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Petroleum / Mining in China

  • Chinese Firm to Invest US$2.8 Billion in Guinean Bauxite Operation

    CHINA, 2018/01/08 The Republic of Guinea’s mining ministry disclosed yesterday its approval of a US$2.8-billion investment in a fully-integrated aluminium operation around a domestic bauxite mine by the Chinese transformer-production firm Tebian Electric Apparatus Stock Co., Ltd. (TBEA). According to secretary-general of the mines ministry Saadou Nimaga elaborated by saying that the mine is expected to begin producing bauxite in the summer of 2019 starting with a production rate of 10 million metric tons per annum. The mine’s production rate will triple in 2020, he explained. The summer of 2021 should see the completion of an alumina refinery, continued Nimaga, specifying that it would have a capacity of 1 million metric tons per annum upon completion.
  • Aluminium Poised for Greater Gains in 2018: Nalco’s Chand

    CHINA, 2018/01/07 A top Indian aluminium industry executive sees a strong 2018 ahead thanks to less of the metal emanating from the People’s Republic of China, an increased thirst for it in North America and Europe, and a rise in input costs. Chairman and Managing Director of National Aluminium Company (Nalco) and Aluminium Association of India president Dr. Tapan Kumar Chand told domestic media that the world price of the metal, which reached a three-year high of US$2,246 per metric ton last month, could see an development of as much as US$150 per metric ton in the current year.
  • Sources Say Hindalco Offering US$2.5 Billion for Rolled Aluminium Firm Aleris

    CHINA, 2018/01/07 Hindalco Industries Ltd. has tendered an offer to buy Cleveland rolled aluminium firm Aleris International, Inc. for US$2.5 billion according to unnamed sources who spoke to Reuters before this week. According to the unnamed sources, the move is part of Kumar Mangalam Birla’s continuing gambit to grow his world industrial footprint. Per the sources, the offer was a non-binding bid submitted via Hindalco’s United States subsidiary Novelis Inc.
  • North Korea: South seizes ship amid row over illegal oil transfer

    CHINA, 2017/12/30 South Korea has revealed it seized a Hong Kong-registered ship last month suspected of supplying oil to the North in breach of international sanctions. Officials said the Lighthouse Winmore had secretly transferred 600 tonnes of refined oil to a North Korean ship. A UN Security Council resolution bans ship-to-ship transfers of any goods destined for Pyongyang.
  • China’s Aluminium Production Drops for Second Consecutive Month

    CHINA, 2017/09/16 In a sign that China’s aluminium juggernaut may finally be losing steam, numbers from the Middle Kingdom indicate that the country’s non-ferrous metals output reached a one-year nadir last month. Production of ten non-ferrous metals, namely copper, aluminum, lead, zinc, nickel, tin, antimony, mercury, magnesium, and titanium, dropped by 2.2 % last month to a total output of 4.42 million metric tons. Though China’s aluminium sector has churned out 22.17 million metric tons over the year’s initial eight months, good for a 6.1-% rise year-on-year, primary aluminium production fell by 3.7 % year-on-year in August. That was the second consecutive month of declines, dropping output to the lowest level it’s been since April 2016. The official data, which was released yesterday, represents the country’s lowest in general output in twelve months and is the initial year-on-year decline since December 2015.
  • China to Loan Guinea US$20 Billion for Access to Bauxite Reserves

    CHINA, 2017/09/13 The Republic of Guinea will be the recipient of a US$20 billion loan from the People’s Republic of China in exchange for concessions on its significant bauxite ore reserves. According to reporting yesterday by Reuters, the loan will be disbursed over twenty years. The loan will be guaranteed by in-country projects 125 miles northeast of Conakry at Boffa inclunding China Power Investment Corp’s (CPI) planned alumina refinery, a bauxite mine operated by the Aluminium Corporation of China Limited (Chalco), and a bauxite-mining project operated by China Henan International Cooperation Group.
  • China to loan Guinea $20 billion to secure aluminum ore

    CHINA, 2017/09/13 China agreed on Wednesday to loan Guinea $20 billion over almost 20 years in exchange for concessions on bauxite, an ore of aluminum which the West African country has in abundance, the mines minister said. The projects guaranteed by the loan included China Power Investment Corp’s (CPI) planned alumina refinery and Aluminium Corp of China’s (601600.SS) (Chalco) bauxite mine and an extra bauxite project by China Henan International Cooperation Group, all of them in the northwestern town of Boffa.
  • Russia's Rosneft inks oil production & supply deal with China

    CHINA, 2017/09/07 Russian oil major Rosneft has announced a strategic cooperation agreement and long-term oil supply arrangement with CEFC China Energy Company. The transaction was sealed on the sidelines of the BRICS Summit in Xiamen, China. According to Rosneft, the agreement would see the development of exploration and production projects in Western and Eastern Siberia. The two companies as well agreed to cooperate in refining, petrochemicals and crude trading.
  • Russian firm seals energy exploration deal to drill South African shelf

    CHINA, 2017/09/07 Russia’s geological research company Rosgeo and South African national oil company PetroSA have signed an offshore drilling agreement on the sidelines of the of the BRICS Summit in Xiamen, China. The transaction is worth an estimated $400 million over the next 10 years. Rosgeo aims to start exploring two blocks off the country's south coast. The agreement covers a huge all of geological exploration work, inclunding drilling exploratory wells.
  • Turkmenistan should cultivate diverse gas markets

    CHINA, 2017/08/26 Turkmenistan-China gas relationship may be viewed as one country's over-dependence on an extra, Sean Roberts, an expert on Central Asia and Associate Professor of the Practice of International Affairs, told Trend commenting on the construction of Tajik section of the Turkmenistan-Uzbekistan-Tajikistan-Kyrgyzstan-China gas pipeline launched last month. “One one hand, it is easy to understand why Central Asia states are increasingly attracted to trade deals and investment from China. For Turkmenistan and other Central Asian states, China offers economic relationships that are not overtly tied to political issues,” he said.