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Top news review on Chinamining.org in November, 2015

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Updated: 2015-12-01 10:35
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Comprehensive news

China's metal producers ask govt to buy up surplus
China's aluminum and nickel producers have asked the government to buy up surplus metal, sources said, the first coordinated effort since 2009 to revive prices suffering their worst rout since the global financial crisis.

Chinese oil trader sees economy benefiting as import rules ease

China is opening up its crude-import market to private companies quicker than expected as the government looks to ease an economic slowdown, according to the general manager of oil trader China Zhenhua Oil Co.

Iron and steel association rejects global blame for overcapacity

The China Iron and Steel Industry Association has rejected international industry claims that a global glut in supplies is the direct result of robust growth in Chinese steel exports.

Chinese firms seal $28m chrome deal

Zimbabwe has sealed two deals with Chinese companies running into several millions of dollars for the off-take tantalite and chrome following the lifting of a four-year-old export ban on chrome ore.

China zinc smelter cuts fail to tip the supply-demand balance

Output cuts announced by Chinese zinc smelters last week will do little to tighten next year's global supply-demand balance in refined metal because already known mining cutbacks would have forced smelters to reduce production anyway.

China to push ahead with shale gas exploration

China is poised to open up shale gas exploration even as the appetite for producing the fuel ebbs amid a global glut and a plunge in energy prices.

Energy-hungry sectors, mining see big slowdown
China's mining and top energy-consuming industries suffered a sharp slowdown in factory output and fixed-asset investment last month, further softening overall growth, according to official data.


Market

China's steel output down in October

China's crude steel output dropped 3.1 percent year on year in October, widening from a decline of 0.3 percent for October 2014, the top economic planner said Saturday.

China's coal imports down 30.65 % in Oct to 13.96 mln tons

China saw its coal imports plunge 30.65% year on year to 13.96 million tons last month, according to statistics released by the General Administration of Customs.


Mines found

Largest coal mine identified in east China

A geological survey has identified nearly 5 billion tonnes of coal deposits at a mine in Anhui Province, making it the largest in east China.

470-ton gold mine found under waters of Bohai Sea

China has discovered a colossal gold mine worth hundreds of billions of yuan in the water of Sanshan Island, East Shandong province's Laizhou Island, which lies east of the Bohai Sea.


Merge and acquisition

Chinese firm to invest $2.15b in Mexico's energy sector: report
China National Corporation for Overseas Economic Cooperation (CCOEC) is set to invest $2.15 billion in Mexico's energy sector, it was announced at a bilateral trade forum which ended in Mexico City on Thursday, Xinhua News Agency reported on Saturday.


Companies

PetroChina to sell stake in Trans-Asia gas pipeline

PetroChina Co Ltd, the country's biggest oil and gas producer, is selling a half stake in its subsidiary Trans-Asia Gas Pipeline for 15.5 billion yuan ($2.4 billion) to strengthen its balance sheet amid weak oil and gas prices.


Policy

China abolishes ban on silver concentrate ore imports, unwrought bismuth exports  
China has abolished its ban on imports of silver concentrate ore and its refined concentrates, as well as exports of unwrought bismuth effective November 10, the Ministry of Commerce said in a directive posted on its website Tuesday.

 

 

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