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Most popular news from Chinamining.org in July, 2016

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Updated: 2016-08-02 10:26
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    Comprehensive news

    China needs more efforts in steel capacity cuts in H2

    China reduced steel capacity by 13 million tonnes in the first half of 2016, about 30 percent of the planned cuts for the whole year, and capacity cuts will intensify in the second half, a senior official said Monday.

    China's gold consumption down, production slightly up in H1

    China's gold production rose by 0.16 percent year on year to 229 tons in the first half of 2016, while consumption declined 7.68 percent to 529 tons.

    China enters into post-coal growth era: scholars

    China's coal consumption might have peaked in recent years, suggesting the country has entered the era of post-coal growth, according to a commentary article published Monday in the journal Nature Geoscience.

    China's crude oil output drops in H1

    China's crude oil output dropped 4.8 percent year on year to 100.45 million tons in H1, according to the National Development and Reform Commission (NDRC).

    China finds Asia's third-largest reserve of manganese ore in Guizhou

    China has discovered Asia's third-largest manganese reserves in Guizhou province, Songtao county, local authorities said last Friday. Citing a report by the Guizhou Bureau of Geology and Mineral resources, the China mining association said that a reserve of 106 million mt of manganese ore had been discovered in the county.

    Market

    China's June oil imports ease to five-month low, H1 up 14.2 pct

    China's June oil imports fell to the lowest on a daily basis since February but robust buying by independent "teapot" refiners and stockpiling boosted imports over the first half the year by 14.2 percent from the same period a year ago.

    Companies

    CNOOC will post $1.2b H1 loss due to oil price slump

    China National Offshore Oil Corporation, the country's largest offshore oil and gas producer, warned that it will have its first half-year loss of 8 billion yuan ($1.2 billion) since becoming a listed company, due to a prolonged slump of oil prices and a write-down on its Canadian oil sands assets.

    China biggest alumina producer's profit hits 5-year high

    Aluminum Corp of China (CHALCO), the country's biggest producer of alumina and primary aluminum, posted profits of 330 million yuan ($49.4 million) during the first half of the year, the highest level in almost five years.

    Policy

    Resources tax incentivizes 'long-term benefits'

    A new round of resources tax reform, starting from July, may lead to a heavier tax burden, but it will have long-lasting benefits to society and help ensure resource sustainability, experts said Tuesday.

   

 

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