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Hottest news review on Chinamining.org in January, 2013

Updated: 2013-02-19 08:30

Comprehensive news

China to maintain cap on energy consumption

China will continue to cap its energy consumption, increase the use of non-fossil fuels and keep oil imports within 61 percent of total demand during the 12th Five-Year Plan (2011-15), said the State Council on Wednesday.

Steelmaker bets big on diversification

Tangshan Iron and Steel Group Co plans to further expand its overseas businesses and manufacture more steel products for automobile use as part of its efforts to counter the slump in the Chinese steel industry.

Experts forecast strong Q1 for steelmakers

High prices and strong demands are expected to contribute to a strong first quarter for Taiwan's steel industry, experts said yesterday.


Iron ore seen weak on lean Chinese demand

Spot iron ore prices may be headed for more weakness this week amid lean demand from top buyer China, although expectations of tight supplies during the first quarter should keep losses in check.

Steel prices jump with iron ore up

Domestic steel producers have started to increase their product prices across the board as 2013 gets underway, in response to rising material costs, analysts told the Global Times Monday after Baoshan Iron & Steel Co (Baosteel) announced a price hike.

China pig iron prices rise 4% on month in Jan amid uptrend in local steel market

Domestic prices of steelmaking pig iron in North China's Hebei province rose by Yuan 100/mt ($16/mt), or around 4%, over the past one month, reflecting the continuous uptrend in domestic steel prices, market sources said Monday.

China's 2012 copper imports hit record high of 3.4 mil mt on strong demand in H1

China's 2012 refined copper imports hit a record high of 3.4 million mt, crossing the previous record seen for 2009 at 3.19 million mt, the latest figures from the General Administration of Customs of China showed Tuesday.

China's 2013 alumina output to rise 10% on year to 46.3 mil mt: Antaike

China is forecast to produce 46.3 million mt of alumina in 2013, up 9.9% from realized output in 2012, an analyst at state nonferrous information division Beijing Antaike said Monday.

Mines found

China finds 1.4 bln T of new oil reserves in 2012 - ministry

China discovered more than 1.4 billion tonnes of new proven oil reserves last year, its third highest annual haul ever, while its proven reserves of natural gas also increased by a record of nearly 900 billion cubic metres over the year, the Ministry of Land and Resources said on Friday.

Merge and acquisition

Minmetals looking for $1bn nickel buy: Andrew Michelmore

AFTER nearly a year bedding down the $1.3 billion acquisition of copper company Anvil Mining, Minmetals Resources chief Andrew Michelmore feels both his company and asset valuations are in the right place for another $1bn-plus base metals purchase.

Nexen, CNOOC extend closing date by 30 days

Nexen Inc and China's CNOOC Ltd said they have mutually agreed to extend the closing date of CNOOC's takeover of the Canadian oil and gas producer by 30 days to March 2, 2013.

Hanlong courts Chinese steel majors to help develop African iron ore project

China's Hanlong Group has approached Hebei Iron & Steel and Wuhan Iron & Steel about investing in the $4.7 billion Mbalam iron ore project in central Africa, which Hanlong is set to acquire through its takeover of Australia's Sundance Resources, a company official said Thursday.


Chalco threatens legal action if Mongolia backs out of coal contract

The Aluminum Corporation of China (Chalco) said Monday it would seek legal redress if Mongolia sought to break a coal sales agreement signed in 2011.

Taiyuan Iron & Steel Group crude steel output up 2.25% in 2012

Taiyuan Iron & Steel (Group) Co Ltd, a major stainless steel producer in mainland China, has said its crude steel output increases 2.25% YoY to 10.13 million metric tons in 2012, sources reported.



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