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The 3rd Annual Northern Asia Metal Mining Forum
[2008-4-25 11:19:20] |
| The 3rd Annual Northern Asia Metal Mining Forum
Grand Expansion of Metal Mining North East Asia
May 14th - 16th, 2008
Shanghai Marriott Hotel Hongqiao, China
The 3rd Annual Northern Asia Metal Mining Forum has become the biggest mining event with a focus on China, Mongolia, Russia and Central Asia, endorsed by China Mining Association, Mongolia National Mining Association and Russian Mining Advisory Council, organized by China Decision Makers Consultancy.
The continually changing regulatory circumstances are the key concerns of foreign mining houses. Especially in 2008, we are possibly facing a dramatic change of investment regulations in North Asia's mining sector. We will then have high-level government officials from China/Russia/Mongolia/Central Asia to speak with topics regarding the projections of directions of policy adjustments and governments' motives behind.
Northern Asia Metal Mining Forum 2008 is an annual meeting place where regulator
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China to rectify mineral development order again
[2008-4-25 11:19:00] |
| China to rectify mineral development order again
China has recently decided to launch a campaign nationwide from March to May to rectify and normalize the mineral development order again.
Jointly launched by nine ministries and commissions including the Ministry of Land and Resources, the National Development and Reform Commission and the Ministry of Finance, the campaign will focus on checking illegal activities in five aspects:
1) prospecting and mining without license or with expired license;
2) mining across the prescribed layer and border;
3) illegal transfer of mining right;
4) polluting and destroying mine environment;
5) examining and approving mining right in excess of authority. It is aimed to accelerate integrating the development of mineral resources.
Those provinces, regions and municipalities that fail to pass the examination, will be instructed to reform and con
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Historic Tungsten Mine Pays off for Primary Metals
[2008-4-25 11:18:42] |
| Paying attention to local myths and legends may have led Primary Metals to a gold property in Portugal, but it was faith in another legend, the 112 year-old Panasqueira tungsten mine, that has led to prosperity. Lewis Black and his associates at Almonty LLC demonstrated great courage and foresight when they purchased a significant interest in Primary Metals, which owns the Panasqueira tungsten mine, at the time that tungsten prices were depressed and the market outlook was uncertain..
“The people in Portugal love the mine because the mine represents this great fighting spirit,” says Lewis Black, director, chairman and CEO of Primary Metals Inc. “Through thick and thin, it seems to survive. Not many mines or companies can say they are 112 years old.”
“We have extremely good relations with both governments, Portugal and Spain, because Panasqueira has a reputation of being a survivor. We think there are very good opportunities here, and we will select the ones that are r
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Nickel price rebounds
[2008-4-25 11:18:21] |
| Nickel price rebounds
As 3-month nickel on LME rose by USD450/t from USD28,450/t this Tuesday to USD28,900/t, nickel market in China moved up slightly after continuous decrease from late last week. However, most traders do not hold optimistic attitudes towards the market. They are watching and waiting for a clearer market trend.
A trader in Shanghai quotes nickel of Norilsk brand and Jinchuan brand at RMB239,500/t (USD34,312/t) and RMB240,000-241,000/t (USD34,384-34,527/t) respectively, rising by RMB1,500/t (USD215/t) compared with the prices in the previous day. However, they sold nickel of Jinchuan brand at RMB240,500/t (USD34,455/t). The source revealed that the demand keeps stable presently and the supply of the material is not tight. The source said, “We sold 23t of nickel of Jinchuan brand, and the demand from consumers remains steady. We still hold around 30t of the material in total at hand, and we are reluctant to replenish the stock, as we still remains unc
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Chinese wrought molybdenum bar market appears slow
[2008-4-25 11:17:36] |
| Chinese wrought molybdenum bar market appears slow
Along with the price decrease of molybdenum bar, the export market of molybdenum bar has slowed down.
A Liaoning-based smelter, with the current output of over 100tpm of molybdenum bar, keeps offering USD73.6-73.9/kg for wrought molybdenum bar depending on the quantity and delivery time. "The market appears not as active as two weeks ago, and buyers ask for low prices now," said the source. "We offered USD73.6/kg to a customer, but received the counteroffer of USD73.3/kg, and now the deal is under negotiation."
Meanwhile, a Guangdong-based smelter told Asian Metal that the market actually appears a little bit quiet at present. "We received few enquiries, and it is totally not active," said the source. The suppliers lowered their offers from USD73.5/kg to USD72.5/kg to attract buying interest. "This is our bottom line, but buyers are still holding back, for many of them have purchased large quantity of mate
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China to release resources tax reform scheme
[2008-4-25 11:17:15] |
| 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.
Shi said, "This reform scheme is basically mature and will probably come out this year."
Meanwhile, comprehensive calculation of individual income tax will be introduced from previous item-specific calculation, and a sound property tax system will be established with the introduction of the property tax.
Substantial tax incentives such as value-added tax and income tax will be employed to prompt the development of nuclear power, renewable energy, wind power and other clean energy.
The government considers introducing environmental protection tax and adjusting the coverage and scope of consumption tax to encourage the research and utilization of green technologies, according to Shi.
The governm
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Tantalite price decreases in China
[2008-4-25 11:16:40] |
| Tantalite price decreases in China
With continuously low demand in the spot tantalite market, its price decreases from USD45.00-47.00/lb to USD43.00-45.00/lb, close sources reported to Asian Metal.
"The tantalite price decreases because tantalum product prices fail to rise," said a tantalum oxide producer, who used to purchase one container of tantalite per month.
According to the source, the price of average grade tantalum oxide decreased early this month and other tantalum product prices cannot go up due to relatively stable demand. Therefore, tantalite consumers are unable to accept the high tantalite prices. Besides, supply of the material is sufficient, which, thus, presses the price to go down.
The source confirmed that the anticipated price of tantalite (with 25%min Ta2O5 content) is in a range of USD43.00-45.00/lb, while it was a bit over USD45.00/lb in previous weeks.
A trader revealed that they have difficulties concluding tantalite deals over USD45.00/lb
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China's mining sector holds more opportunities for locals, slim pickings for foreign investors
[2008-4-25 11:15:53] |
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China's mining sector holds more opportunities for locals, slim pickings for foreign investors
Investment in China's mining sector has never been an easy business, and recently, more prospects have dried up for foreign investors following legislation changes and the development of a capital market. It seems the tide is changing and Chinese companies in the sector are beginning to come into their own, spurred on by a rapidly developing economy.
This time last year, there was much optimism about the future of foreign investment in China's mining sector. A few early birds were already feasting on juicy joint-venture worms, while many more were preparing to swoop as anticipation of more watertight legislation on prospecting and mining rights grew.
However, China's developing capital market has diminished the need for foreign investment as Chinese companies become savvier about raising their own equity. While global markets are entering a downturn period, China's economy still
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Ta appears to have reached its limits in Europe
[2008-4-25 11:15:31] |
| Ta appears to have reached its limits in Europe
According to sources, tantalite prices, mainstream around USD47/lb might have reached its limit this month, if not for this quarter, but the relatively stable prices of columbine now in the range of USD13.00-14.00/lb has kept the former from a free-fall trend.
A European trader disclosed that tantalite price had decreased slightly due to high availability. "For those who sold at USD46.0/lb before can only sell at USD45.0/lb now." He thinks the price had gone down by USD1.0/lb in the last two weeks.
Two months ago, when price was increasing, some people foresaw higher prices and they stocked material, and now there are more supplies than demands. The source holds that price of tantalite could fall further. "If not for the increasing columbine price, tantalite price would fall faster."
According to another source, columbine price is selling at USD13.0-14.0/lb CIF China at the moment, and it remains stro
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Molybdenum supply issues keep prices high
[2008-4-25 11:15:07] |
| Molybdenum supply issues keep prices high
World demand for steel-strengthening alloy molybdenum is expected to grow 5.8% this year, forecasts Catherine Virga of the CPM Group in New York. And with supply lagging demand, present molybdenum prices (above $30/lb for the past 10 months) are sustainable, she tells the recent annual meeting in Toronto of the Prospectors and Developers Association of Canada.
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Imports and exports trade of China's mining product continue to increase
[2008-4-25 11:14:37] |
| Imports and exports trade of China's mining product continue to increase
China's imports and exports trade of mining product continue to increase in 2007 with a total value of imports and exports for trade of 494.2 billion USD, growing by 28.7% than the previous year, according to Bulletin of China Land and Resources 2007 issued on April 16, 2008. In 2007, China's raw coal output reached 2,536 million tons rising by 6.6%; the output of crude oil was 187 million tons growing by 1.6%; the output of natural gas was 69.310 billion cubic meters up by 18.3%; the iron ore output reached 707 million tons increasing by 20.2%; the crude steel output was 490 million tons growing by 15.8%; 10 types of nonferrous metals output reached 23.51 million tons rising by 22.6%; the output of Phosphorus ore was 45.42 million tons growing by 16.6%; raw salt output was 59.76 million tons increasing by 10.6%; cement output reached 1,354 million tons rising by 9.2%.&
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Chinese titanium producers under pressure
[2008-4-25 11:14:09] |
| Chinese titanium producers under pressure
Chinese titanium sponge market generally remains slow currently, with prices in a range of RMB97,000-98,000/t for grade-zero titanium sponge and RMB94,000-95,000/t for grade-one titanium sponge, but the price of raw material keeps increasing. Participants believe that producers are under pressure, but the market will keep firm in the coming weeks.
A Liaoning-based smelter, with an output of 50tpm of titanium sponge, sells grade-zero titanium sponge for RMB97,000-98,000/t and grade-one titanium sponge for RMB94,000-95,000/t, and the source mainly sells the material to some long-term customers. "The demand is stable, but the price of raw material keeps very high," said the producer. "Actually we have a very small profit margin for the business."
The smelter just started titanium sponge production since later last year and mainly sells the material in Chinese domestic market.
Meanwhile, a Sichuan-based sm
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Tungsten – Getting cornered in China
[2008-4-25 11:13:45] |
| Tungsten – Getting cornered in China
According to the US Geological Survey (USGS), China currently accounts for approximately 85% of the world’s primary tungsten (mine production) and approximately 65% of the world reserve base.
Tungsten has been an important aspect of our every day life and has a wide range of applications. Apart from the filament of the humble light bulb, tungsten is incorporated into wear-resistant materials used in metal working, mining, petroleum & construction industries, stainless and full alloy steels, manufacturing including jet engines, strategic applications in the defense sector and high temperature resistant alloys.
Compared to “glittering matter” such as gold, a steel-gray to tin-white colored tungsten invokes little enthusiasm amongst resource investors. But what make tungsten interesting are its chemical properties which contribute to the diversity of its applications. Tungsten has the highest melting point, lowest coefficient of thermal
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China leads the world in nonferrous metals output
[2008-4-25 11:13:17] |
| China leads the world in nonferrous metals output
China's nonferrous metal industry remained on a good trend of development in 2007.The output of ten types of nonferrous metals - topping 20 million tons for the first time - reached 23.6052 million tons with an increase of 23.44%. China's output ranks first in the world for the sixth consecutive year, according to the news report from the press conference held by the China Nonferrous Metal Industry Association on March 25, 2008. As a main factor of rapid increase in China's nonferrous metals, the output of electrolyses aluminum rose to 3.2 million tons in 2007, and accounts for 72% of the total output of ten types of nonferrous metals. In addition, China's eight provinces each had a total supply of over 1 million tons of the ten nonferrous metals in 2007.By People's Daily Online
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China to set up mineral industry development fund
[2008-4-25 11:12:52] |
| China to set up mineral industry development fund
Industrial experts have called on the government to establish a large industry fund to encourage mineral enterprises to acquire more resources so as to cut mineral import reliance.
Zhou Zhongshu, president of China Minerals Corporation, said that to set up a large industry fund can draw relatively abundant sate and private capital, which will meet domestic mineral enterprises’ capital demand to cover investment projects.
The establishment of the industry fund, reliant on state capital, will improve the current financing situation for mineral companies, who now mainly borrow loans from banks.
Lin Haoxiang, analyst with Guotai Jun'an Securities, deemed that centrally administered enterprises, domestic banks, large mineral enterprises and overseas strategic investors are likely to reach an agreement on setting up the fund.
In recent years, capital from various channels has been flowing in
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Thor Mining deal with Chinese trader
[2008-4-25 11:12:25] |
| Thor Mining deal with Chinese trader
Tungsten and molybdenum, which is important raw materials for the group's expanding steel business in China.
Prices of tungsten ore have trebled in the past five years, while molybdenum oxide has risen seven-fold, as Chinese steel production has boomed in line with the country's rapid economic growth.
In an interview with Reuters in November, Thor's chief executive John Young said it would cost A$63 million to bring the mine to production, which it aims to do by early 2009.Thor's London-listed shares were up 31 percent at 8.50 pence by 1029 GMT.
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Chinese nickel pig iron industry in 2008
[2008-4-25 11:11:59] |
| Chinese nickel pig iron industry in 2008
In a review of Chinese nickel pig iron industry developments in terms of production output as well as cost analysis in 2008, recoverable nickel from nickel pig iron will be 110,000 tones up by 29.4%YoY from 85,000 tones in 2007. However, nickel ore imports will come down from the 15.6 million tones hit in 2007 to 12.0 million tones to 13.0 million tones in 2008 due to a large amount of ore inventory carried over from the previous year and higher grades.
Breakeven costs for nickel pig iron are rising due to rising nickel prices and also higher coke input costs. Chinese coal mining and weather problems, leading toward a severe shortage of coke and the surge in coke prices, have placed a critical upward pressure on nickel pig iron production costs. We estimate that for 7% nickel content pig iron, the rise in coke prices over the past six months has almost doubled the coke input value from an estimated USD 4,300 per tones nic
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China to announce revised resource tax system in 2008
[2008-4-25 11:11:34] |
| China to announce revised resource tax system in 2008
Details of a new resource taxation system will be announced this year, an official with the State Administration of Taxation (SAT) said on Thursday.
The system is still being finalized, but sources have said that it may include a shift to taxation by price instead of volume and an expansion of the category of taxable resources. The goal is to end a situation where resources are lightly taxed to support economic development, which has in turn led to waste and pollution.
Yang Suizhou, vice director of the SAT's local tax department, told reporters that the agency was refining the plan to meet the requirements of the State Council, China's cabinet.
China wants to cut energy intensity by 20 percent, and emissions by 10 percent, between 2006 and 2010. Taxation is an important lever to achieve these goals.
Yang said that there is still no timetable for the introduction of a fuel tax. First proposed in 1994, the introduction of a
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Learn about the China Molybdenum Market
[2008-4-25 11:11:06] |
| Learn about the China Molybdenum Market
China's molybdenum market showed a steady decline in 2006 but the price still held high.
China produced 78,123 tons of molybdenum concentrate in 2005. As molybdenum mines in the Huludao area stopped production for regulation, the production was 6.48% less than 2004.
According to statistics, From Jan 2006 to Nov 2006, China's total output of molybdenum concentrate hit 86,895 tons, up 48.65% over 2005. Particularly, Henan topped the 1st in molybdenum concentrate production among Chinese provinces. Its total output of molybdenum concentrate was 38,338.4 tons by Nov. Compared to the same period of the previous year, the growth was 125%.
The molybdenum concentrate output in China is expected to increase at a pace of 10,000-15,000 tons per year in the next five years. In addition, the ferro molybdenum and molybdenum oxide outputs will also see an expansion. Presently many molybdenum projects are under construction or planned to start.
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Overseas trade less risky: Report
[2008-4-25 11:10:42] |
| Overseas trade less risky: Report
Chinese companies saw lower trading risks globally this year, especially in emerging economies, according to a report by export and credit insurer Sinosure.
Trading risks from emerging markets such as Russia, Eastern and Central Europe and Africa have seen an obvious drop,' said Tang Ruoxin, general manager of Sinosure.
Of China's major trading partners, Russia saw the biggest decrease, with its rating downgraded from 7 (high risk) to 5 (medium risk).
Strengthened economic power is the major reason for reduced risk in those countries,' a Sinosure analyst said.
As raw material prices rise, many developing countries, especially mineral-rich nations, have seen improved export remittance and more fiscal income, leading to stronger solvency capacities.'
Of the 53 countries in Africa, 22, or 41.5 percent, had a lower risk rating this year and only four countries, or 7.5 percent, had their rates downgraded, according to Sinosure's risk-analysis
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