en_矿业资讯

Oil and gas production expected to double in 2030

Source: www.mlr.gov.cn   Citation: www.gtzyb.com  Date: Jan. 9, 2014

development tendency in our country. The national oil and gas resource potential is considerable and oil and gas production is expected to double by 2030, close to 700 million tons. About the resource potential, the national petroleum resources are likely to exceed one hundred billion tons to 103.7 billion tons, 36% up from 2007. Gas resources will reach 62 trillion cubic meters increasing by 77% from 2007. As to the development tendency, China`s oil production was 207 million tons in 2012, gas 107.2 billion cubic meters, their equivalent nearly 300 million tons. It is estimated that before 2030, oil production will grow steadily, total detectable reserves amounting to 22 billion tons. The annual output will be more than 200 million tons with a peak value of up to 250 million tons. Gas reserves and production will rise rapidly, total detectable reserves attaining to 12 trillion cubic meters. With an annual growth of 10 billion cubic meters, its output will increase to 300 billion cubic meters in 2030. If unconventional oil and gas production reach 50 million tons and 150 billion cubic meters respectively, the equivalent will approach 700 million tons in 2030.

The national oil and gas resources dynamic evaluation results also show that the oil and gas exploration and development in our country manifest three features. First, the oil and gas resource replacement in West China is in good condition. Oil and gas production is expected to exceed 400 million tons by 2030, able to replace the east. Second, gas will present a rapid development momentum, a “duopoly” of oil and gas will be formed around 2025. Third, the proportion of unconventional oil and gas such as shale gas, coal-bed methane, dense oil, will gradually increase to 1/3 of the total by 2030. (Yu Defu ) (Translated by TLRHVC)

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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on October 20-23, 2014. We invite you to join the event and to celebrate the 16th anniversary of CHINA MINING with us. For more information about CHINA MINING 2014, please visit: www.chinaminingtj.org.

Coal resources in China amount to 5.9 trillion tons

Source: www.mlr.gov.cn   Citation: www.gtzyb.com   Date: Jan. 7, 2014

In light of coal resource prediction, the project presented predicted coal resources classification standards and potential evaluation method. Altogether, 2880 predicted areas were delineated with an area of 42.84 square kilometers. A total of 3.88 trillion tons of resources were predicted, including 1.5676 trillion tons of reliable level (334-1), 1.2190 trillion tons of potential level (334-2), 1.0930 trillion tons of deductive level (334-3). Superior resources were predicted to reach 981.5 billion tons, good 1.1345 trillion tons and poor 1.765 trillion tons. The coal resources within 2000 meters amount to 5.9 trillion tons, among which 2.02 trillion tons of coal resources reserves have been detected and 3.88 trillion tons predicted. (Chen Ming) (Translated by TLRHVC)

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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on October 20-23, 2014. We invite you to join the event and to celebrate the 16th anniversary of CHINA MINING with us. For more information about CHINA MINING 2014, please visit: www.chinaminingtj.org.

First total amount estimation of the key mineral resources within 2000m under the earth surface accomplished in China

Source: www.mlr.gov.cn  Citation: www.gtzyb.com  Date: Jan. 6, 2014

Duolong in Tibet is expected to be a world-class copper-gold base

Source: www.mlr.gov.cn  Citation: www.chinamining.com.cn   Date: Dec.31, 2013

“A prototype of the world-class copper gold base has already shown here.” This is one consensus from many experts and representatives who attended the results exchange conference on Tibetan Duolong integrated exploration area and expert seminar held in Beijing on December 29th.

It’s said, the geotectonic position of the Tibetan Duolong integrated exploration area was located in the west segment of the Pannujiang ore belt in the Tethyan ore domain. The Duolong integrated ore area was an important work area in the field. At present, five large to super large porphyry copper ore, that is, Duobuzaxi, Bolong, Tiegelongnan, Naruo and etc. , and many copper deposits had been discovered. In addition, a plurality of copper gold polymetallic ore was also found in other work areas, such as Qingcaoshan, Lemachaha and etc. 

“Among them, the Naruo copper deposit was calculated with 332+333 with 2,368,300 tons of copper, 85.18 tons of gold and 797.67 tons of silver. This ore deposit occupied three boundaries of the ore body, i.e. south, north and east, and was confirmed as a large-scale copper gold mine belonging to porphyry type and cryptoexplosion breccia type. The Tiegelongnan gold copper ore was calculated with 332+333, possessing 4,799,000 tons of copper, 65.96 tons of gold and 988.42 tons of silver. And lots of drilling holes terminated in the ore body. It was preliminarily thought as a super large copper gold deposit with more than 5,000,000 tons of copper belonging to epithermal porphyry type and cryptoexplosive breccia type.” These were introduced by the man responsible for the 5th geological team, Tibet Bureau of Geology and Mineral Resources which undertook the project.

He also introduced, at present, the Duobuza copper deposit was calculated with 332+333+334 having 2,735,700 tons of copper, 85.1 tons of gold. And the Bolong copper gold ore was calculated with 333+334 possessing 3,697,900 tons of copper, 85.1 tons of gold.

It was known to the reporter that in August, 2012, the Ministry of Land and Resources, the Tibet Autonomous Region People’s Government, Aluminum Corp. of China and Sichuan HTC Group Co. Ltd. signed a cooperation framework agreement in Lhasa City, Tibet. And after signing the agreement, the Ministry of Land and Resources provided the policy support in time for the project. The Ministry of Land and Resources Exploration Division, China Geological Survey, Technical Guidance Center actively provided technical support and information service. These all promoted the seamless docking between the public geological work and the commercial geological work. People’s Government in Tibet Autonomous Region, the Office of Land and Resources, the Ali Prefectural Party Committee and Administrative took the initiative to coordinate the relationship among the parties, creating a favorable environment for the project implementation. As the main business investment, Aluminum Corp. of China and Sichuan HTC Group Co. Ltd. continued to increase the intensity of investment, accelerating exploration on the Tibetan Duolong ore integrated area.

Through more than a year of work, a new understanding and discovery had been made in this region. For example, it was confirmed that the Tiegelongnan deposit was Tibet’s first super large copper(gold) deposit with low temperature. Considering the characteristics of ore deposit and the scale of ore body, the Tiegelongnan ore deposit bore a high comparability with Zijinshan copper gold deposit in Fujian, and the Tiegelongnan ore deposit was the “second” super large scale high sulfur epithermal deposit in our country. In addition, there was a great potential in looking for this kind of deposit in peripheral area, the Gaerqin and Dibaonamugang would be the key areas of prospecting breakthrough in the next step. There existed ore combination of “three-in-one” in the whole Duolong ore integrated area, that is, the porphyry type, breccia type and hypabyssal epithermal type.

Zhong Ziran, chief engineer of Ministry of Land and Resources, attended the meeting. At the meeting, Chen Yuchuan, an academician of Chinese Academy of Engineering, Duo Ji and other experts praised the prospecting result of Duolong integrated exploration area as “exceeding the expectation” and “feel excited”, and they thought that there was still a great ore prospecting potential in this area. Some experts even suggested that the 10 years’ prospecting was expected to reach 30,000,000 tons of copper and 1,000 tons of associated gold in this area.

To make the copper and gold base become a “world class”, it’s necessary for geological workers to put into more hardship and effort. To this, the experts proposed that the next step should continue to do a good job in organizing the work implementation, concentrate personnel strength, and increase the equipment support; further carry out geophysical exploration work, intensify the comprehensive research and deepen the research on strategic selection to systematically know and comb the whole Nujiang metallogenic belt and continuously optimize the important prospect area and prospecting target area; make deployment planning, strengthen the anomalies verification and carry out the necessary drilling verification to realize the combination of industry-learning-research with production and promote the greater breakthrough in prospecting.

“And also embark on the related matters of the development of mineral resources, perform the unified deployment and strive to serve the local economic development.” many experts recommended at the meeting. (Wang Min) (Translated by TLRHVC)

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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on October 20-23, 2014. We invite you to join the event and to celebrate the 16th anniversary of CHINA MINING with us. For more information about CHINA MINING 2014, please visit: www.chinaminingtj.org.

Remarkable achievements in old mine prospecting with a promising future: discovery of mines in 54 out of 68 exploration projects established in 2012

Source: www.mlr.gov.cn   Citation: www.gtzyb.com   Date: Dec.16, 2013

The old mine prospecting had obtained remarkable achievements with a promising future. Recently, the Ministry of Land and Resources held an on-site communication seminar on Qixia Mountain lead-zinc mine prospecting achievements in Nanjing. The reporter learned from the seminar that 54 out of 68 exploration projects established in 2012 were confirmed to have discovered mines, among which the newly increased resources had amounted to large scales in 9 projects. 

The old mine prospecting formed an essential part of the strategic action in prospecting breakthrough and a continuation of replacement resources prospecting in the national crisis mines as well. Since its launch in 2012, the Ministry of Land and Resources had vigorously promoted it. It is reported that 126 old mine prospecting projects had been implemented nationwide, putting into 6.42 million RMB of the central fiscal capital and pulling 670 million RMB from the local finance and business matching funds. 54 projects were verified to have discovered mines among 68 exploration projects set up in 2012 and a major breakthrough had been made in a batch of deep and periphery prospecting in mines. The new resources in 9 projects had reached to a large scale, such as Zaozigou gold mine in Gansu province, Baiyun gold mine in Liaoning province and Laowan gold mine in Henan province and the newly increased resources in another 9 projects had amounted to medium size, for example, Luobusha chromite mine in Tibet, Pingshui copper mine in Zhejiang province and Jinchangyu gold mine in Hebei province. (Wang Shaoyong) (Translated by TLRHVC)

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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on October 20-23, 2014. We invite you to join the event and to celebrate the 16th anniversary of CHINA MINING with us. For more information about CHINA MINING 2014, please visit: www.chinaminingtj.org.

China’s biggest overseas copper mine project in Peru: about 12 million tons of resources, accounting for 19% of the total domestic copper resources

Source: www.mlr.gov.cnCitation: www.chinamining.com.cn   Date:Dec.16,2013

The reporter learned from Chalco on 11^th, December that Chalco Peru Toromocho copper mine production ceremony, China’s biggest overseas copper mine project, was held in Lima, capital of Peru. This marked that the biggest single copper processing production line was put into operation in the world.

It’s learned that as the biggest single mining project in Peru, the copper resources giant, Chalco Peru Toromocho copper mine ranked the shortest in construction cycle and the highest in equipment level among the same-sized copper mine projects in the world. It was the largest mining project in Peru in recent years. The mine had a possession of about 12 million tons of copper resources, accounting for about 19% of the total domestic copper resources in our country. The project planned to have an annual output of 220,000 tons of copper concentrate, taking a proportion of about 18% of its own domestic production in our country and entered the global top 20 copper mines with more than 30 service years, which would effectively relieve the supply shortage of copper resources and copper concentrates in our country.

It’s reported that Chalco Peru Toromocho copper mine adopted the internationally advanced EPCM construction model for the first time with a number of world-class equipments such as the world’s largest excavator, mining truck, semi-autogenous mill, ball mill, the flotation machine system and so on. Its design, construction and the cost control level took the world’s leading position and the indicators became the new benchmark for global copper project. The project’s production cost was expected to be lower than that of more than 75% copper mines due to the resources endowment, the excellent project design and construction level, the advanced operating mode and management level.

Chalco Peru Toromocho copper mine was a typical success case in China’s investment overseas and a sample project for Chinese enterprises to “go out”. In 2007, the acquisition of Peru mining company enabled Chalco to acquire the world super large copper mine---tens of millions of tons of copper mine in Toromocho located in Peru. During the course of construction and development of Chalco Peru Toromocho copper mine, the export-import bank of China and China development bank had offered substantial supports and helps for the project, creating a positive environment for the smooth operation of the project.

Mr. Xiong Weiping, chairman of Chalco, said that Chalco would vehemently fulfill the social responsibilities and commitments in the future to seek development while improving the local residents’ employment, protecting the local ecological environment and sharing the development fruits with the local residents in the long term. He also hoped that Chalco Peru Toromocho copper mine project would be a model for Sino-Peru cooperation, better promoting the local social and economic development. (Wang Min) (Translated by TLRHVC)

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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on October 20-23, 2014. We invite you to join the event and to celebrate the 16th anniversary of CHINA MINING with us. For more information about CHINA MINING 2014, please visit: www.chinaminingtj.org.

Platinum price surpasses the gold’s; gold investment may be
negative for the first time in thirteen years

Source: www.mlr.gov.cn   Citation: www.chinamining.com.cn   Date: Nov.25, 2013

The constantly declining price of gold could make gold investment income negative for the first time in 13 years.

Since this year, the price of gold had fallen by more than 20%. In the precious metals, except for a big drop in gold and silver, the price of platinum and palladium did not show obvious signs of decline and at present, the price of platinum had exceeded that of gold.

Citigroup recently released a report that the average price of gold in 2014 is expected to be at 1255 U.S. dollars per ounce. And the price of gold would fall sharply this year for market expectation on Federal Reserve starting to cut loose policy, but the vehement demand from China would give the gold price support to some extent. However, in precious metals, it would be particularly optimistic on the prospect of the palladium price.

Citibank said, it was expected that the palladium investment demand would continue to rise, promoting the palladium price close to 900 U.S. dollars per ounce before the end of 2014. And the average price of palladium would be at 850 U.S. dollars per ounce during 4^th quarter in 2014.

Citibank said that the average price of platinum was expected to be at 1525 U.S. dollars per ounce during 4^th quarter in 2014. And compared with the current price level, it would rise by about 5%. The platinum price was forecasted to be at 1500 U.S. dollars per ounce in 2014.

Previously, the report on the trend of gold demand during 3rd quarter in 2013, published by the World Gold Council, showed that the overall demand on gold was nearly 869 tons in 3^rd quarter in the world and this was 21% year-on-year decline. Since this year, the gold demand in the world fell by 12% in year-on-year state, and the decline in demand was mainly due to the considerable reduction in the gold ETF holding.

Since American economy showed obvious warmer signs, investors expected that the USA quantitative loose policy would exit beforehand and so, they reduced the ETF position. The data from the World Gold Council showed that after the gold ETF reduced 402 net tons in the 2^nd quarter, the gold ETF in 3^rd continued to reduce to 119 tons’ position. And in the first 9 months of this year, the gold ETF reduced nearly 700 tons.

Up to now, in terms of the world’s largest gold ETF(Exchange Traded Fund) ——SPDR Gold Trust GLD, its gold holdings were reduced to 863 tons and hit the lowest once again since February 2009.

The Federal Reserve’s monetary policy was still the biggest factor that influenced the gold market. Both organizations and individual investors, the concern about the uncertain increase in interest rates from the Federal Reserve also deepened the worry about the trend of gold. And this had a direct impact on the changes in the holdings of the gold ETF as well as the physical gold demands from Asian investors.

However, Bernanke, the Federal Reserve Chairman, said recently that if necessary, the Federal Reserve would still maintain the ultra loose monetary policy. And only with a guarantee that the job market continued to be improved, would the Federal Reserve begin to cut debt purchase. Even if the unemployment rate dropped to below 6.5%, the federal funds rate also may still be maintained at near zero.

Bernanke also pointed out, the target of the 6.5% unemployment rate was only a threshold, not the trigger mechanism for increasing interest rates. And in judging the employment market prospects, the cumulative progress since September 2012 and the future prospects in continuous improvement would be taken into account.

However, the comments on backing the loose policy from Bernanke did not bring temporary buying for the already weak gold market. The analysis from the standard bank showed that only with a physical gold demand in short-term could not propel the gold price to continuously rise. The main reason was that the expectation on Federal Reserve’s exiting from loose policy continued to rise in the market.

What is noteworthy was that the holdings outflow rate of gold ETF had obviously slowed down compared with that of the first half of the year. The latest report from Deutsch Bank showed that the price of gold would rise in short-term if the outflows rate on gold ETF fund slowed down or was gradually stable. But the gains would be very limited, and the prospect of gold price was not optimistic. (Yang Liuhan) (Translated by TLRHVC)

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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on October 20-23, 2014. We invite you to join the event and to celebrate the 16th anniversary of CHINA MINING with us. For more information about CHINA MINING 2014, please visit: www.chinaminingtj.org.

China’s first discovery of gold in sulfur-nickel-cobalt ore

Source: www.mlr.gov.cn  Citation: www.gtzyb.com   Date:Oct.11, 2013

Recently, the Armed Police Gold team discovered a new type of gold bearing mineral, namely, sulfur-nickel-cobalt ore at a copper-gold deposit located in Jinchang, Heilongjiang Province. As the first of its kind in the world, this discovery filled the blank in gold prospecting field.

The useful elements in sulfur-nickel-cobalt ore are cobalt and nickel. The two elements are important raw materials for the production of heat-resistant, hard, anti-corrosion, magnetic alloys, and important strategic materials widely used in aviation, aerospace and machinery manufacturing.

Sulfur-nickel-cobalt ore, as the gold bearing minerals, mainly lies in the deep part of porphyry ore body in which the average purity of natural gold is generally higher than that in other gold bearing minerals. The studies prove that gold can also be mineralized in high temperature and deep-layer environment, bearing a strong theoretical and practical guiding significance in widening the gold prospecting work.

Jinchang mining area, located in the southeastern part of Heilongjiang Province, was a super large gold deposit exploration base and a key scientific research base of the Armed Police force of gold. At the end of the 20^th century, the Armed Police Gold team entered the mining area and currently explored 23 ore bodies with industrial value and 4 mineralized bodies and proved more than 80 tons of gold reserves. Research results showed that the deep part of copper-gold deposit still had a fairly bright prospecting future and the scale of the ore deposits can be further expanded. (Zhao Hongliu / Yu Tao) (Translated by TLRHVC)

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 2013 will be held at Meijiang Convention and Exhibition Center in Tianjin on November2-5, 2013. We invite you to join the event and to celebrate the 15th anniversary of CHINA MINING with us. For more information about CHINA MINING 2013, please visit: www.chinaminingtj.org.