Comprehensive news

Coal sector set to meet consolidation goals

Compared with other industries, such as information technology and retailing, which have experienced significant merger and acquisition (M&A) activity in recent years, China's coal sector has been relatively quiet.

Resolve of steel blazes new trail

Sinosteel is a central enterprise engaged in the development and exploration of mineral resources, trading and logistics of metallurgical raw materials and products, engineering technology development, equipment manufacture and related services. Its total sales revenue reached $15 billion in 2007.

China becomes world's largest gold producer in 2007

World's metal consulting institution Gold Fields Mineral Services Ltd. (GFMS) disclosed that China took the place of South Africa becoming the world's largest gold producer in 2007.

Policy

Export duties raised to save resources

The government will adjust the import and export duties on some products from January 1 to save domestic resources and ensure better trade balance.

China tightens tungsten product export with 10.2 pct cut in first batch of export quotas

China has recently granted the first batch of tungsten product export quotas, which total 10,785.6 tons, decreasing 1,224 tons or 10.2 percent as compared with that of last year, according to the China Association of Tungsten Industry.

China to announce revised resource tax system in 2008

Details of a new resource taxation system will be announced this year, an official with the State Administration of Taxation (SAT) said on Thursday.

Local governments asked to report pace of eliminating outdated iron and steel production facilities

China National Development Reform Commission (NDRC) has recently issued a circular asking 28 provinces, autonomous regions and municipalities to report their work on eliminating outdated production capacity of iron and steel in 2007.

Market

China's exports of tin, zinc to fall on new taxes

China's exports of refined tin and low-grade refined zinc may fall due to new taxes, industry officials said on Wednesday.

Gold futures trading to start Jan. 9

THE Shanghai Futures Exchange, one of China's major futures trading venues, will start gold futures trading on January 9, the exchange said yesterday. But the contract size will be larger than originally expected in order to discourage individual investors.

Zinc price still under sliding pressures

Spurred by overall rebound of the metals market and no adjustment to the tariffs on export of high-grade zinc, zinc price in China rebounded in late December and early January, but analysts hold that the price movement may resume the declining trend again under multiple unfavorable factors.

Elimination of China's backward crude copper capacities urged

In response to tight supply of copper ores in China, a Chinese copper expert calls on the government to further eliminate backward crude copper production capacities.

Mines found

Hainan discovers new gold resources

China discovers 1 billion tons of iron deposits

Geologists have discovered an iron ore deposit estimated to be at least 1 billion tons in northeast China's Liaoning Province after more than two years of exploration, local authorities said on Thursday.

Mine safety

Technology Will Boost Mine Safety

The nation's top work safety agency will this year "actively promote" the use of tracking and locating systems for miners working underground in response to rising concerns about safety, an official said.

Merge and acquisition

China's top nickel producer to buy Canada's Tyler Resources

China's top nickel producer Jinchuan Group Ltd. has made an offer to buy Canada-based Tyler Resources for 214 million Canadian dollars in cash.