mineral buyers

Posts Tagged ‘China’

China’s iron ore production in 5 years, 1.3 billion tons of excess headings: China iron

The Chinese economy still needs a lot of iron, but the country relies on increasingly expensive exports of iron ore. Therefore, the government invests heavily in exploration and purchases of foreign mines.

The shortage of iron ore in China is expected to gradually be attenuated by the discovery of more deposits in the domestic and the acquisition of more and more mines abroad, an industry expert said on Wednesday in Tianjin. Iron ore production was expected to exceed China’s within three to five years, 1.3 billion tons, said Zhou Zhongshu, president of China Minmetals Corporation, China’s currently being held at the mine Conference and Exhibition. The domestic iron ore supply increased steadily over the past two years, said Zhou. Last year, China’s investment in the mineral exploration rose by 17 percent or 27 billion yuan (2.98 billion euros) over the previous year, the name of the Ministry of Land and Resources. In the past 12 years, China had over 900 new reserves, including 152 large and super large, discovered, so the statistics of the Ministry.

Acquisitions abroad. In the first nine months of 2010, the iron ore production in China increased by 26 percent to 780 million tonnes compared to the same period last year. In addition, the iron ore imports fell during the same period by 2.5 percent to 460 million tonnes, while in 2009 was still recorded an increase of 41.6 percent. The mining companies in China are now looking for opportunities to acquire mines abroad and to guarantee the supply, said Zhou.

The share of iron ore mines abroad, including those under construction, supply one year yield of 190 million tons of iron ore, which are 30 percent of the imports of the country, he said. The China Minmetals Corporation is the largest iron and steel trader in China. The company, based in Beijing has its main business area in the production of and trade in metals and minerals, including copper, aluminum, tin, lead, zinc and nickel.

DCM is working with China
The Orient Chinese Zirconic participates in the Australian Zirkonmine the Styrian DCM Deco Metal. Even with chrome wants to get the Chinese on board.

Fürstenfeld. The Fürstenfelder ore, metal trading and mining house DCM Deco Metal intensified its cooperation with China: The Chinese-listed companies Orient Zirconic has joined with 65 percent of the Australian Zirkonmine of DCM.

“Orient Zirconic is a great zirkonium buyer, from many synergies for us,” head of DCM-Rohtraut convinced Skatsche-Depisch. The good relations with China, according to DCM also expressed in the fact that the new Chinese Ambassador to Austria, Shi Mingde, the company at the date of signing of the contract has visited East Zirconic.

The chrome area is currently negotiating with the major Chinese steel company Sinosteel through participation in the chrome ore mines of DCM in Albania and South Africa. Sinosteel already refers 60th year 000 tonnes of high-grade chrome ore from DCM. Sino Steel employs over 40,000 people and has around 100 holdings. DCM currently about 1,500 employees work.

450 million € turnover

For this year expects sales Skatsche-Depisch 400-450 million €. About one-third will come from the mining area, the rest from the market. “The economic crisis in commodities has taken longer than we originally thought, which has thrown us back a few years,” says Skatsche-Depisch.

The conversion of DCM from a trading house to mine and melt operator is in any event have been the right decision. The proportion of sales of the mining will not initially increase Skatsche-Depisch: “We have just the vertical integration of the new range complete, we must be careful that it does not accept it.”