Comprehensive news

China to keep mineral mining rights held centrally
The "National Geological Prospecting Plan" has further defined the arrangement and way of operation of geological prospecting funds, and has gathered mining rights in mineral areas that have been put into the State mineral resources strategic reserve into the hands of the central geological prospecting fund management authority.

China encourages mineral companies to list overseas to fund growth
China will encourage domestic mineral exploration companies to list on overseas exchanges to raise funds for their development, the Ministry of Land and Resources said.

Inner Mongolia rectifies exploration and mining market
The Inner Mongolia Autonomous Region plans to shrink exploration and mining rights in the non-coal sector by 30 percent by the end of August, according the regional land and resources department.

Profit of steel industry may peak in Q2, experts 
Profits of the steel sector could peak in the second quarter of this year following a slight quarter-on-quarter growth in Q1, industry observers predict.

Domestic steelmakers toughen ore freight stance
China, the world's largest consumer of iron ore, won't accept demands from BHP Billiton Ltd and Rio Tinto Group for a freight premium on iron ore prices, the China Iron and Steel Association has said.

Policy

Prospecting and Mining Rights Get Price Tag
Mine owners have to pay for their mining rights and local governments must turn in 20 percent of the proceeds to the national coffer, according to a supplementary notice on mining charges jointly issued by the Ministry of Finance and the Ministry of Land and Resources.

China to release resources tax reform scheme 
China will adopt ad valorem tax rather than unit tax to safeguard resources and improve efficiency, according to Shi Yaobin, head of Tax Policy  Department under the Ministry of Finance.

Market

China's iron ore price hikes in March, expected to become steady later
Stimulated by the agreed price rise between big steel makers and iron ore suppliers in the world, China's iron ore price hiked remarkably in March.

China in sufficient supply of copper concentrate
China's supply of copper concentrate is sufficient, and the backwardation market condition, referring to a lower futures price in the distant delivery months than in the near delivery, can hardly change.

China's coal demand may top 3 bln tonnes in 2010 
China's coal demand may surpass 3 billion tonnes in 2010, a senior official with the China Coal Industry Association predicted on Monday.

China's Zinc Market Pressured by Weak Consumption and Increased Supplies
China's zinc market will become increasingly bearish in the coming months on the back of declining consumption and capacity expansions in the country, analysts told Interfax today.

China's coal supply ample in general in 2008 
China's coal supply is ample in general in 2008, but the seasonal contradiction between power coal supply and demand and regional difference still remain obvious, said general manager of the China Energy Power Industry Fuel Corporation.

Mines found

Major gold deposit found in Xinjiang 
A GOLD deposit with an estimated reserve of 24 metric tons has been found in Xinjiang Uygur Autonomous Region. The mine was reported to be 180 kilometers from Qitai County.

China Discovers 208 Mineral Resource Deposits in 2007
China discovered 208 mineral resource deposits last year, including 73 metal ore mines and 50 energy mineral mines, the Ministry of Land and Resources (MLR) said in the 2007 state land and resource bulletin released yesterday.

Merge and acquisition

China encourages M&A among coal miners
China encourages large coal mining companies to merge and acquire smaller ones, said the latest report by the National Development and Reform Commission.

Province Hebei plans to merger Tangshan Steel and Handan Steel 
An official from State owned Assets Supervision and Administration Commission in province Hebei said that "It is possible for the merger of Tangshan Steel and Handan Steel at present and we have to wait for the decision of provincial government now."

China National Gold buys Jinshan Stake from Ivanhoe
Ivanhoe Mines Ltd., seeking approval to develop a copper and gold deposit in Mongolia, agreed to sell its 42 percent stake in Jinshan Gold Mines Inc. to China National Gold Group Corp. for C$218 million ($214 million).

Chinalco likely to set up JV with Rio Tinto 
There is possibility for Chinalco, the parent of Chalco (601600.HK; 2600.SH; ACH.NYSE), to set up with Rio Tinto a joint venture dedicating to aluminum smelting, according to China Business News.

Coal acquisition 
CHINA Coal Energy Co, the nation's second-largest coal producer by sales, said it acquired 100 percent of China Coal Shanxi Dongpo Coal Co from a unit of its parent for 1.33 billion yuan (US$190 million) to tap the nation's rising energy demand.

Statistics

China's output of iron ore in February 2008
China produced 53,227,000 tons of iron ore in February 2008. The output in January-February reached 101,218,000 tons, up 24.7 percent year on year, according to the National Bureau of Statistics.

China's output of phosphate ore in February 2008
China produced 2,327,000 tons of phosphate ore in February 2008. The output in January-February reached 5,602,000 tons, up 23.5 percent year on year, according to the National Bureau of Statistics.