year high

Source: www.chinamining.org         Citation: Xinhua    Date: July 12, 2016

Aluminum Corp of China (CHALCO), the country`s biggest producer of alumina and primary aluminum, posted profits of 330 million yuan ($49.4 million) during the first half of the year, the highest level in almost five years.

The company attributed its excellent performance largely to reduced production costs. Costs of electrolytic aluminum, alumina and electrolytic copper fell 400 yuan, 2,500 yuan and 5,200 yuan per tonne, respectively, said Yu Dehui, general manager of CHALCO.

Although prices of the three products dropped year on year during the first half, the company managed to improve profitability

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2016, please visit: www.chinaminingtj.org.

Large gas field discovered in SW China

Source: www.chinamining.org         Citation: Xinhua    Date: July 11, 2016

China Geological Survey (CGS) said a large natural gas field that could meet the needs of 10 million people has been discovered in southwest China`s Guizhou Province.

Geologists discovered four layers of shale gas and oil gas in Anye Well 1 in Zunyi, according to the Ministry of Land and Resources` CGS.

A test conducted in one of the layers found a steady daily output of 100,000 cubic meters, the CGS said in a statement.

The accessible gas reserve in the well is estimated at about 100 billion cubic meters, which can meet the residential, industrial and agricultural needs of a region with 10 million people.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2016, please visit: www.chinaminingtj.org.

China invests over $2.4 billion in Russian Far East

Source: www.chinamining.org         Citation: Sputnik     Date: July 11, 2016

Russia`s mechanisms for developing its Far East have attracted 16 billion yuan ($2.4 billion) worth of Chinese investments to the region, Russian Far East Development Minister Alexander Galushka said Tuesday.

Chinese investors have invested in a cement plant and plan investing in an oil refinery in the Amur Region`s Belogorsk ADT, as well as working in the Sakha Republic`s Kangalassy and Primorsky Territory`s Nadezhdinskaya ADTs. Chinese businesses also became cornerstone investors in the new Amuro-Khinganskaya ADT in the Jewish Autonomous Region, providing some 10 billion rubles ($157 million) in funds, according to the statement.

"Due to new Far East development mechanisms, such as Advanced Development Territories [ADT], the Vladivostok free port area, the Far East Development Fund and targeted infrastructural project support, the volume of investments that was attracted came to 1.1 trillion rubles, or around 110 million yuan. All of these mechanisms are popular with Chinese businesses. The volume of Chinese investments came to 163 billion rubles, or 16 billion yuan," Galushka was quoted as saying in a ministry statement.

Chinese investments have also gone into projects located outside of the Russian Far East`s special zones. Over seven billion rubles have been invested in a timber plant in the Berezovyi village located in the Khabarovsk territory, while a joint Russian-Chinese agroindustrial development fund has generated 10 projects worth 80 billion rubles that are ready for investment and will be presented at the Eastern Economic Forum due to be held in Vladivostok in September.

In March, the Far East Development Ministry told Sputnik that Chinese investors have injected more than $1.9 billion in Russian Far East development projects, which include an oil refiner and a logistical center, as well as a cement factory and a plant for reworking ferrous scrap metals.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2016, please visit: www.chinaminingtj.org.