Comprehensive news

China's largest copper deposit to start output Sept 
The Yulong Copper mine in Tibet, China's largest copper deposit, is expected to start production at the end of September, the Shanghai Securities News said on Friday, citing a report from the official Xinhua News Agency.

Zijin Mining signs MOU with Tajikistan
Zijin Mining has signed a MOU with the Tajikistan government in Tajikistan on August 27, 2008. Mr. Rakhmon, the president of Tajikistan and Mr. Hu Jintao, the president of China attended the signing ceremony.

CNMMG signs nickel production contract with Myanmar mining company 
China Nonferrous Metal Mining Group (CNMMG) recently signed a nickel production contract with a mining company under Myanmar's Ministry of Mines.

Guangxi to invite investment in metallurgical industry 
The Guangxi Autonomous Region plans toinvite 80 billion yuan of investment in boosting its metallurgicalindustry in five year, a regional official said.

JV to tap Asia's biggest gold mine 
China National Gold Group Co, the country's largest gold producer, said on Friday it would invest at least 2 billion yuan in a new joint venture company with Gansu Jinchuan Group Co to develop Asia's largest gold mine.

Policy

China publishes procedure to standardize foreigners' mineral exploration 
The Ministry of Commerce (MOC) and the Ministry of State Land and Resources (MLR) recently jointly published a procedure on the management of foreign invested mineral exploration enterprises, which will be effective as of August 20.

New tariff policies to cast influence on resource industry 
China's Customs Tariff Commission of the State Council recently issued a circular to increase the export tariffs on aluminum and coal products.

Market

Nonferrous metal price likely turnaround 
The overall nonferrous metal prices may stop falling with the rise in production costs and some enterprises' decision to cut production, a survey on nonferrous metal spot market disclosed.

China July import of copper and copper product reaches 186,136 tons 
China's import of copper, copperalloy and semi-finished copper products amounted to 186,136 tons inJuly, according to primary statistics published by the General Administration of Customs Monday.

China's surging iron ore output leads to overstock in H1 
Surging output of iron ore in Chinaplus excessive import lead to the overstock in the first half year.

Mines found

466 Chinese mines of resource crisis found to be of resource potential 
Of 632 Chinese mines of resource crisis surveyed, 466 have been found to be of resource potential, according to a survey on the resource potential of China's major solid mineral mines concluded recently.

Merge and acquisition

Gold miner eyes more acquisitions 
Zhaojin Mining Industry, a gold miner in Shandong province, plans to make two more acquisitions in the second half to capitalize on the growing demand and surging gold prices.

Chinalco wins green light for Rio purchase 
ALUMINUM Corp of China, or Chinalco, received Australian approval yesterday to raise to 11 percent its stake in Rio Tinto Group, the target of a hostile US$143 billion takeover by rival miner BHP Billiton Ltd.

Statistics

China's import of chromium ore in June 2008

China imported 540,000 tons of chromium ore valued at 231.149 million US dollars in June 2008. The import in January-June reached 3,480,000 tons valued at 1,240.615 million US dollars, up 22.9 percent and 100.3 percent respectively year on year.

China's output of iron ore in June 2008

China produced 81,564,000 tons of iron ore in June 2008. The output in January-June reached 391,379,000 tons, up 25.8 percent year on year, according to the National Bureau of Statistics.