• CHINA - China Gold buys shares for debt settlement

    China Gold Pte Ltd has acquired an additional 1,497,600 common shares in the capital of Asia Now Resources Corp at a deemed price of $0.05 per share to settle quarterly interest payment obligations accrued from October 1 to December 31, 2014 in the aggregate amount of $74,880.

  • CHINA - Shale gas liquefaction plant operating

    Jereh Group has successfully finished China’s first shale gas liquefaction plant in Sichuan. At this phase, the plant will produce 2.47 million cubic feet of LNG per day and the second phase, which will provide daily capability of up to 10.59 million cubic feet, will start construction this month and create 30 direct jobs.

  • CHINA - Asia Now shares for debt settlement

    Asia Now Resources Corp proposes to issue 1,497,600 common shares in the capital of the corporation to settle quarterly interest payment obligations in the aggregate amount of $74,880.

  • CHINA - Waste gas recovery project completed

    The world’s largest facility to turn excess methane gas from coal mines into electricity has been completed in coal-rich Shanxi Province, state-run Xinhua news agency reported. The facility could help China reduce its emissions.

  • CHINA - Silvercorp re-appoints CEO

    Silvercorp Metals’ founder and chairman Dr Rui Feng is being re-appointed to the chief executive officer position. The Board of Directors welcomes Dr Feng’s return to the CEO position, a role he held from September 2003 until October 2013.

  • CHINA - Coal tariffs to be cut

    China will cut its export tariffs for coal from January 1, 2015, after intense lobbying by the China National Coal Association. The lobbying follows a slump in coal prices which has put nearly 70% of the country’s miners in the red.

  • CHINA - Fox Marble signs sales deal

    Fox Marble has signed a sales deal with Zhong Shengdestone (ZSC), which is headquartered in Beijing. This should see Fox Marble earn incremental revenues of between US$2.5 million and US$5.0 million if sales through ZSC hit minimum target levels.

  • CHINA - New Sawayaerdun estimate soon

    GobiMin Inc expects to release a new resource estimate for the Sawayaerdun Gold Project in Xinjiang early in 2015. The new NI 43-101-compliant estimate is being prepared by Mining One Pty Ltd following a visit to the project in October.

  • CHINA - Processing resumes at Caijiaying

    Commissioning of the significantly refurbished and upgraded processing facilities at Griffin Mining’s Caijiaying Zinc Gold Project in Henan Province is under way. This process follows the suspension of processing announced on August 13, 2014, to provide for the expansion.

  • China funds dry up for magnetite

    Magnetite stockpiled at Grange Resources’ Savage River project in Tasmania. Photo courtesy Grange Resources.THERE will not be any significant immediate term funds to come out of China for magnetite iron projects in Australia or internationally, according to advisory firm PCF Capital, which also warns of pending swings in global competition for exploration funds. The market changes also raise the spectre of ‘shadow bank’ operatives becoming a temporary force in mine project funding – but at much higher risk than conventional bank-based debt.

  • Zijin establishes metal exchange

    In late August the Zijin Mining Group established the Zijin Global Electronic Metal Exchange after receiving approval of the Shenzhen Financial Development Services Office. The exchange, a third party metal trading platform, has been set up in the Shenzhen Qianhai Cooperation Zone.

  • Galaxy receives second payment

    Galaxy Resources has received the second US$15 million tranche from Sichuan Tianqi Lithium Industries for the sale of Galaxy Lithium International Ltd (GLIL), the parent entity of the Jiangsu Lithium Carbonate Plant.

  • Shandong Gold Mining acquisition

    Shandong Gold Mining Co Limited’s wholly-owned subsidiary is acquiring a mining right in Sizhuang, Shandong Province, from Shandong Gold Group Co for consideration of almost 600 million Yuan.

  • Xinxin starts new smelter

    Xinjiang Xinxin Mining aims to boost refined copper output by 15 times in the second half of 2014. The start-up of a new smelter is expected to result in the company increasing production from 3830 tonnes in the first half of the year to 60,280 tonnes.

  • Magontec to provide magnesium equipment

    The Qinghai Magnesium Project under construction. Magontec’s plant and equipment will be installed in the cast house.The Qinghai Magnesium Project under construction. Magontec’s plant and equipment will be installed in the cast house.

  • Minco Silver continues approval efforts

    CAPTION: The proposed surface layout of the processing plant and other facilities at Minco Silver’s Fuwan project.MINCO Silver is continuing efforts to obtain environmental approval and permitting before seeking a mining licence for Fuwan Silver Project in Guangdong Province. As part of this process the company’s Chinese subsidiary Foshan Minco hosted a site visit for officers from Guangdong Environment Protection Administration (EPA) and has had continuous discussions on the EIA approval with various government agencies.

  • DXAL joint venture in final phase

    The Daxinganling area of Heilongjiang Province is recognized as one of China’s key strategic mining zones.THE establishment of a joint venture company for exploration and development of gold prospects in the prospective Daxinganling (DXAL) region of Heilongjiang province has reached its final phase. The JV will be between gold mining exploration and advisory company China Shouguan Mining Corporation and the Daxinganling government.

  • Drilling under way at Baimashi North

    CAPTION: Soil sampling results from Minco Gold’s Baimashi North prospect which were used to plan a new drilling program.MINCO Gold Corporation is drilling at the Baimashi North target in the Yejiaba region of Gansu Province. The drilling program, consisting of 1200 metre core drilling in six holes, is designed to test a target area with strong gold anomalism.

     
  • Hengxing Gold production ramps up

    The Gold Mountain project is in the northwest of China’s vast Xinjiang region.NEWLY Hong Kong listed company Hengxing Gold Holding, a business majority owned by Chinese billionaire KE Xiping, has installed an additional vertical impact crusher at the Gold Mountain project in Xinjiang region. The crusher is expected to improve the gold recovery rate at the project by reducing the size of fine crushed ore.

  • Significant gain in Ying resources

    Geology of the Ying Mining District in the west of Henan Province.THERE has been a significant gain in measured and indicated mineral resources at Silvercorp Metals’ Ying silver-lead-zinc mining district in Henan Province. An updated NI 43-101 Technical Report reveals a 52% increase in tonnage and 12% and 8% increases respectively in contained silver and lead resources when compared to the 2012 Technical Report.

     

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