en_矿业资讯

                                   Hanlong courts Chinese steel majors to help develop African iron ore project      
                                                                      Source: www.chinamining.org  Citation: Platts  Date:Jan.25, 2013 China`s Hanlong Group has approached Hebei Iron & Steel and Wuhan Iron & Steel about investing in the $4.7 billion Mbalam iron ore project in central Africa, which Hanlong is set to acquire through its takeover of Australia`s Sundance Resources, a company official said Thursday.

The Hanlong official confirmed the company had spoken to the Chinese steel giants about helping to develop Mbalam, which straddles the border between the Republic of Congo and Cameroon, and requires significant new mine, port and rail infrastructure. It is expected to eventually produce 35 million mt/year of direct shipping ore.

But Hanlong has to firstly complete the A$1.4 billion ($1.5 billion) acquisition of Western Australia-based Sundance, a deal which is being funded by China Development Bank.

Sundance head of investor relations Jill Thomas would not comment specifically on the prospective involvement of the Chinese mills, other than to say it was "a matter for Hanlong."

The Perth-based official said Sundance was still working towards the completion of the takeover, which "should be wrapped up by the end of February or March 1."

Wuhan already owns iron ore assets in Liberia and Madagascar, as well as in Australia, Canada and Brazil. An official in Wuhan`s investment department would not confirm the mill`s interest in the Mbalam project.

Last month China`s National Development and Reform Commission said the country must continue to invest in overseas iron ore projects to meet growing demand for the steelmaking material over the next decade.

A Beijing-based steel analyst was skeptical that Wuhan would be in a position to invest in the Mbalam project, saying its other African projects and prospective 10 million mt/year greenfield integrated steel project in China`s Guangxi province would be highly capital intensive.

He also pointed to unsuccessful investments by Chinese companies in overseas iron ore projects, most notably CITIC`s Sino Iron magnetite project in Western Australia.

"Such investments may have scared off Chinese investors; plus Africa is also troubled by political instability, which will not guarantee a good investment environment," he said.

A Melbourne-based mining source said it was "difficult to think of a single successful Chinese iron ore project outside of China."

Hebei and Wuhan were ranked number two and five respectively in the World Steel Association`s list of top global steel producers in 2011.

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 November 2-5, 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.  

                                                     Iron ore seen weak on lean Chinese demand    
                                                               Source: www.chinamining.org  Citation: Reuters  Date:Jan.21, 2013 Spot iron ore prices may be headed for more weakness this week amid lean demand from top buyer China, although expectations of tight supplies during the first quarter should keep losses in check.

Iron ore prices fell for the first time in seven weeks last week after a surge that pushed them to 15-month highs prompted Chinese mills to step back after aggressively replenishing stocks since December.

"Mills are not in the mood to buy anything at the moment.

They are probably waiting for prices to fall further before they go back to the market," said a physical iron ore trader in Shanghai.

A 165,000-tonne cargo of 61-percent grade Australian Pilbara iron ore fines was sold on Monday on the trading platform run by China Beijing International Mining Exchange at $146 a tonne, up about a dollar from a previous tender for the same grade, the trader said.

It was not clear if a Chinese steel mill bought the cargo, but the modest price increase may not necessarily be repeated in other physical deals, traders said.

"We see strong support for prices at $140. Some traders are also not willing to sell if prices drop so much, especially if the cargo is not for immediate delivery. They have time to wait for a better bid," said another trader in Shanghai.

Miner BHP Billiton is selling 50,000 tonnes of 58.5-percent grade iron ore fines at a tender closing on Tuesday, traders said.

Iron ore with 62 percent iron content , the industry benchmark, slipped 0.2 percent to $145.10 a tonne on Friday, the lowest since Jan. 2, according to data provider Steel Index.

The price fell 6.3 percent last week, but remains 67 percent higher than the three-year lows touched in September.

Weaker steel prices in China, the world`s No. 1 consumer and producer, also curbed appetite for iron ore.

The price of steel billet in China`s key Tangshan area fell by 50-70 yuan ($8-$11) a tonne last week amid slower sales, traders said.

On Monday, the most-traded rebar contract for May delivery on the Shanghai Futures Exchange fell nearly 1 percent to close at 3,965 yuan a tonne, pulling further away from a six-month peak of 4,047 yuan hit on Jan. 7.

But tight iron ore supplies, partly due to weather risks in top exporter Australia and a likely spike in China`s crude steel output to tap into a strong construction season in March should support iron ore prices, said bulk-commodity sales executive Melinda Moore at Standard Bank.

"While a number of mills are trying to downplay their recent restocking panic, suggesting they have 30-40 days supply on hand, we would argue that with March output rates likely to be up by 6-10 percent versus January, they are far from overstocked.

"Given the additional threat of future weather woes, particularly the eye of the Australian cyclone season hitting in February, most mills need to be carrying additional stocks for protection. This is certainly not the time of the year to initiate a destock," Moore said in a note.

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 November 2-5, 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.  

                                             Minmetals looking for $1bn nickel buy: Andrew Michelmore      
                                                              Source: www.chinamining.org  Citation: The Australian  Date:Jan.07, 2013 After nearly a year bedding down the $1.3 billion acquisition of copper company Anvil Mining, Minmetals Resources chief Andrew Michelmore feels both his company and asset valuations are in the right place for another $1bn-plus base metals purchase.

And a quality nickel operation is sitting high on the wish list.

Mr Michelmore said MMG was now in a better position to pursue another big purchase after last year was spent dedicating resources to the integration of Congo copper play Anvil.

"Realistically you can probably only do one a year, and if we`d done another it would have stretched our people too much," he said.

Mr Michelmore plans to aggressively grow MMG, which in 2011 was outbid by Barrick Gold in a $7bn tussle for Equinox Mining that subsequently cost the Barrick boss his job, but said Anvil is probably about as small an acquisition as he wants to do.

"From a year ago, when expectations around prices were very high, the market has come back to where we would see things as more like reasonable value," he said.

The head of the Melbourne-based, Hong Kong-listed and Chinese-controlled miner said while there were certain countries MMG would not enter, the company was looking for base metals targets all over the globe, including in the Americas, Africa and Australia.

And while the nickel business is regarded as one of the tougher places to turn a profit in today`s mining sector, the former WMC Resources boss is keen to diversify production in that direction.

"We now have a good balance between zinc and copper, we like both those metals and we`d like to add a third wedge in there to have three good blocks of base metal commodities in our portfolio to get diversification," Mr Michelmore said.

When asked what base metals appealed, nickel was named.

"We like nickel sulphides, not nickel laterites -- there`s a lot of that around but we don`t have the expertise and it`s very expensive, capital wise," he said.

"But a good nickel sulphide is always going to be good."

Laterite mines, such as BHP Billiton`s Raventhorpe operation in WA that was sold to First Quantum for a fraction of its $2bn development cost, require extensive processing of ore at high temperatures and pressures and have a history of going awry.

To date, MMG`s nickel designs have been limited to exploration programs it has embarked on in Africa, Canada and the US.

Despite the desire to get into nickel, there are no plans to start the mothballed Avebury nickel mine in Tasmania that was closed in 2008.

An informal sale process for the mine has been ongoing, with no buyers to date, and Avebury, which was planning to produce 8500 tonnes a year of nickel, is too small compared with the assets MMG wants to operate.

MMG`s interest in getting further into nickel comes as BHP is under increasing pressure to sell the West Australian nickel business it bought in 2004 when it acquired Mr Michelmore`s WMC.

MMG is targeting assets that are yet to start production or have recently started, meaning the long-running BHP nickel assets have little chance of coming back under the control of Mr Michelmore.

Mr Michelmore has not been surprised by the apparent strengthening in China, which last year he predicted would happen after the leadership change.

"I think the Western world is starting to realise China hasn`t fallen in a hole -- for me, I`m thinking `what`s taken you so long?`."

Mr Michelmore is also tipping a recovery in the US this year.

"I think as the confidence picks up in the US, US investors will pull their money out of Australia, out of equities; that will dump the Australian dollar," he said.

"It will be interesting to see whether it dumps the stockmarket as well.

"I think we`ve been living on the hog for too long with an unreasonably high exchange rate and high labour costs and I think when it turns we`re going to find it pretty difficult."

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 November 2-5, 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.  

                                                 China to increase development of natural gas sources 
                                                                 Source: www.chinamining.org  Citation: China Daily  Date: Dec.04, 2012 China will establish four natural-gas blocks and produce shale gas for commercial purposes by the end of 2015, the National Energy Administration said on Monday.

The country will move faster to develop both natural gas and shale gas to maintain its domestic supply of the fuel, the administration said in the country`s 12th Five-Year Plan (2011-15) on the natural-gas industry.

[Tong Jiang / China Daily]A natural gas production plant in Puyang, Henan province. According to the latest figures from the Ministry of Land and Resources, China has 134.42 trillion cubic meters of shale gas in its reserves.

It said each of the four blocks will be capable of producing 20 billion cubic meters of natural gas a year by the end of 2015.

The country plans to be producing natural gas on a commercial scale at its 19 current shale-gas blocks by the same year.

China`s output of natural gas has risen quickly amid the country`s increasing demand for the resource, said Yu Baocai, deputy general manager of China National Petroleum Corp.

He estimated China will be producing 200 billion cubic meters of natural gas a year before 2020.

The country is expected to use about 147.68 billion cubic meters of the gas this year, according to the energy information consultancy ICIS C1 Energy.

Huang Qing, information manager at C1, said natural gas is the source of only about 4 percent of the energy used in the country, which is far less than in developed economies.

She said infrastructure construction will have China using about 350 billion cubic meters of natural gas a year by 2020.

"China`s increasing work to develop shale gas is also meant to ensure there is enough gas to supply the country`s increasing demand for energy," she said.

According to the latest figures from the Ministry of Land and Resources, China has 134.42 trillion cubic meters of shale gas in its reserves. But outside of the Qinghai and Tibetan Plateau, only up to 2.51 trillion cubic meters of those resources are exploitable.

"China is still at the beginning stage of shale-gas development, but it has already attracted many investors to the industry," Huang said. "If it succeeds, it will see huge profits, but there will also have to be large investments and large risks."

The country`s 12th Five-Year Plan for the natural-gas industry said the industry is now regulated by an incomplete set of rules. It also said the country can ensure gas services are provided fairly by strengthening its supervision of companies that operate gas pipelines.

The country`s two oil and gas giants - China National Petroleum Corp and China Petrochemical Corp - own the rights to build, manage and operate most of the country`s pipelines.

Analyst said it is possible the gas industry plan will lead to reforms that help to break up their near-monopoly.

"To further these reforms, the government will ensure conditions are good for competition," the administration said in the plan.

"Although China`s natural-gas reserves offer huge opportunities, exploration is affected by the shortage of competition," the plan said. "There is also a need for policies that support shale-gas exploration."

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 November 2-5, 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.  

                                                      China to boost land reclamation in mining areas 
                                           Source: www.chinamining.org  Citation: Xinhua  Date: Dec.03, 2012 The Ministry of Land and Resources is expected to issue specific measures to facilitate the implementation of a regulation to reclaim land, especially in mining areas.

The specific measures have finished collecting public opinion and are expected to help implement the Land Restoration Regulation, said Liu Yanping, deputy chief engineer of the law center under the Ministry of Land and Resources, on Thursday at an ecological restoration forum.

China passed the Land Restoration Regulation in February last year.

China`s 1,500-plus mining districts occupy about about 2 million hectares of land, and the figure is expanding by 33,000 to 47,000 hectares annually, Liu said.

But the land reclamation ratio is merely 15 percent, far below the international level, which mainly stands at around 50 to 70 percent, Liu said.

Land destroyed near coal mines makes up about 80 percent of the total ruined by all kinds of mining. Thus, future efforts will mainly focus on coal mine areas, said Hu Zhenqi, secretary general of the land reclamation and ecological restoration committee of the China Coal Society.

The report to the 18th National Congress of the Communist Party of China emphasized the importance of ecological progress and advocated the building of a "beautiful" China in the country`s overall development plan.

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 November 2-5, 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.  

                                                China to raise environmental bar for mining projects: Assn   
                                                                    Source: www.chinamining.org  Citation: Reuters  Date: Oct.30, 2012 

China is expected to issue new guidelines by the end of the year to encourage metals miners to conserve domestic resources and protect the environment, a director at the China Nonferrous Metals Industry Association said on Tuesday.

Hu Changping, director of heavy metals at the association, said Beijing aims to tighten the requirements on firms allowed to mine metals and will announce the guidelines before the end of this year.

"Copper, lead and zinc mines will be included," Hu told Reuters on the sidelines of an industry conference in Xiamen, in the southeastern province of Fujian.

Authorised firms would be required to submit mining project proposals to the Ministry of Land and Resources and also receive approval from environmental authorities. No other details of the scope of the guidelines were immediately available.

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 2012 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 3-6, 2012. We invite you to join the event and to celebrate the 14th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2012, please visit: www.chinaminingtj.org.  

                                           China`s 10 nonferrous metal output up 7.1% in Jan-Sep   
                                                     Source: www.chinamining.org  Citation: China Knowledge  Date: Oct.25, 2012 The combined output of the ten nonferrous metals rose 7.1% YoY to 27.26 million metric tons in the first nine months of this year, according to the latest statistics released by the National Development and Reform Commission.

The output of aluminum electrolytic rose 10.6% YoY to 14.77 million metric tons in the nine-month period. The output of copper and alumina continue to see slower growth of 7.4% and 9.8%, respectively.

The output of lead rose 11.1% YoY in the period, after increasing 15.1% in the first nine months of 2011. The output of zinc saw decline of 6.2% YoY, after recording YoY growth of 3.5% in the same period of last year.

In September, the prices of major nonferrous metals remained flat from a month earlier. The average prices of copper and zinc futures on the Shanghai Futures Exchange stood at RMB 56,459 and RMB 14,755 per metric ton, up 2.2% and 1% from the previous month, or down 15.9% and 12.2% YoY, respectively. The average price of aluminum electrolytic was steady at RMB 15,462 per metric ton, down 0.1% MoM and 12.2% YoY.

In the first eight months, the nonferrous metal industry realized RMB 111.5 billion in profit, reflecting a decline of 21% YoY. The profit of nonferrous metal mining and dressing sector decreased 4.8% YoY to RMB 44.4 billion, while that of the nonferrous metal smelting and processing sector fell 29% to RMB 67.1 billion.

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 2012 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 3-6, 2012. We invite you to join the event and to celebrate the 14th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2012, please visit: www.chinaminingtj.org.  

                                                            Mining slump, China`s M&As to the rescue  
                                                                   Source: www.chinamining.org  Citation: China Daily  Date: Oct.18, 2012 The mining sector had enjoyed ten glorious years of soaring commodity prices and even higher demand. Yet, this was never guaranteed to last forever, as the sector would inevitably succumb to the ups and downs of the global economy.

As miners experience a sudden downturn, they should adapt to a new era of cutting costs, take less risks and debts, while mergers and acquisitions, or M&As, would become more of a necessity for some companies.

Mega mining giants have already anticipated a shift in their fortunes. According to the Sydney Morning Herald, miners have scaled back "on expansion plans and cut costs, with top global miner BHP Billiton shedding jobs in its most profitable iron ore business and rival Rio Tinto also deepening a cost-cutting program across its back office."

"Everyone`s back to square one. We can deliver outcomes, but you`ve got to reduce your costs and manage your business," Australian Resources and Energy Minister Martin Ferguson said to Reuters.

Tom Albanese, chief executive of Rio Tinto, told the Financial Times, "we have seen contractor rates in particular starting to go down, rolling back some of the unsustainable cost increases of recent years."

A new phase for miners could offer opportunities for Chinese companies to emerge as stronger competitors.

Pricewaterhouse Coopers (PwC) reports, "the number of Chinese-led mining merger and acquisition deals nearly doubled in the first half of 2012, despite the slowdown in the world`s second largest economy."

"China accounted for 13 percent of all mining M&A deals completed in the first half of the year, against 7 percent in the same period last year," according to PwC.

The downturn of the mining sector could create better buying opportunities for Chinese companies. Ken Sun, PwC China mining leader, believes that Chinese miners could see "overseas resource assets at attractive valuations" in North America, South America and Africa."

Sun added, "China`s miners have shown that despite the macro global challenges, they still have an appetite for doing deals abroad."

China has a population at over 1.3 billion and its annual GDP is expected to grow by nearly 8 percent this year. The country maintains strong demand for commodities, although it won`t be as strong as a year ago.

Hence, Chinese miners can play a pivotal role in sweeping up struggling mining companies into its operations to capture more global influence among their peers.

The London Metals Exchange has hinted at "reducing or eliminating barriers" for Chinese investors "to trade on the world`s largest metal exchange," as reported by the Chinese media.

Plans include: Hong kong Exchanges and Clearing Ltd (Hex) to offer new commodity offerings from the London Metal Exchange. The LME may also introduce renminbi clearing, and working the potential of renminbi denominated products, since the globalization of the RMB has been picking up pace.

The LME should have implemented these proposals a few years ago. China consumes approximately 60 percent of the world`s base metals. Nationwide demand for copper has increased by 16 percent annually in recent years.

Meanwhile, "China consumes 651 million tons of steel per year," according to a Chinese media report, "compared with 71 million tons in Japan and 95 million tons in the United States."

Such high demand for metals could not be sustainable, since China`s GDP had witnessed at or near double-digit annual growth rates in recent years. So it would seem that commodity prices might remain lower.

Nevertheless, the mining slump provides favorable circumstances for bargain hunters, which could spark a buyers` market for Chinese companies.

Perhaps the downward trend would serve a useful purpose. Labor and operational costs for miners had surged too high. Some companies were assuming greater risks and debts. A drop in commodity prices would change how mining companies conduct their business activities. It`s time for Chinese companies to adapt and dig into the changing miners` market as well.

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 2012 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 3-6, 2012. We invite you to join the event and to celebrate the 14th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2012, please visit: www.chinaminingtj.org.