en_矿业资讯

PetroChina net profit tumbles 78 pct in 2016

Source: www.chinamining.org     Citation: Xinhua          Date: March 31, 2017

PetroChina, China`s largest oil and gas producer, reported Thursday a 77.9-percent year-on-year plunge in net profits last year due to low oil and gas prices. 

Profit attributable to owners of the company totaled 7.9 billion yuan (around 1.1 billion U.S. dollars) in 2016, according to results released by PetroChina in line with international financial reporting standards. 

Revenue dropped 6.3 percent year on year to 1.6 trillion yuan, the company said, attributing the revenue decrease to falling oil and gas prices. 

The company saw crude oil output slip 5.3 percent year on year to 921 million barrels in 2016 and marketable natural gas output rise 4.6 percent to 3.3 trillion cubic feet. 

It plans to further reduce crude oil output to 879 million barrels this year, while keeping gas production at approximately the same level as last year. 

Despite the sharply lower profits, PetroChina saw its shares edge up by 0.13 percent in Shanghai and 0.17 percent in Hong Kong on Thursday.

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 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

Oil imports through Sino-Kazakh pipeline hit 100 mln tons

Source: www.chinamining.org     Citation: Xinhua       Date: March 31, 2017

Oil imports from Kazakhstan to China through a land pipeline hit the 100-million-ton mark Wednesday, the pipeline operator said.

"The safe operation of the pipeline has ensured diverse export channels for Kazakhstan, and also ensured stable energy supply to western regions of China," said Meng Fanchun, general manager of the Central Asia Pipeline Company of China National Petroleum Corporation. 

The pipeline runs 2,800 kilometers from the city of Atyrau to Atasu, in Kazakhstan, via the Alataw pass in Xinjiang Uygur Autonomous Region, to the PetroChina Dushanzi Petrochemical Company, one of China`s major petrochemical producers. 

Operation started in 2006. Crude oil arriving in China through the pipeline is so far worth 60 billion U.S. dollars, according to Meng. 

The oil is transported to refineries in Xinjiang, Sichuan and Gansu. 

By the end of last year, the pipeline company had paid about 350 million U.S. dollars of fees and taxes to Kazakhstan, the company 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 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

Newly discovered mine expected to be China`s largest-ever gold reserve

Source: www.chinamining.org     Citation: China Daily         Date: March 30, 2017

China has detected a gold mine with estimated reserves of 550 metric tons in the eastern province of Shandong, a major gold producer has announced. 

A total of 382.58 tons of gold reserves have been located at the Xiling gold mine in the Laizhou-Zhaoyuan region, according to Shandong Gold Group, one of the top-three gold producers in the country. 

The volume of gold could reach more than 550 tons once exploration is completed in two years, with a potential value of more than 150 billion yuan ($21.8 billion), which would make Xiling the largest-ever gold reserve mine in China, according to the group. 

The Laizhou-Zhaoyuan region is one of the largest gold production areas in China, with gold reserves and output in the region ranking first in the country.

Chen Yumin, chairman of the group, said that the gold deposit at Xiling mine extends more than 2,000 meters and part of it has a thickness of 67 meters. The 382.58 tons of gold reserves have been detected to have an average gold grade of 4.52 grams per ton.

"The gold mine could potentially be exploited to process 10,000 tons of ore every day for about 40 years," Chen said.

Shandong Gold Group has spent 16 years exploring the mine with a total investment of 320 million yuan, according to the company.

The group aims to produce 55 tons of gold a year by 2020, according to the company`s development plan.

To achieve the goal, the company has to go overseas to explore other gold mines, Chen said.

Last year, the company conducted research in places such as Africa, North America and East Asia.

Statistics from the China Gold Association show that China produced 453.49 tons of gold in 2016, remaining the world`s largest gold producer for the 10th consecutive year.

China was also the biggest buyer of gold in the world for the fourth consecutive year, with gold consumption reaching 975.38 tons last year, down 6.74 percent compared with 2015.

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 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

Jiangxi Copper`s annual net profit rises for first time in 5 years

Source: www.chinamining.org     Citation: Reuters         Date: March 30, 2017

Jiangxi Copper Co Ltd , China`s biggest integrated copper producer, posted on Wednesday its first rise in annual net profit in five years, helped by cost controls and higher metal prices. 

Jiangxi Copper`s net profit rose 23.6 percent to 787.5 million yuan ($114.34 million) in 2016, it said in a filing to the Shanghai stock exchange. The last time the producer recorded a net profit rise was in 2011, according to company data on Eikon. 

"Even though non-ferrous metal prices were increasing steadily, there were still challenges in the market," Jiangxi Copper said. "However, we implemented a series of effective measures to resolve the issues to achieve our operational targets." 

China`s non-ferrous metals producers have been reporting better financial results in 2016, helped by recovering global prices, which rose by around 18 percent during the year, and the country`s increase in infrastructure building. 

This week, Yunnan Copper Co Ltd posted a 683.8 percent rise in 2016 net profit, mainly helped by cost cuts and increasing output. 

($1 = 6.8875 Chinese yuan renminbi) (Reporting by Lee Chyen Yee in Singapore and Twinnie Siu in Hong Kong; Editing by Mark Potter)

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 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

China`s commercial crude oil stocks down 1.4%

Source: www.chinamining.org     Citation: Xinhua       Date: March 28, 2017

China`s commercial crude oil inventory declined 1.4 percent month-on-month at the end of February due to lower imports and output. 

Net imports of crude oil dropped 5.4 percent in February, reducing stocks, and the amount of oil refined also declined.

Despite a sharp rise in exports, diesel reserves rose significantly as a result of weak demand after the Spring Festival holiday. 

Gasoline stocks also rose slightly due to flat demand.

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 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

China`s MIIT forecasts 4.8% rise in nonferrous metals output for 2017

Source: www.chinamining.org         Citation: Platts      Date: March 27, 2017

China`s production of major nonferrous metals such as copper, aluminum, lead and zinc is expected to grow by 4.8% year on year in 2017, which is equivalent to 55.37 million mt, according to a post made by the Ministry of Industry and Information Technology late Friday. 

MIIT disclosed that for the nonferrous metals sector, excess capacity cuts, and restructuring, optimization and concentration of metals producers in China would remain among the core tasks for this year. The ministry did not mention any more details. 

Nevertheless, aluminum could be one of the primary targets among the metals, as China`s central government has always been listing aluminum together with steel, coal, glass and cement when addressing industries that have serious levels of overcapacity. 

The production projection more or less matched MIIT`s prediction of a 4.1% average annual increase in apparent consumption of the metals nationwide over the 13th Five Year Plan period of 2016-2020, or six percentage points lower than the 12th Five Year Plan period of 2011-2015.

Last year, China`s production of the ten major metals grew by 2.5% year on year to 52.83 million mt, among which, primary aluminum was up 1.3% year on year to 31.87 million mt, zinc was up 2% to 6.27 million mt, lead was up 5.7% year on year to 4.67 million mt, and refined copper accounted for 8.44 million mt, up 6% year on year. 

And by 2020, China`s consumption of the ten metals is expected to reach 68 million mt, the ministry had said late last year. 

Over 2016-2020, China`s demand for refined copper is expected to grow by 3.3%, or 5.6 percentage points lower than the previous five years, aluminum up 5.2%, down 9.2 percentage points, while lead consumption increase is expected to stabilize at around 0.6%, and zinc at about 1.7%. 

Consumption of lithium and cobalt are expected to grow at 13.5% and 12.5%, respectively, over 2016-2020, as these are the new materials for manufacturing batteries.

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 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

Guinea, China to take measures to enhance ties

Source: www.chinamining.org         Citation: Xinhua       Date: March 23, 2017

Guinean President Alpha Conde and visiting Chinese State Councilor Yang Jiechi agreed on Wednesday to take concrete measures to enhance bilateral relations.

During their meeting, Yang conveyed Chinese President Xi Jinping`s greetings to President Conde. 

During their talks, Yang said his visit to Guinea is aimed at implementing the consensus reached by the leaders of the two countries and outcomes of the Forum on China-Africa summit held in Johannesburg so as to further promote Sino-Guinean cooperation and bring more benefits to the two peoples. 

China will do its best to enhance the two countries` friendly and mutually beneficial cooperation in various fields, Yang said. 

China encourages and supports its enterprises to explore in-depth joint schemes that will benefit both sides, striving to achieve more concrete and fruitful outcomes while taking advantage of the mutual political trust and economic complementarity between the two countries, Yang added. 

The Chinese State Councilor also congratulated the Guinean President on his election as rotating chairman of the African Union (AU). 

As Africa`s sincere cooperative partner, China supports Conde for fulfilling his duties as AU chairman and playing a greater role in maintaining African unity and promoting peace and development in Africa, said Yang. 

For his part, President Conde asked Yang to extend his warm greetings to President Xi, expressing gratitude to the Chinese president for valuing Guinea-China relations as well as for the vigorous support China has provided to Guinea for a long time. 

Guinea hopes to continue working with China on deepening mutually beneficial cooperation in energy, resource, agriculture, infrastructure and human resource development and other areas, said Conde. 

Guinea welcomes investment from Chinese enterprises, said Conde, adding that such investment will help Guinea enhance its capacity to realize sustainable development and speed up socioeconomic growth.

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 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

China eyes 4.4 mil mt 2020 recycled copper, 9 mil mt aluminum output

Source: www.chinamining.org     Citation: Platts         Date: March 22, 2017

China is aiming to produce 4.4 million mt recycled copper and and 9 million mt of recycled aluminum by 2020, in line with the central government`s goal of using more recycled resources to be eco-friendly, the Henan Provincial Nonferrous Metals Guild said in a report in its website Tuesday. 

Henan Provincial Nonferrous Metals Guild, a metals industry association, with over 100 member producers, advises the government on nonferrous metal industry policy, laws and does metal research. 

The 2020 output target is 44% and 57% higher than realized recycled copper and recycled aluminum output of 3.05 million mt and 5.75 million mt in 2015. The 2016 data is not yet available. 

The guild said China set output goals of 2.5 million mt for recycled lead and 2.1 million mt for recycled zinc by 2020, which is 67% and 53% more than realized output of 1.5 million mt and 1.37 million mt back in 2015.

Figures from the guild showed that China set recycled nonferrous metals production goal of 18 million mt by 2020, up 54% from realized output of 11.67 million mt in 2015. 

The higher recycled nonferrous metals output is to keep in line with the the Ministry of Industry and Information Technology, Ministry of Commerce and Ministry of Science and Technology`s guidance notes for speeding up growth in the mainland Chinese recycled resources sector, the guild said. 

China`s is forecast to utilize recycled resources of 350 million mt by 2020, according to MIIT. 

The growing Chinese recycled metal sector has greatly eased the supply and demand imbalance in primary metal resources, helping the country set up a circular economy, cutting emissions and saving energy, according to MIIT.

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 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.