Chinese fund invests 4 bln USD in Africa

Source: Xinhua         Citation: Xinhua     Date: December 14, 2016

GUANGZHOU, Dec. 14 (Xinhua) -- The China Africa Development Fund (CAD Fund), an equity investment fund managed by China Development Bank, had invested 4 billion U.S. dollars in Africa as of the end of November, authorities said Wednesday.

Since its establishment in 2007, the fund has invested in 88 projects in 37 African countries. The projects cover areas including infrastructure, processing and manufacturing, and energy and mineral resources, said Wang Yong, vice president of the fund, at a business partnership event attended by Chinese and African companies in Guangzhou.

In addition to investment directly from the CAD Fund, the projects have attracted a further 17 billion U.S. dollars in the form of enterprise investment and bank loans to Africa, according to Wang.

Every U.S. dollar the CAD Fund invests attracts some five U.S. dollars of investment from Chinese companies and banks, he said.

With an initial seed fund of 1 billion U.S. dollars, the CAD Fund was set up to diversify financial vehicles to facilitate Chinese investment in Africa.

The fund mainly focuses on long-term investment projects such as industrial development, agriculture, infrastructure, and resource development.

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 to boost biomass energy development in 2016-2020  

Source: Xinhua         Citation: Xinhua      Date: December 5, 2016

BEIJING, Dec. 5 (Xinhua) -- China will boost the development of biomass energy in the next five years to reduce coal consumption and improve air quality, the National Energy Administration said Monday.

China will achieve biomass energy equivalent of 58 million of tonnes by 2020, according to the administration`s 2016-2020 biomass energy development plan.

The use of biomass energy will be more commercialized and industrialized by 2020, the plan said.

Biomass is defined as biological material--generally farm or forestry byproducts--that can be used directly to produce heat via combustion or indirectly after being converted to various biofuels.

Although China produces the biomass energy equivalent of about 460 million tonnes of coal annually, mostly for biogas, biomass power generation and biomass heating,the vast majority is not harnessed as the proper technology is not fully in place.

China is promoting non-fossil energy, including biomass energy, to power its economy in a cleaner, more sustainable fashion. The government aims to lift the proportion of non-fossil energy in the energy mix to 20 percent by 2030 from the current level of around 11 percent.

China`s energy mix is currently dominated by coal.

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, Brazil should work together on steel overcapacity: MOC

Source: www.chinamining.org         Citation: Xinhua      Date: November 23, 2016

China and Brazil should work together to address steel sector overcapacity, as protectionism only compounds the situation, China`s Ministry of Commerce (MOC) said Tuesday, after Brazil launched probes into Chinese steel products.  

"The Chinese government has always held that trade remedies should be used in a cautious and restrained manner, and encouraged its businesses to solve trade frictions through trade, investment and technological cooperation with their foreign counterparts," said Wang Hejun, head of the MOC trade remedy and investigation bureau.  

Protectionism will do no good in overcoming difficulties in the global economy and steel sector. On the contrary, it will hinder normal trade, Wang said.  

The two emerging economies are closely-related in the steel sector as Brazil boasts vast iron ore deposits, and China is the largest steel producer in the world.  

Wang`s remarks came after Brazil announced Monday its first anti-subsidy investigations into hot rolled steel plate from China. Chinese steel products saw 14 anti-dumping probes from the Brazilian government in the past five years, with most cases ending in restrictive measures.  

But Chinese steel accounts for less than two percent of the Brazilian market, according to Wang.  

Plagued by excess production, the global steel sector has seen more trade disputes in recent years, with Chinese companies suffering the most.  

China is calling for unity in tackling severe overcapacity, and has achieved remarkable progress in downsizing its domestic steel industry.  

The country has reduced more than 90 million tons of excess capacity during the past five years, and the government plans to slash more by 2020.

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.

Peru and China to cooperate in tech, mining, energy

Source: www.chinamining.org         Citation: foxnews.com       Date: November 21, 2016

Peru`s Pedro Pablo Kuczynski and Chinese President Xi Jinping presided here Monday over the signing of bilateral pacts in fields including technology, mining and energy.

The signings followed talks at the Peruvian presidential palace.

Xi traveled to Lima for the summit of the Asia-Pacific Economic Cooperation forum, which concluded Sunday.

China is donating to Peru the Chinese-supplied vehicles and computers that were used for the APEC event.

The two nations have agreed to work together on environmental issues and energy, while a number of Peruvian and Chinese financial institutions have entered into collaborative arrangements.

Neither president offered any statements after the signing ceremony.

The Chinese leader planned to meet later on Monday with Peru`s Congress.

Kuczynski, who took office July 28, visited China in September on his first foreign journey as president.

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.

EU tariffs on Chinese steel called unfair

Source: www.chinamining.org         Citation: China Daily    Date: November 21, 2016

The latest anti-dumping tariffs levied on Chinese steel products by the European Union could lead to a sharp fall in exports of China`s seamless steel pipes and tubes to the region, according to a leading industry expert.  

Wang Guoqing, director of the Lange Steel Information Center, says the duties imposed on iron and steel seamless pipes and tubes, ranging from 43.5 to 81.1 percent, are aggressive and may wipe out much of manufacturers` profit margin and lead to a sharp decline in exports to the EU.  

The EU imposed provisional anti-dumping tariffs for six months on Chinese steel and iron products on Nov 14 after manufacturers in the bloc lodged numerous complaints about Chinese competitors allegedly exporting at unfairly low prices.  

The European Commission, the EU`s executive body, says it will decide whether to support the anti-dumping measures and extend the restrictions for five years.  

"Most seamless tube manufacturers in China are small-scale. They feel powerless facing anti-dumping sentiment. But from earlier experience, companies that file appeals sometimes get much lower anti-dumping tariffs. Therefore, the Chinese government should provide consulting for these companies to help them with the legal process," says Wang.  

China`s Commerce Ministry says the EU`s decision, based on the fact that China`s steel export prices are lower than those of other exporters to the region, was unfair.  

"China offers competitive prices because it has large-scale steel production. The fact that its prices are lower than those of other exporters does not mean that it is dumping the products at prices lower than domestic costs," says Wang.  

A report by 315.com.cn, a Chinese bulk commodity information and trading website, said global output of seamless steel pipes and tubes dropped 14.6 percent year-on-year to 41.44 million metric tons in 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 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.

China association protests markup by overseas iron ore producer

Source: www.chinamining.org         Citation: Xinhua     Date: November 21, 2016

The China Iron and Steel Association (CISA) has protested at a markup by a leading iron ore producer that targets Chinese buyers.

"It is obviously unfair," a CISA official said on Friday, who did not name the company but hinted it is among the world`s top-three iron ore miners.

When discussing new agreements with Chinese steel firms, the company decided to impose a premium in addition to prices published by Platts, a benchmark price assessment in physical energy markets, the official said.

The official said the practice damaged the current pricing mechanism and disturbed trade order, and called on the two sides to "sit down and talk" to solve the problem together.

China is the world`s biggest consumer of iron ore, with the imports up 8.9 percent year on year in the first ten months.

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.

China to boost geothermal power consumption in 2016-2020

Source: www.chinamining.org         Citation: Xinhua     Date: November 18, 2016

BEIJING - China will boost the development of geothermal power in the next five years to reduce coal consumption and improve air quality, an energy official said on Thursday.  

In particular, China will promote the use of geothermal power in the Beijing-Tianjin-Hebei region to replace coal for heating to reduce carbon dioxide emissions and improve air quality, Li Yangzhe, deputy Source: www.chinamining.org         Citation: Xinhua     Date: November 18, 2016director of the National Energy Administration, told an international forum on geothermal power.  

Li said China will provide policy support to boost geothermal power exploitation and consumption during the 2016-2020 period.  

China is expected to more than triple its geothermal power consumption by 2020 to 72.1 million tonnes of coal equivalent from the current level.  

China consumed about 20 million tonnes of coal equivalent of geothermal resources for heating, power generation and other uses in 2015, official data showed.  

By 2020, geothermal power will likely account for about 1.5 percent of the country`s total energy consumption, helping to reduce carbon dioxide emissions by 177 million tonnes.

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.

Pakistan to engage in joint oil, gas projects with China: UAE

Source: www.chinamining.org         Citation: Xinhua     Date: November 09, 2016

Pakistan`s Petroleum and Natural Resources Minister Shahid Khaqan Abbasi said Tuesday the China-Pakistan Economic Corridor (CPEC) focuses on infrastructure development, his country also hopes that the project could be a driver for joint oil and gas projects.  

"We are hopeful that Chinese oil and gas companies will invest in the energy performance sector and also in other sphere of Pakistan`s business," Abbasi told Xinhua on the sidelines of the ongoing Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC).  

On the possibility of joint investments in liquefied natural gas (LNG), the minister said "China, like Pakistan, is an importer of LNG, but we are in discussions with Chinese firms as they have the relevant technology to explore and export LNG."  

The CPEC is a pilot project under the Belt and Road Initiative. China and Pakistan have recently launched a host of projects focusing on energy and transport infrastructure.  

On Aug. 4, 2016, Pakistan`s Finance Minister Ishaq Dar said in Dubai when he met officials of the International Monetary Fund (IMF) that the world will see the ongoing construction of the CPEC not only serves both countries, but the entire Central Asian region.  

This shared prosperity will benefit the whole region because these infrastructure projects will be later expanded to neighboring Afghanistan and Iran, he 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 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.

State councilor urges strengthened cooperation along Belt and Road

Source: www.chinamining.org         Citation: chinadaily.com.cn     Date: November 04, 2016

Countries and regions along the Belt and Road are urged to strengthen cooperation in infrastructure construction, energy resource development, finance, education, science, technology, tourism and medical care, said State Councilor Wang Yong.  

Construction of infrastructural facilities will facilitate connections between the countries and regions while education, science, technology, tourism and medical care concern people`s livelihoods and are the foundation for the construction of the Belt and Road, Wang said.  

He made the remarks in his keynote speech delivered today at the 8th West China International Cooperation Forum in Chengdu, Sichuan province, which is being held under the theme of jointly building the Belt and Road for a bright future.  

The Belt and Road Initiative, which comprises the Silk Road Economic Belt and the 21st Century Maritime Silk Road, was put forward by President Xi Jinping in 2013.  

Since then, more than 30 countries have signed agreements with China to cooperate in the construction of the Belt and Road.  

The Belt and Road connects 64 countries and 4.5 billion people in the world. The initiative not only involves economy but also boosts cultural and social exchange in different civilizations, said Mohammad Sarwar Danesh, second vice president of Afghanistan.  

His country, which boasts more than $3 trillion worth of mineral resources, fully endorses the Belt and Road initiative, he said.  

Afghanistan abounds in iron and copper ore, gemstones and stones for decoration. China can invest in the fields and Afghanistan can sell its products to China, he said.  

Milorad Dodik, president of the Serb Republic, said his country has cooperated with China in the construction of the Belt and Road. With investment from China, construction of a thermal power station started in the Serb Republic last month.  

The main contract for the station is with Dongfang Electric, a State-owned firm headquartered in Chengdu, the president said.  

The project has created more than 1,000 jobs in the Serb Republic and it is the largest direct foreign investment the country has received in recent years, he said.  

It is only the beginning of the cooperation, he said. At the end of this year, a Confucius Institute will be launched in his country.  

The 8th West China International Cooperation Forum is part of the 16th Western China Economic Fair being held in Chengdu from today to Nov 14.

Nearly 9,000 firms from 75 countries and regions are attending the fair, including some of the world`s leading firms, such as Daimler, METRO and DHL.

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.

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