China to Further Open Its Mining Sector to Foreign Investors

Nov. 4 – “The Chinese government has attached great importance to the mining industry’s contribution to the country’s economic growth,” said Jiang Daming, Minister for land and resources at the 2013 China Mining Expo in Tianjin. The government will simplify the approval process and management of mining resources, with improving the convenience and efficiency of investment in the sector, according to Jiang.

Many foreign companies have shown an interest in China’s mining industry, At present, about 50 companies are registered members of the Global Mining Association of China, according to Peter Arkell, chairman of the association. China opened its mining sector to foreign investors in 2000, when it announced a policy to allow foreign companies to apply for mining exploration rights in China. According to China reporting, between 2002 and 2008, there was a boom in foreign companies coming to China for mining exploration. At its peak, more than 200 foreign companies were conducting mining operations in China.

At this very moment, there are more than 4,000 delegates from over 40 countries to attend “2013 China Mining Expo” from Nov 2 to 5, 2013 in Tianjin. The China Mining Congress and Expo has been an annual event since 2005 held jointly by the Ministry of Land and Resources and the Tianjin government, to strengthen international cooperation in the mining industry.

Russian coal mines already start to seek new outlets in China, Russia, with the world’s second-largest recoverable coal reserves (mostly in Eastern Siberia and the Far East) can offer high-quality coal at low prices.

German mining equipment manufacturers to enhance ties with China, to continue their good and fruitful cooperation with the mining industry in China as its exports to China have risen during the first half of the year, said Paul Rheinlaender, chairman of the VDMA Mining Equipment Association, on Tuesday in Beijing.

African Minerals announced that Tianjin Materials and Equipment Group Corp, also called Tewoo, one of China’s largest iron-ore trading companies, agreed to pay $990 million for a 16.5 percent stake in the iron ore miner African Minerals’ Tonkolili mine in Sierra Leone, which is valued at $6 billion. For report on “China Coal Mining Market Overview and Forecast 2013-2015”available upon request, contact with DCCC or mail to: info@dccchina.org