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China to promote capacity restructuring in steel, coal, coal-fired power

By: Reuters     9th May 2019 China will encourage mergers and restructuring in the steel, coal and coal-fired power sectors this year as part of its campaign to mainstream heavy industry, the country's economic planner said in a statement on Thursday. China will eliminate all "zombie firms" by forcing them to write off or... 

Rio Tinto shipping more aluminium to Europe as US demand slows

By: Reuters     9th May 2019 Rio Tinto has begun shipping more aluminium to markets like Europe to offset slowing demand from the US partly caused by the trade dispute between China and the US, CEO Jean-Sébastien Jacques said on Thursday. Jacques said that demand for Rio Tinto's products had not been impacted by the... 

Oracle’s Chinese partners commit to changing equity holdings in Pakistan project

By: Simone Liedtke     29th April 2019 As part of the China Belt and Road Summit, held in Beijing on April 27 and 28, Beijing Jingneng Power Company (BJPC) and PowerChina International, have ceremonially signed a memorandum of understanding that will result in a change in the equity shareholding in the Thar Block V1 lignite coal mine... 

Ncondezi Energy JDA entering final phase

By: Tasneem Bulbulia     29th April 2019 Ncondezi Energy has entered into the final phase of negotiations with its strategic partners, China Machinery Engineering Corporation and General Electric South Africa, to sign a binding joint development agreement (JDA) for the company’s integrated 300 MW power and coal mine project in Tete,... 

China's Australian coking coal imports double in March from Feb

By: Reuters     25th April 2019 China's imports of Australian coking coal nearly doubled in March from a month earlier, customs data showed on Thursday, as a flurry of shipments were accepted after being delayed at customs clearance for more than a month. Arrivals of Australian coking coal were at 2.23-million tonnes last... 

Tiffany training Africans to cut diamonds sourced from the region

By: Bloomberg     15th April 2019 Tiffany & Co has been expanding its workforce in sub-Saharan Africa – a region of almost one billion people where the jewellery giant does not have a single store. More than a quarter of the New York-based company’s 1 500 global diamond cutters and polishers are now based in Africa, CEO... 

Profitable coal trade beckons buyers brave enough to test China

By: Bloomberg     5th April 2019 Its high quality and the price is a bargain, but the risk may be too great for Chinese buyers looking for a quick profit. Newcastle thermal coal prices have lost almost $20 a ton, or almost 19 percent, since early March, making supplies from Australia cheaper than Chinese domestic grades for the... 

Chalco leapfrogs Rusal as second-biggest listed aluminium producer

By: Reuters     29th March 2019 China's Chalco said on Friday it boosted annual aluminium output by 16% in 2018, putting it ahead of Russia's Rusal as the world's second-biggest publicly traded producer of the metal. The increase underscores China's growing dominance of the global aluminium market, as the world's biggest... 

China’s ambitious Belt and Road hinges on international cooperation – BHP

By: Esmarie Iannucci     25th March 2019 Diversified major BHP CEO Andrew Mackenzie says that the success of China’s Belt and Road initiative will hinge on cooperation within the international community. Speaking in Beijing at the weekend, he noted that the ambitious infrastructure initiative, which, like the ancient Silk Road trade... 

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