en_矿业资讯

China`s coal output down 5.8% to 1.8 bln tons in H1

Source: www.chinamining.org   Citation: China Knowledge   Date: July 28, 2015

China`s coal output delivered a year on year drop of 5.8% to 1.79 billion tons in the first half of this year, according to figures released by the National Development and Reform Commission (NDRC).

In the first half of this year, China`s coal imports plunged 37.5% year on year to 99.87 million tons.

As of the end of Jun, coal storage at major ports of China shrank 16.4% to 39.67 million tons. Meanwhile, China`s national coal storage at major power plants stands at 65.41 million tons and will be available for 22 days by the end of Jun.

In the Jan-Jun period, total electricity consumption rose a meager of 1.3% to 2,662.4 terawatt hours, 4.1% lower than in the same period of 2014 and hit the lowest level since 1980.

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 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: www.chinaminingtj.org.

Private oil refineries get approval to import crude oil

Source: www.chinamining.org   Citation: Xinhua   Date: July 24, 2015

The government has given China`s private refineries more freedom to import crude oil, a move intended to further open up the State-dominated sector, the Ministry of Commerce (MOFCOM) said on Thursday.

The ministry specified the requirements for non-State companies that want to import oil, saying they must have annual refining capacity exceeding 2 million tons and meet national environmental standards.

They should also have storage capacity for at least 300,000 tons of crude. China is one of the world`s largest oil buyers, and nearly 60 percent of its petroleum is imported. Crude imports are dominated by State-run giants such as China Petrochemical Corp (Sinopec), China National Petroleum Corp (CNPC) and China National Offshore Oil Corp.

There are more than 20 qualified non-State importers, but they have limited quotas.

In August 2014, Xinjiang Guanghui Petroleum Co, a subsidiary of Guanghui Energy Co, secured government approval to import crude, the first private enterprise authorized to do so since 2008.

Besides imports, China is moving to open up the sector in various ways. For example, both Sinopec and CNPC have announced plans to allow more private investment in their assets.

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 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: www.chinaminingtj.org.

Chinese firm contracted to build 600 MW coal-fired power plant in Zimbabwe

Source: www.chinamining.org   Citation: Xinhua   Date: July 24, 2015

A Zimbabwean independent power producer on Thursday contracted China State Construction Engineering Corporation (CSCEC) to construct a 600-MW coal-fired power plant in the country`s northwestern region to ease its chronicle power shortages.

Construction of the phrase one of the Lusulu power plant, to begin in early 2016, will cost 1.1 billion U.S. dollars, according to the contract. CSCEC was awarded the engineering, procurement and construction (EPC) contract for what appears to be one of the largest power projects by value in Zimbabwe in recent years.

Chairman of Pan African Energy Resource Lusulu Power Stuart Perry told journalists at the signing ceremony witnessed by Finance Minister Patrick Chinamasa that the 600 MW is the first of four phases which will eventually add power generation capacity of Lusulu to 2000 MW.

He said the first phase, which will include construction of roads, transmission lines and related infrastructure, was scheduled for completion in the first half of 2019.

Finance Minister Patrick Chinamasa hailed the signing of the deal which he said will go a long way in addressing the infrastructure gap in power generation in the country.

He said the power project to be located in Binga in north west Zimbabwe will use surrounding coal concessions to fire the power plant and will feed its power onto the national grid with surplus being exported.

"The project is very important for the development of Binga as there will be huge infrastructure development in and around the plant," he said.

He also expressed hope that completion of the power project will not only boost availability of power in the country but result in a reduction in power tariffs.

Zimbabwe has faced perennial power shortages for over a decade owing to antiquated power plants. It currently produces 1,100 MW against demand of 2,200 MW and sometimes plugs the shortfall through imports from the region.

The country last year contracted a Chinese firm, Sino-Hydro to expand its second largest power plant, Kariba Power Station by 300 MW. The project is set for completion in 2017.

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 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: www.chinaminingtj.org.

Gold slide halted but analysts warn of worse to come

Source: www.chinamining.org   Citation: www.chinadaily.com.cn   Date: July 23, 2015

Gold stabilized on Tuesday after falling to its lowest level in more than five years as it hit a sixth day of declines on Monday.

Bullion for immediate delivery added as much as 1.06 percent to $1,108.09 an ounce on Tuesday and traded at $1,106.8 at 11 pm in Hong Kong, holding just above a five-year low. The precious metal had tumbled to $1,086.18 a day earlier, breaching the key psychological barrier of $1,100 an ounce.

Gold has been falling out of favor as the US dollar strengthened last week after US Federal Reserve (Fed) Chair Janet Yellen have reiterated that the US central bank was on track to raise rates later this year, said Kenix Lai, senior market analyst for currencies and interest rate trading at Bank of East Asia.

In Shanghai, around five tons of the metal were sold on the gold exchange within two minutes on Monday, in a market where the normal volume traded is 25 tons for the entire day, Australia and New Zealand Banking Group said in a note.

The sudden bout of selling across the Shanghai and New York markets on Monday and the rebound on Tuesday, Lai pointed out, had nothing to do with fundamentals.

As gold has generally been suppressed by the ongoing expectations of a stronger US dollar, as well as sluggish demand from the Chinese mainland and India, the world`s largest consumers of the metal, Lai believes the recent price slump could signal a "plunge in a volatile fashion" to $1,000 an ounce at the year-end.

"Despite today`s short-lived recovery, I think so far the good time to invest in gold has yet to arrive," noted Lai. "There is still going to be downward pressure. Price could head lower and is unlikely to rebound until the second half of next year."

Gold is seen as a safe investment and a store of value during times of economic uncertainty and high inflation. As inflation is heading nowhere and the promise of a third Greek bailout gives investors more confidence in the euro and the European economy, their desire for gold as a safe haven is fading, Lai told China Daily.

Lai`s views matched those of Christ Fund Securities research director Simon Lam Ka-hang, who is still bearish on gold and looking at $1,000 an ounce in the first quarter of next year. And his outlook is underpinned by the likely US Fed rate hike.

Meanwhile, Hong Kong jewelry retailers struggling with their weak performance in gold sales have their hopes pinned on the sliding price of the precious metal to boost sales.

Sales at Chow Tai Fook, the world`s biggest listed jeweler, fell 17 percent on-year in the three months to June 30, largely driven by a 12-percent decline in sales of gold products.

During the period, same-store sales of gold products in Hong Kong and Macao, where Chow Tai Fook stores were once a mecca for gold buyers, tumbled 25 percent.

Hong Kong-based jeweler Luk Fook Holdings also posted a 20-percent plunge in same-store gold sales in the two SARs for the quarter ended June 30, with the group`s overall same-store sales of gold products declining 18 percent during the period.

This came as the SAR in June saw a steep 10-percent drop in mainland visitors under the Individual Visit Scheme, following a 5-percent drop in arrivals in May. As mainland buyers are the major power behind gold purchases in Hong Kong, Lai said she could hardly expect a gold rush at the city`s jewelry stores.

Other commodities also advanced on Tuesday, with spot silver gaining 1.4 percent to $14.9115 an ounce, after declining as much as 2.3 percent on Monday. Platinum rose 1.16 percent to $989.4 an ounce after dropping on Monday to its lowest level since 2009.

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 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: www.chinaminingtj.org.

China`s Iran oil imports hit 2-mth high in June -customs

Source: www.chinamining.org   Citation: Reuters   Date: July 22, 2015

China`s crude oil imports from Iran rose in June to a two-month high, customs data showed on Tuesday, just as the Islamic nation begins to look ahead to ramping up its exports in the wake of last week`s nuclear deal.

Iran`s largest oil client imported 2.76 million tonnes last month, or 671,800 barrels per day (bpd), up 29.6 percent from May and 26.5 percent from a year ago.

Thomson Reuters Oil Research & Forecasts had estimated China`s June imports from Iran at 507,300 bpd, and has said it expects the volumes to hit 562,800 bpd in July.

The U.N. Security Council on Monday backed the deal Iran reached the previous week with six world powers to curb its nuclear programme in exchange for the easing of economic sanctions. And U.S. President Barack Obama has said he will veto any rejection of the deal by the U.S. Congress.

Iran`s oil minister, Bijan Zanganeh, has said the country is aiming to add 500,000 bpd to output within two months of sanctions being eased, and as much as 1 million bpd in six to seven months.

Most analysts do not expect Iran to make a major return to the market until next year because of time needed to implement the nuclear agreement and to revamp the OPEC producer`s oil infrastructure.

Over the last 2-1/2 years, sanctions put in place by the United States and the European Union cut Iran`s crude exports roughly in half to around 1 million bpd.

China`s shipments from Iran rose in June at about the same rate as its overall crude imports, which were up 27 percent from a year ago.

At the same time, China`s crude imports from Saudi Arabia C-IMP-SACN-MTH jumped 35.8 percent in June to 1.29 million bpd, the highest level since January 2013. That gave the top OPEC producer the No.1 supplier spot again after it dropped to third behind Russia and Angola in May.

Still, Russian imports C-IMP-RUCN-MTH were also up on year, surging 57.2 percent to 920,000 bpd.

Imports from Iran in the first half of 2015 were at 589,400 bpd, down 6.1 percent compared to the same period last year. Over all of 2014, China imported roughly 555,000 bpd of Iranian crude.

This year, Chinese companies have contracted to lift slightly more than 600,000 bpd of Iranian oil, including a deal with an independent petrochemical maker to supply condensate, a very light oil normally used as a petrochemical feedstock.

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 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: www.chinaminingtj.org.

China`s imports of iron ore shrink, steel exports surge

Source: www.chinamining.org   Citation: Bloomberg   Date: July 14, 2015

Iron ore imports by China shrank in the first six months of the year, highlighting weakness in demand in the world`s largest buyer as mills sold a record amount of production overseas amid a domestic glut.

Inbound cargoes of iron ore totalled 452.9 million metric tons between January and June, 0.9 per cent lower than the same period a year earlier, according to customs agency figures released on Monday. Overseas sales of steel products surged 28 per cent to 52.4 million tons in the six months, the agency said.

The stagnating trade in iron ore and simultaneous jump in steel-product exports show the extent of the slowdown in China`s steel industry, which is grappling with a property slump, overcapacity and losses. Benchmark iron ore prices collapsed last week to the lowest level since at least 2009, while steel rebar sank to a multiyear low in China. Rio Tinto Group said on Monday that iron ore had declined to a so-called new-normal level, which may persist through to 2020.

"China`s iron ore imports shrank in the first half, indicating that the country`s steel consumption obviously peaked last year," Xu Xiangchun, chief analyst at Mysteel Research, said by phone from Beijing on Monday. "Mills won`t be able to sustain losses at the current level and will gradually reduce production, and reduce their need for iron ore."

In June, iron ore imports were 74.96 million tons compared with 70.87 million tons in May, the agency said. Steel-product exports were 8.89 million tons in June from 9.2 million tons the month before, according to the agency.

While iron ore market conditions have changed, fundamentals remain robust, Michael Gollschewski, managing director of Rio`s Pilbara mines, said in a presentation on Monday. The London- based company, Australia`s largest shipper, declined to offer precise figures or define its "new normal" closely. Its shares in London traded 1 percent higher at 12.13pm local time.

Iron ore imports by China are expected to pick up this month and in August, Citigroup said in a report on Monday, citing increased shipments in June from Australia and Brazil, the world`s two biggest suppliers of seaborne ore.

The latest gauge of China`s slowdown will come on Wednesday, when official data on gross domestic product in the second quarter will be issued. The second-biggest economy expanded 6.8 per cent from a year earlier in the period, according to the median estimate of economists surveyed by Bloomberg. That compares with 7 per cent in the first quarter.

Iron ore with 62 per cent content delivered to Qingdao rose 0.4 per cent to $US50.30 a dry ton on Monday, according to Metal Bulletin Ltd. The price sank to $US44.59 on Wednesday, the lowest for data going back to May 2009. Spot rebar fell to 2102 yuan ($339) a ton on Thursday, the lowest level since at least 2003.

Baoshan Iron & Steel Co lowered its hot-rolled steel prices by 200 yuan a ton as of July 10, according to a company statement on Monday. That`s the second reduction in a month by China`s biggest publicly traded mill.

Prospects for an expanding glut and declining demand will worsen the outlook for Asia`s steel industry, Moody`s Investors Service said in a statement on Monday. Earnings of Chinese steelmakers will fall in the next 12 months as the real estate, infrastructure and manufacturing sectors weaken, Moody`s said.

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 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: www.chinaminingtj.org.

Bidding opens for Xinjiang oil and gas blocks

Source: www.chinamining.org   Citation: China Daily   Date: July 09, 2015

Northwestern China`s Xinjiang Uygur autonomous region launched bidding on Tuesday for six oil and gas blocks to private enterprises, a move that may end the monopoly of State-owned enterprises in oil and gas exploration, industry insiders said.

The bidding extends beyond State-owned energy giants to qualified Chinese private bidders with net assets of more than 1 billion yuan ($162 million), the Ministry of Land and Resources said in a statement on Tuesday.

The ministry announced that it had decided to transfer oil and gas exploration blocks in Xinjiang through competitive bidding, aiming to expand investment in oil and gas exploration and exploitation and further diversify investment entities in the upstream of the oil and gas industry.

"Public bidding is the first step toward the country`s reform of oil and gas exploration and exploitation, and will likely break the domination of the State-owned oil giants in the upstream of the industry," said Wang Kun, director of the ministry`s geological exploration department.

"China`s oil and gas exploration market has long been closed, compared to the copper ore and iron ore sectors.

"Outsiders can`t come in, while insiders are unwilling to invest for some reason," he said, adding that this has resulted in a slowdown in the development of oil and gas exploration.

Four State-owned oil companies-China National Petroleum Corp, China Petrochemical Corp, China National Offshore Oil Corporation and Yanchang Petroleum Group-are qualified to engage in oil and gas exploration.

China is seeking to reform oil and gas exploration and is encouraging more competition in the sector by inviting privately owned companies.

Resource-rich Xinjiang is the pilot region to usher in reform for private enterprises to participate in the upstream and downstream oil and gas exploration and development.

"Xinjiang is the center of the reform because it is where growth in oil and gas exploration is going to come from. Once the upstream business has been opened, the effects of the reform will spread to mid and down stream businesses," said Lin Boqiang, director of the China Center for Energy Economics Research at Xiamen University.

He said that the reform process will be further accelerated this year with more capital entering the sector.

Xinjiang had proven oil reserves of 5.6 billion tons and gas reserves of 1.4 trillion cubic meters by the end of 2014, according to the annual energy report released by the regional development and reform commission.

These figures both rank first in China, 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 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: www.chinaminingtj.org.

CNOOC`s new production to lift nation`s crude oil output from last year`s record

Source: www.chinamining.org   Citation: Reuters   Date: July 06, 2015

China`s crude oil output looks set to rise this year from a record in 2014 as new production from third-largest producer CNOOC helps to counter reductions from its two bigger rivals.

Output growth from China would add to a global glut even as exporters such as the Organization of the Petroleum Exporting Countries (OPEC) and Russia produce at near record highs and US shale producers keep ramping up output.

With the global oversupply as much as 2.6 million barrels per day (bpd), international crude prices have been nearly cut in half over the past year.

While there is no official Chinese production outlook, information from the biggest State oil companies indicates the nation`s output will rise slightly in 2015, largely due to increased production from CNOOC Ltd, the listed unit of State-owned China National Offshore Oil Corporation.

"What we have spent in the last few years has laid the foundation for the production growth this year," said an employee with CNOOC`s investor relations department who asked to remain unnamed. CNOOC spent 107 billion yuan ($17 billion) on capital expenditures in 2014.

Despite recent cost cuts, CNOOC has said it has already added at least 40,000 bpd of crude output this year. And it aims to increase daily domestic oil and gas output in China by at least 135,000 barrels of oil equivalent by the end of 2015, according the company`s 2015 outlook.

China raised its output in the first five months of this year by 1.8 percent from a year ago to 4.25 million bpd, compared with growth of just 0.1 percent over the same period in 2014.

In 2014, China produced an annual record 4.2 million bpd.

China`s two largest producers, PetroChina and Sinopec Corp, have both announced cuts. PetroChina plans to shrink its worldwide output by 1.5-1.6 percent in 2015, about 40,000 bpd, with more than 70 percent of the cuts to come in China.

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 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: www.chinaminingtj.org.