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Mining

This tag is associated with 26 posts

China building 3 more large deep sea oil rigs to explore for oil in South China Sea


The following is based on a translation of a report in Chinese media: Global Times says in its report yesterday that it took 6 years and 6 billion yuan (USD940 million) for China to build its first homegrown deep sea drilling platform HD-981. The “9” in 981 means drilling ship, “8” means deep water while … Continue reading

A massive Chinese industry is flashing warning signs that the world cannot ignore


China’s steel industry, the world’s biggest, is in crisis. The disaster is the result of a combination of factors, including a slowing Chinese economy, falling commodity prices, and an industry loaded with debt. Earlier this month, state-owned enterprise (SOE) Sinosteel defaulted on a debt-interest payment of $315 million on bond notes maturing in 2017. It’s … Continue reading

China’s economy is worse than you think


China’s steel and metals markets, a barometer of the world’s second-biggest economy, are “a lot worse than you think,” according to a Bloomberg Intelligence analyst who just completed a tour of the country. What he saw: idle cranes, empty construction sites and half-finished, abandoned buildings in several cities. Conversations with executives reinforced the “gloomy” outlook. … Continue reading

Chilean titanium explorer seeks strategic partners in China


A fairly new entrant in the titanium space in Chile is looking to expand its business through joint-ventures with companies in Asia. The company, White Mountain Titanium Corporation (OTCQB:WMTM), has announced in a recent statement that it is currently scouting for investors in the Asian region, specifically in China, where demand for titanium dioxide is … Continue reading

Chinese nickel company in the black after registering record profits as a result of Indonesian bans


China’s second largest nickel company Xinjiang Xinxin Mining Industry revealed that it’s cash generative once again following a 300 percent rise in revenue for the 2014 fiscal period. According to a report on the South China Morning Post, the income boost was due to towering nickel prices last year, lower production costs, a new copper … Continue reading

China’s space program aims at destroying US navy and mining the moon


China’s gifted strategist Sun Tze says in his writings “The Art of War”: Knowing oneself and one’s enemy, one is never in peril in war. Knowing oneself but not one’s enemy, one has a half chance to win and a half chance to lose. Reuters says in its report “U.S. must invest to keep ahead … Continue reading

The Russian Far East: Russia’s land, China’s funds


The Russian Far East has always been a strategically important region to Russia because of its rich mineral resources and access to the Pacific Ocean, though it is largely neglected and underdeveloped compared to other regions in Russia.  More than 66 percent of Russian gold production comes from six eastern regions, including Amur, which is … Continue reading

Australian political leader calls Chinese government ‘mongrels’ and ‘bastards’ who ‘shoot their own people’


Clive Palmer has launched an extraordinary attack on China’s government, calling them “mongrels” who “shoot their own people”. The head of the Palmer United Party was being asked about his legal battle against a Chinese state-owned company on the ABC’s Q&A program last night. Mr Palmer accused the Chinese government of wanting to take over … Continue reading

China’s Nationalist Party ‘blows up’ at Kaohsiung


It started in 1990. Some may say it was in 1949 when the Chinese Nationalists retreated to Taiwan and imposed their tyranny and the governmental system that Chinese Communists would soon copy in Beijing. But this started in 1990 when CPC (中石化) built a gas line in Kaohsiung. Gas lines can rust if not buried … Continue reading

Chinese oil rig leaves disputed waters near Vietnam


A Chinese oil rig has left disputed waters near the Paracel islands in the South China Sea, a month earlier than scheduled, and more than two months after its deployment to waters also claimed by Vietnam. China claims to have found signs of oil and gas, the official Chinese Xinhua news agency said. Vietnam’s coastguard … Continue reading

Chinese people’s bad behaviour causes poor image in Africa, negative international rating


It’s perhaps coincidence, but Reuters’ report on China’s Xi Jinping not making global impact comes on the same day when Hong Kong newspapers SCMP and Ta Kung Pao report on China’s poor image in Africa due to Chinese people and companies’ behaviour there. Ta Kung Pao says in its report as an increasing number of … Continue reading

Chinese media says “Vietnam doomed to lose”


The following is translated from Chinese media: Due to instability in the Middle East, China has determined to extract the oil and gas in the disputed waters in the South China Sea. China has the equipment and technology to do that. The problems are what other claimants to the disputed waters will do to stop … Continue reading

China urges peaceful development of seas by all countries, while not following its own advice


China, involved in a growing dispute with its neighbours over the energy-rich South China Sea, wants to promote peaceful development of the oceans, Premier Li Keqiang said, warning conflicts in the past had only brought “disaster for humanity”. China claims almost the entire ocean, rejecting rival claims to parts of it from Vietnam, the Philippines, … Continue reading

China sends four oil rigs to South China Sea amid regional tensions


China has sent four more oil rigs into the South China Sea in a sign that Beijing is stepping up its exploration for oil and gas in the tense region, less than two months after it positioned a giant drilling platform in waters claimed by Vietnam. The announcement comes at a time when many countries … Continue reading

Vietnam dispatches 29 ships to intercept Chinese oil rig in South China Sea; standoff with 80 Chinese ships


Vietnamese naval vessels and Chinese ships collided Wednesday, a Vietnamese government official said, as Hanoi sought to prevent a Chinese oil rig from setting up in a disputed part of the South China Sea. The official said no ammunition had been fired and there were no reports for injuries as a result of the standoff, … Continue reading

China leads mission to explore South China Sea for oil – 1800 kms from China


China will lead an expedition into the South China Sea, 80 kilometres off the coast of Malaysia and 1,800 kilometres from the Chinese mainland – territory China claims as it’s own. The first scientific ocean drilling expedition led and sponsored by China sails from Hong Kong tomorrow into the South China Sea – the subject … Continue reading

China to explore for seabed mining, develop deep-sea tourism


China has recruited six trainees of deep-sea submersible operators and been building its State Deep Sea Base in Qingdao. The six trainees will take a 2-year course and be certified operators after passing the examination. By that time, China will have eight deep-sea submersible operators. There are two female trainees among the six. It is … Continue reading

US investment in Australia helps both countries in China


Massive investments by the US in Australian resources projects are helping both nations develop a healthy relationship with China, says departing American ambassador Jeffrey Bleich. “People like to spin out doomsday scenarios,” Mr Bleich told The Australian in a farewell interview. “They sell books and newspapers,” he said, of the view that China and the … Continue reading

China races foreign rivals to mine seabed for valuable minerals


China can now explore the seabed for up to three valuable minerals but it faces a major challenge to close the mining technology gap with the West With China recently achieving its long-held desire to exploit untapped underwater resources, a new method of sustaining its rapid economic development appeared to be secure. The award of … Continue reading

Laos seeks Chinese help to survey its mineral wealth


Laos is seeking help from the Chinese government to conduct detailed surveys of its mineral wealth, aiming to use the information to help regulate the mining industry. Deputy Minister of Energy and Mines Somboun Rasasombath said as quoted in the South China Morning Post this week that he would discuss the matter with Chinese Deputy … Continue reading

No usable oil in disputed areas of the South China Sea?


An US government report on oil and gas reserves in the heavily disputed regions of the South China has concluded that there probably aren’t any. The study concludes for the first time that the countries expecting riches under the Spratly and Paracel Islands are going to be disappointed. Nothing but politics and nationalism? The research … Continue reading

China’s Citic fail to pay $400 million in Australian contract; can’t comprehend “rule of law” concept


Up to $400 million in royalty and purchase payments due to Queensland mining magnate Clive Palmer are in dispute and have not been paid, as a rift widens between him and China’s Citic Pacific, the builder of the troubled $US8 billion ($7.8bn) Sino Iron project in Western Australia. Hong Kong-listed Citic has said it is … Continue reading

China secures potential Cambodian iron ore


Chinese firms to build a railway, a steel mill and seaport for iron and steel mining to facilitate the transportation of Chinese-mined Cambodian iron ore to China? A “Cambodian” company (a consortium of Chinese metal companies) and a Chinese firm signed a Memorandum of Understanding (MoU) to build a railway and seaport in Cambodia to … Continue reading

Mongolia: can’t live with China, can’t live without China


Mongolia and China have never exactly gotten along. For the past millennium the two countries invaded and ruled each other in turn. In the thirteenth century, Kublai Khan swept into China and founded the Yuan dynasty, putting Mongolians on the Chinese throne for nearly a century. Then in the 17th century Mongolia was conquered by … Continue reading

China illegally mining iron ore in India says report


China prominently features in a probe report on illegal iron ore mining in Goa, which warns that while the eastern neighbour is gobbling up India‘s iron ore reserves, the future might see a reversal of the trend. The Justice M B Shah Committee’s exhaustive report has pegged Goa’s mining scam at nearly Rs 35,000 crore. … Continue reading

China raises rare earth export quota


China has increased its 2012 rare-earth export quota for the first time since 2005, amid growing international pressure on Beijing to loosen its hold on the key minerals. The country’s rare-earth export policies are closely watched as it controls 95% of the world’s production of the metals, which are crucial in a wide range of … Continue reading

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