Extreme pollution forces China to shut down hundreds of coal, steel operations
China is stepping up its war on pollution by forcing hundreds of coal and steel companies to close or slash output in light of their transgressions to environmental and safety regulations.
China’s Closing Coal Mines Too Slow to Meet Capacity-Cut Targets
China urged state-owned coal producers to accelerate mine closures in order to meet year-end targets as part of President Xi Jinping’s drive to curb industrial overcapacity.
Thermal coal price hits 10-month high as Chinese buyers snap up cargoes
A crackdown by the Chinese government on surplus thermal coal has had a knock-on effect on the price – spelling good news for miners of the fuel that investors and energy consumers love to hate.
Chinese miners eye Glencore’s Kazakh gold operation
Chinese firms Zhongjin Gold Corp., Shandong Gold Mining Co. and Zijin Mining Group Co. are said to be competing for Glencore’s (LON:GLEN) gold mine in Kazakhstan, which the miner and commodities giant put up for sale earlier this year.
Copper, nickel prices retreat on weak Chinese export data
Well, that was shortlived. The rally that had investors clambering back into mining stocks came to an abrupt end today, as disappointing export data from China showed continuing signs of weakness in the world’s top commodities consumer.
Coal Prices Bottomed: China Metals & Mining Market Insight
Jefferies Hong Kong Limited believes coal prices have bottomed. QHD coal prices have increased Rmb19/ton from 4Q15 lows. Certain mine mouth prices have also ticked up. Low prices and “supply side reform” are quickly eliminating capacity. However, with demand plummeting and low-cost capacity still restricted, we believe prices will not materially recover. Output, however, should [...]
China’s Shenhua becomes net exporter of coal
China’s largest coal miner, Shenhua, saw coal production fall 8.4% in 2015, according to its latest operational data released to the Hong Kong Stock Exchange. Coal sales fell by 17.9%, while coal imports collapsed by 97.1% to just 200 000 t – and nothing in December 2015.
Chinese coal demand heads lower on high renewables growth
China is turning away from coal it a faster-than-expected pace, according to new figures from the China National Energy Agency, as the country’s economic slowdown reduced electricity demand growth. Official GDP growth was 6.9% in 2015, its lowest level in a quarter of a century, but many analysts believe that the actual rate of growth [...]
China shutting another 4,300 coal mines
China, the world’s largest coal consumer, is stepping up efforts to cut the share of coal in its overall energy mix and consequent smog and greenhouse gas emissions by investing $4.6 billion (30 billion yuan) to close small and inefficient operations across the country.
China won’t approve new coal mines until 2019
China, the world’s largest coal consumer, has decided to halt new coal mines approval for the next three years while it continues cutting output at existing operations, in a new effort to shrink both oversupply and a worsening pollution crisis.
Analysing Longmay’s workforce reduction
In September 2015, Longmay Group, one of the large, Chinese state-owned metallurgical coal miners based in Heilongjiang Province, announced plans to reduce the headcount of its coal mining operations by approximately 100 000 during the following three months. The headcount reduction will be achieved through a combination of mine closures of old mines with depleting [...]
World’s Second-Biggest Miner Unfazed by China Growth Pessimists
The head of the world’s second-biggest mining company says he’s unfazed by pessimism around China’s ability to meet official economic growth forecasts that are critical to the fortunes of the embattled industry.
China’s coal slide
Once praised as the fount of eternal growth, China has become the bearer of bad news for the coal industry. The world’s second largest economy is beating up its once beloved fuel with a combination of slower growth, weak energy demand, a persistent supply glut, industrial accidents, currency devaluations and tightening environmental restrictions.
China’s new 5-year plan brilliant news for mining
The end of China’s one-child policy has grabbed all the headlines, but the Fifth Plenary Session of the 18th Central Committee of the Communist Party of China (to give its full designation) also outlined the direction of the world’s second largest economy over the next five years.
China launches massive military manhunt for coal mine killers
An area double the size of Manhattan has been cordoned off as authorities pursue suspects following a coordinated knife attack that killed 60 workers at a northwestern Chinese coal mine, reports the FT.
Fifty killed in a knife attack at a Chinese colliery
Nine suspects are being pursued after they launched a coordinated knife attack and killed 50 workers at a northwestern Chinese coal mine, reports Radio Free Asia.
Chinese coal company to cut 100 000 jobs
A Chinese coal producer has announced massive job cuts as it struggles against industry overcapacity and falling coal prices. Heilongjiang Longmay Mining Holding Group Co Ltd, the largest coal miner in northeast China, will layoff 100 000 words – or about 40% of its workforce.
China’s cap-and-trade more bad news for coal price
China burns almost as much coal as the rest of the world combined and is reliant on the fossil fuel for two-thirds of total energy consumption and 80% of its electricity generation.
China Effect Seen as ADB Cuts Asian Growth Forecasts Again
China’s declining appetite for energy, metals and other commodities will hurt commodity-focused export economies, including Mongolia, Indonesia, Azerbaijan, and Kazakhstan, the Asian Development Bank said.
China Has a Plan to Take Over Central Asia — and America Loves It
LAHORE, Pakistan — Moments after landing at Lahore’s international airport one ordinary day in September, crowds of Chinese professionals jockeyed for position in an immigration line that was as long as it was slow. For airport officials in Pakistan’s second-largest city, the sudden influx of Chinese nationals was unremarkable: The same thing is happening in [...]