China set to hit steel, coal capacity-cut targets early

Source: www.chinamining.org         Citation: Xinhua     Date: October 26, 2016

China will hopefully achieve its annual steel and coal capacity reduction goals ahead of schedule this year, the country`s top economic planner said on Tuesday, as local authorities have intensified efforts in recent months due to pressure from the central government.

By the end of September, China had accomplished over 80 percent of its goals for steel and coal production cuts, the National Development and Reform Commission (NDRC) told a press conference.   

China is the world`s largest producer and consumer of steel and coal. Cutting overcapacity is high on the central government`s reform agenda as the two industries have long been plagued by overcapacity and have become a major drag on China`s growth in recent years.   

The country has vowed to cut steel capacity by between 100 and 150 million tons by 2020, including 45 million tons in 2016. This year`s coal reduction target is 250 million tons.   

Capacity-cutting efforts have led to a recovery in both steel and coal prices. At the end of October 21, the steel composite price index stood at 79 points, up over 40 percent since the start of the year.   

The Bohai-Rim Steam-Coal Price Index, a benchmark index, rose to 577 yuan ($85.1) per ton last week, the highest since the start of the year.  

The price rises offered a broad positive in China`s struggle to tackle high corporate debt, with producer prices rising in September for the first time in nearly five years.  

The NDRC said it will continue efforts to shed unnecessary production capacity in steel and coal to facilitate structural overhaul in the long term.

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 19th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

Belt and Road lights up global growth

Source: www.chinamining.org         Citation: Xinhua    Date: October 24, 2016

Although the world has been mired in sluggish economic growth, countries along the Belt and Road Initiative are bucking the trend.

According to a report Wednesday by China`s National Bureau of Statistics, despite a slight decline of trade volume overall, China`s imports and exports with the Belt and Road countries have impressively increased over the last three quarters of 2016.   

China`s exports to Pakistan, Russia, Poland, Bangladesh and India have increased by 14.9 percent, 14 percent, 11.7 percent, 9.6 percent and 7.8 percent respectively, compared to last year`s numbers. China also continues to import more bulk commodities including iron ore, crude oil, coals and coppers from Belt and Road countries.   

Charles Onuaiju, director of Nigeria`s Center for China Studies in the capital Abuja, said that the Belt and Road is a model of global development that stresses inclusiveness and participation.   

Countries including Cambodia and Bangladesh have also connected their domestic development plans to the Belt and Road in a bid to bolster growth and explore further opportunities.  

Former Prime Minister of the Czech Republic Jiri Paroubek said the Belt and Road can accelerate the economic growth of many Eurasian countries and will also become a driving force for the overall development of the global economy. 

The Belt and Road Initiative refers to the Silk Road Economic Belt and the 21st-Century Maritime Silk Road initiative proposed by Chinese President Xi Jinping in 2013. The initiative brings together countries in Asia, Europe and Africa via overland and maritime networks.   

Trade between China and the Belt and Road countries exceeded $600 billion, 26 percent of China`s total foreign trade volume, during the first eight months of 2016, said Fang Aiqin, deputy head of China`s Ministry of Commerce.  

Investment and financing is another cornerstone of the Belt and Road plans.  

From January to August, China invested nearly $10 billion in countries along the Belt and Road through financial institutions including the Asian Infrastructure Investment Bank (AIIB) and the Silk Road Fund, according to the ministry. 

Preliminary estimates showed that loans provided by the AIIB were to the tune of $1.2 billion in 2016 and are expected to rise to $2.5 billion in 2017 and $3.5 billion in 2018.   

The New Development Bank (NDB) is another key institution for multilateral financial cooperation. The bank, jointly founded by China, Russia, Brazil, India and South Africa, officially opened in July, 2015 in Shanghai with an initial authorized capital of $100 billion.   

The bank has approved five investment projects in the area of clean energy, one in each member country, for a total of over $900 million, a fact sheet provided by the bank has shown.  

Also according to preliminary estimates, totals loan provided by the NDB are $1.5 billion to $2 billion, $2 billion to $2.5 billion and $4 billion to $5 billion for the years 2016, 2017 and 2018 respectively.  

Under these measures, Pakistan has witnessed a boom in infrastructure construction. The China-Pakistan economic corridor is regarded as the first chapter of the Belt and Road symphony. With the economic corridor at the center and the Gwadar Port, transport infrastructure, energy and industrial cooperation being another four key areas, a "1+4" cooperation structure is gradually taking shape.   

Pakistani Prime Minister Nawaz Sharif has said that the China-Pakistan economic corridor is a boon to the whole region and it will bring tangible benefits to the 3 billion people of China, Central Asia, South Asia and the Middle East.  

Many Belt and Road countries have also witnessed an increase in employment and decrease in poverty.   

Bilateral economic and trade cooperation between China and Bangladesh is a good example. An increasing number of Chinese investors have opened factories in the populous South Asian country, raising employment along with the training of personnel.  

The Belt and Road Initiative has only begun, and experts believe it will be further integrated into the global economy in the future.   

The initiative acknowledges people`s hopes for a better life and champions the diversity of values in the world, said Onuaiju, director at the China center in Abuja.   

Without any doubt, it will also promote world peace, stability and prosperity.

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 19th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

China and EU vow to tackle steel overproduction

Source: www.chinamining.org         Citation: chinadaily.com.cn     Date: October 20, 2016

Vice-Premier Ma Kai said on Tuesday the global economic slowdown was the main cause of the overcapacity of steel, something Beijing and Brussels will tackle together.

Ma said steel overcapacity is a global problem but noted that China made concerted efforts between 2011 and 2015 to cut its overcapacity.   

"We are determined to reduce steel overcapacity by 100-to-150 million tons during the 2016 to 2020 period," said Ma, who was co-chairing the annual EU-China High-level Economic and Trade Dialogue in Brussels, along with Jyrki Katainen, vice-president of the European Commission. "This amount roughly equals the total of European capacity."  

"I can tell you that we are going to reduce 50 million tons this year and we will complete this task," he said. "We have checked the numbers onsite and they are solid." 

Katainen said both sides followed up on the last summit`s agreement to establish a dedicated bilateral platform on steel and the Global Forum set up at the G20 summit in Hangzhou. 

More than 50 top executives representing the European steel industry have written to European Union leaders calling for tougher anti-dumping measures to deter what they regard as unfair competition from China. Their demands for a tougher US-style tariff regime will find an echo among some European leaders worried by the impact of imports of domestic plants and jobs. But once again Britain, facing negotiations on the terms of its exit from the EU, is likely to be the odd man out.   

The UK has consistently said it backs China`s claim to market economy status.

Britain has in the past been among those blocking proposed toughening anti-dumping measures, despite the challenges currently confronting the UK steel industry. In March, unnamed senior EU officials were quoted as saying Britain had blocked attempts to reform EU anti-dumping rules to combat what was described as a glut of cheap Chinese steel imports.

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 19th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

China says will limit non-ferrous metals expansion in 5-year plan

Source: www.chinamining.org         Citation: Reuters     Date: October 19, 2016

China`s government said it would strictly control the expansion of its non-ferrous metals industry, encourage continued consolidation and boost proven ore reserves by 2020 as part of its five-year development plan for the industry.  

In a statement released late on Tuesday, the Ministry of Industry and Information Technology (MIIT) said it will limit new production capacity expansions in the copper, aluminium, zinc and lead sectors.

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 19th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

 

Tianjin holds 2016 CHINA MINING

Source: www.chinamining.org         Citation: Xinhua    Date: October 13, 2016

The 2016 CHINA MIING Congress and Expo was held at the Meijiang Convention Center in Tianjin on September 23. It was focused on dealing with challenges facing the mining industry and promoting stable development in the international mining industry.

Jiang Daming, president of the 2016 CHINA MIING Congress and Expo Organization Committee, stressed that the world mining industry is currently in depression and investment is in a downturn. Countries should seize the industrial and scientific opportunities to expand into new development areas in the world economy.

A visitor to 2016 China Mining enters an underground mine through virtual reality technology on September 23. [Photo/Xinhua]

At the beginning of September, 2016, Chinese president Xi Jinping`s speech at the G20 summit offered the world mining industry a strong direction.

Jiang Daming said the mining industries of different countries are connected with each other and China will maintain a transparent policy environment and create a partners’ exchange platform to improve the international mining cooperation system.

The Hon. Mosebenzi Joseph Zwane, Minister of Mineral Resources of South Africa, said China should be respected for its contribution to world peace and South Africa will maintain friendly relations with China. He also welcomed Chinese enterprises to invest in South African mining industries.

Attendees look over mining equipment. [Photo/Xinhua]

During the congress, five forums – one a thesis forum, the others on mining ministers’ forum,  mining industry high-level development forum, China-Africa mining investment and Partnership, and geological survey directors’ forum -- together with 25 seminars and 17 company promotional conferences, were held.

The event was sponsored by China`s Ministry of Land and Resources, the Tianjin Municipal People`s Government and the China Mining Association. More than 10,000 government officials, experts and mining enterprises delegates and visitors from 53 countries and regions attended the event.

China has become the biggest producing, consuming and trading country of minerals in the world. In the past five years, the country`s geological exploration investment reached 568.2 billion yuan (US$85.2 billion) leading to discovery of more than 730 medium and large ore fields.

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 19th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

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 19th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

China`s Belt and Road Initiative makes significant progress: research report

Source: www.chinamining.org     Citation: Xinhua     Date: September 27 2016

Govt has to balance rising prices, overcapacity targets: experts

China`s Belt and Road Initiative has made significant progress since it was proposed three years ago, according to a report published on Monday.

The report was released at a seminar on the Belt and Road in Xi`an, one of the termini of the ancient Silk Road.

According to the China`s Renmin University, more than 100 countries and international bodies are involved in the initiative and more than 30 countries along the new Silk Road have cooperation agreements with Beijing. China is also working with more than 20 nations on industrial capacity projects.

The report said coordination of development strategies has begun with many countries along the routes, including Kazakhstan and Russia.

China is coordinating infrastructure standards, connecting transportation and energy infrastructure and boosting information connectivity.

China has signed investment treaties with various countries along routes and has already invested over 50 billion US dollars.

To ensure adequate financing, China has been pushing for trade settlement in RMB, currency swaps, and other financial arrangements. The Asian Infrastructure Investment Bank considers projects related to the initiative as its top priority, investing 509-million US dollars in its first four projects, all going to countries along the Belt and Road.

The Belt and Road, proposed by China in 2013, refers to the Silk Road Economic Belt and the 21st Century Maritime Silk Road, a trade and infrastructure network connecting Asia with Europe and Africa along the ancient trade routes.

About CHINA MINING

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

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

China considers making mining rules closer to int`l standards

Source: www.chinamining.org     Citation: Xinhua   Date: September 27, 2016

China is considering changes to its mineral deposit classification and reporting rules to bring them in line with international standards and open up its mining sector, government officials have said.

Mining is an important sector for China`s opening up, said Yu Haifeng, an official in charge of mineral reserves with the Ministry of Land and Resources at the CHINA MINING Congress and Expo held in the northern port city of Tianjin.

Compared with the standards of CRIRSCO (Committee for Mineral Reserves International Reporting Standards), China`s classification for solid mineral resources is suitable for government oversight, but has not allowed financial capital markets to be fully utilized, said Li Jian, another official with the ministry.

Differences in classification and reporting standards have led to higher costs for China`s mining firms in international cooperation, said Wang Jionghui, general manager assistant of China Minmetals Corporation.

Modifying its system to be closer to the CRIRSCO standard system will enhance China`s influence in the international mining market and help China build a highly efficient and sustainable mining market, said Wang at the expo.

Formed in 1994, CRIRSCO is a grouping of representatives of organizations responsible for developing mineral reporting codes and guidelines in Australasia, Brazil, Canada, Chile, Europe, Mongolia, Russia, South Africa and the United States, according to its official website. The combined value of mining companies listed on stock exchanges in those countries and regions accounts for more than 80 percent of the listed capital of the mining industry.

CHINA MINING Congress and Expo, which runs from Thursday to Sunday, is one of the largest mineral exploration and mining trading platforms. It plays an important role in communication and cooperation for mining communities globally.

China has become the world`s largest producer, consumer and trading nation of mineral commodities.

Over the past five years, China`s total production of primary energy hit 11.7 billion tons of standard coal and its total output of iron ore reached 6.8 billion tons, Minister of Land and Resources Jiang Daming told the congress.

During the same period, China`s total trade volume of mineral products was close to $5 trillion, an increase of 81 percent, said Jiang at the opening ceremony of the congress on Friday.

China has invested 568 billion yuan ($85 billion) in geological exploration over the past five years and discovered more than 730 large and medium-sized mineral deposits, Jiang said.

As China`s economy enters a new normal, the country`s mining sector should seek new momentum through structural reforms, he added.

The minister said China will gradually open up the exploration and development market in oil, gas and new energy and improve government supervision in the sector.

All countries should strengthen exchanges in policy, technical standards and codes in the mining field to facilitate investment, he said.

Booming global industrial cooperation and technological innovation have brought new opportunities to the mining industry, Jiang said.

China has made continuous efforts in a bid to bring its system in line with international mining reporting systems. In 2015, China launched a program to establish technical standard systems for mineral reserves.

CRIRSCO representatives said China has been proactive in bringing its standards in line with the organization and they appreciate what China has done in this regard.

About CHINA MINING

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

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

 

Create a bright future together 
--- For the Opening of CHINA MINING Congress and Expo 2016

Source: www.zgkyb.com    Citation: www.zgkyb.com    Date: September 21, 2016

CHINA MINING Congress and Expo 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on Sept.22nd- 25th , 2016. We wish this annual event a success.

After many years of accumulation and improvement , CHINA MINING Congress & Expo has become a perfect platform. During the conference, government officials, industry leaders and experts from both Chinese and foreign mining industries have in-depth dialogues on questions related with the mining industry. The topics cover keynote session supported by the world`s leading experts, mining ministers forum, geological survey directors forum, mining development summit forum and many breakout sessions including mining policies and financing, geological survey, prospecting & exploration and development, mineral commodities, mining sustainability, etc. and country (region) investment projects shows and more.

We are so excited that this international mining conference has been successfully held the 18th. "18" is a lucky number which is considered a harbinger of "fortune " in many places of China. With such a good luck and good wish, we expect that this meeting will be an unusually exciting show.

Mining has became one of the most globalized industries in recent years. And the global mining is increasingly to form a community of destiny. Looking back over the past year, the global economy is still in the doldrums and mining market has not yet bottomed out. Mining countries all over the world are profoundly understanding the reality of "a prosperity, a loss for both sides". So they also understand the significance of unity and cooperation which have also made an important contribution for the mining economy and the global economic recovery.

At present, the world economy is still in a downturn with the limited amplitude of uneven recovery trend, the continuous declination of investment, and the low level of price. Be affected by the sluggish recovery of economy and weak demand, global mining situation is still in the continuation of the previous downturn in the first half of this year. Compared with previous years, the recent shock rebound of the global commodities market is still in a low level. From the view of domestic mining situation, the contradiction of the lack of demand and the excess capacity, as well as a significant decline in profits, the financial strain of companies and the management difficulties, which make the recovery of mining industries still need time.

While we must acknowledge that the developed countries in Europe, America and Japan have completed the mission of industrialization and industry transformation and upgrading, which results in the basic steady demand of minerals. The new normal of Chinese economy is to resolve the excess capacity of traditional industries and strengthen the supply-side reform, change the resource industry chain structurally and make the bulk commodity consumption such as coal and iron into the peak interval. And with the acceleration of economic development of the "BRIC countries" and ASEAN countries, global demand for bulk commodities will basically stable. Especially with the operation of the new governance mechanism, the rise of a new round of industrial revolution, the industry driven from technology innovation and the effect of the supply-side reform, the world mining, especially the mining of emerging economies, will meet new opportunities.

With the theme of "From Novel Concepts,To Innovation Solutions",this conference conforms to the demands of the mining industry at home and abroad, and manifests the determination that the conference organizers wants to make the international mining industry  reach a consensus and work together to overcome difficulties and boost confidence.

It is impossible to realize industrialization and modernization without reliable mineral resources security for the world`s largest developing country like China and the third world countries. China is the world`s largest minerals producing country, minerals consuming country and minerals trading country. In recent years, China made significant prospecting results, the capacity of resource security grew noticeably through implementing National Exploration & Development Planning (NEDP). But the imbalance of the global distribution of resources determined that there is no other country in the world can depend entirely on their own resources to meet the needs of their development, the international cooperation should be enhanced to learn from each other, as well as exchange of needed goods. In fact, in recent years, on the basis of equality, mutual benefit, cooperation and win-win situation, China carried out the fruitful cooperation with many other countries in the world on mineral resources, China gained a lot of successful experience, meanwhile, many countries benefit from it.

As is known to all, the western developed countries have completed the industrialization into the post-industrial society successively by the mid 1970s. the western developed countries began upgrading their industries by using the technological advantage, and realized the modernization quickly. But in the process of industrialization in the western developed countries, it also happened a series of "environmental hazards incident"which caused the global ecological environment crisis. The painful lessons of the development of the western developed countries made China`s policymakers to recognize that in the process of the globalization, if China set the "done" industrial civilization pattern of developed country as a goal, it will definitely have the contradiction and conflict with the developed countries and even the third world countries on the issue of natural resource. At the same time, China will pay a heavy even irreversible ecological environmental cost, therefore, looking for a new, ecological and civilized development mode is the inevitable choice of China and the third world countries. Certainly, it is also the choice of the developed countries. And it is the original intention of the Chinese government put forward “Innovation, Coordination, Green, Open, Sharing" as the new development concept.

Currently, world economy is at a crossroads, world economy economic pattern is undergoing profound changes. There is a deeper dilemma of economic globalization and a unprecedented urgency for global economic governance transformation. China must adhere to the resources strategy of "both home and overseas resource markets but based on home market". Domestically, as a traditional and pillar industry in China, mining provides a strong material support for our country`s modernization construction. Economic development situation determines mining development situation. In the long-term mining economic downturn, we should further implement the five development concepts, take the initiative to adapt to "new normal", release accurate policy signals to encourage scientific development of mining, reform the outdated mining system and mechanism, adhere to structural reform of the supply front as the main line, promote transformation and upgrading mining industry, and optimize structural adjustment, give full play to the role of innovation-driven in leading and supporting, develop green mining, and resolutely eliminate backward excess mining capacity; drive interaction and amalgamation between mining and finance, technology, information departments, effectively stimulate the market’s vitality, improve market expectation, release the potential of mining economic growth, and advance the sustainable and healthy development development of mining.

"Single person can hardly heave, crowd of walkers make path easier." Internationally, we should participate in the new round of globalization and global mining order management actively, take part in formulate international mining policies, rules, standards, build a just, reasonable and free international mining trade rules; cooperate with other countries and areas in exploration, mining, processing, technology and trade with a more inclusive and open mind, build a mutually beneficial, sharing, open international mining pattern, achieve win-win development; promote the sustainable and booming development of global mining on the basis of complementary advantages, mutual benefit and common development, become the world`s mining economic development "ballast stone". We expect to contribute to global mining economy`s way to get rid of the difficulty ,and work together to create a better future for global mining industry.

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 20th -23rd , 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.

Nonferrous industry body refutes claim that Chinese company is evading US tariffs

Source: www.chinamining.org     Citation: Global Times   Date: September 13, 2016

The China Nonferrous Metals Industry Association (CNMIA) said on Monday that foreign media accusations that a Chinese company is using transshipping, a method of evading US tariffs, by routing aluminum through Mexico to disguise its origins "seriously deviated from reality."

The CNMIA rebutted the transshipping claims raised on Friday by the Wall Street Journal. The US-based newspaper said China Zhongwang Holdings, the world`s second-largest producer of aluminum extrusions, had stored nearly 1 million metric tons of aluminum worth some $2 billion in a Mexican town, with intentions of shipping it to the US to avoid tariffs on Chinese exports.

China Zhongwang said in a statement sent to the Global Times on Monday that the company has no manufacturing base in any foreign countries, and that the company always abides by all international trade regulations and relevant government laws on exports.

Bai Ming, a research fellow at the Chinese Academy of International Trade and Economic Cooperation, said judging from what has been disclosed by overseas media on the matter, the evidence is not strong enough to prove that the transshipping practice really exists.

"First, overseas reports about the aluminum in Mexico and its origin are not clear enough. Second, overseas media organizations haven`t got sufficient proof that the stockpile is used for transshipping instead of for other purposes, such as for sale in Mexico," Bai told the Global Times on Monday.??

Xu Ruoxu, an analyst from Shenwan Hongyuan Securities, said Chinese companies might export virgin aluminum to Mexico, process it into aluminum ingots, and then ship the latter to the US, because the US charges a high tax on direct exports of aluminum ingots from China.

But according to the CNMIA, the Chinese government levies a 15 percent tax on all virgin aluminum exports, and therefore Chinese companies can hardly make any profits from virgin aluminum exports.

It also noted that if China transships virgin aluminum to the US via Mexico, the products can`t obtain a legal certificate of origin from Mexico, and the importer will still need to pay duties levied by the US.

The CNMIA also noted that if the "discovered" aluminum stockpile is composed of processed aluminum products imported from China, it doesn`t violate export laws in China or import laws in Mexico.

About CHINA MINING

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

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

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