China to provide policy support to overseas
[2008-12-23 17:03:34]
China to provide policy support to overseas
November 03, 2008
China to provide policy support to overseas mineral investment
It is reported that the officials from Ministry of Land andResources as saying that, China should participate in globalmineral resource utilization. He added that China will support andencourage overseas investment by Chinese mineral enterprises inpolicy aspect.
Mr Peng Qiming, Director of International Cooperation & ScienceDepartment of MLR said that, China takes part in global cooperationto gain a win won result. He said that exploration and exploitationin overseas countries by domestic enterprises are businessactivities. Chinese government will not directly intervene in thisexcept policy support and encouragement and that is also the casein other countries.
According to MLR released the country would accelerate overseasexploration and exploitation besides similar moves in China, in abid to gain badly needed minerals that are with huge domesticpotential, such as iron, copper and aluminum. For minerals likechrome, nickel, manganese and so on, MLR urged to strengthendomestic potential exploration, and encouraged domestic enterprisesto buy into foreign mining companies to seek stable internationalsupply. Dependency on foreign resources is asked to be limited in60% to 95%.
Mr Zeng Shaojin, Vice Chairman of China Mining Association saidthat in the meanwhile foreign funded enterprises only take no morethan 1% in China's domestic mineral market. He said that that thereis no substantial change in supply and demand relationship. China'ssteel output will keep rising due to infrastructure constructions,and this will boost demand for iron ore. Insufficient cyclingutilization in steel industry also increases the country'sdependency on iron ore. He said that "In the United States, only40% of steel output is from iron ore and the rest come from cyclingutilization of steel products. But in China, 94% of steel output ismade from iron ore."
He added that "On account of various factors includingspeculations, iron ore benchmark prices are usually agreed at highlevels. This is especially the case in this year. Domestic pricestarted to drop one month after the agreement. However increasingdomestic ore output would impact international price and wouldbenefit China.”
http://steelguru.com/news/index/2008/11/03/Njk1NzI%3D/China_to_provide_policy_support_to_overseas_mi [2008-11-4]
Tag : manganese ore Chrome MineNovember 03, 2008
China to provide policy support to overseas mineral investment
It is reported that the officials from Ministry of Land andResources as saying that, China should participate in globalmineral resource utilization. He added that China will support andencourage overseas investment by Chinese mineral enterprises inpolicy aspect.
Mr Peng Qiming, Director of International Cooperation & ScienceDepartment of MLR said that, China takes part in global cooperationto gain a win won result. He said that exploration and exploitationin overseas countries by domestic enterprises are businessactivities. Chinese government will not directly intervene in thisexcept policy support and encouragement and that is also the casein other countries.
According to MLR released the country would accelerate overseasexploration and exploitation besides similar moves in China, in abid to gain badly needed minerals that are with huge domesticpotential, such as iron, copper and aluminum. For minerals likechrome, nickel, manganese and so on, MLR urged to strengthendomestic potential exploration, and encouraged domestic enterprisesto buy into foreign mining companies to seek stable internationalsupply. Dependency on foreign resources is asked to be limited in60% to 95%.
Mr Zeng Shaojin, Vice Chairman of China Mining Association saidthat in the meanwhile foreign funded enterprises only take no morethan 1% in China's domestic mineral market. He said that that thereis no substantial change in supply and demand relationship. China'ssteel output will keep rising due to infrastructure constructions,and this will boost demand for iron ore. Insufficient cyclingutilization in steel industry also increases the country'sdependency on iron ore. He said that "In the United States, only40% of steel output is from iron ore and the rest come from cyclingutilization of steel products. But in China, 94% of steel output ismade from iron ore."
He added that "On account of various factors includingspeculations, iron ore benchmark prices are usually agreed at highlevels. This is especially the case in this year. Domestic pricestarted to drop one month after the agreement. However increasingdomestic ore output would impact international price and wouldbenefit China.”
Source: 沱沱网
Keywords:Industrial Supplies
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