• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
European Commission President Ursula von der Leyen: Europe is facing a housing crisis. We plan to establish a "European Housing Union" and hold a high-level summit on European housing issues.Kremlin spokesman Dmitry Peskov: The Russian Federation has completely liberated Konstantinovka (located in the central Donetsk region of eastern Ukraine).July 4th - A Reuters survey showed that OPEC crude oil production rebounded sharply in June, increasing by approximately 3.3 million barrels per day to 19.43 million barrels per day, a significant rebound from the more than two-decade low reached in May, but still far below quota levels. This production increase was mainly driven by the resumption of supply from Gulf countries, with Kuwait seeing the largest increase, followed by Iran, Saudi Arabia, and Iraq. Nigeria and Libya also saw slight increases in production. The UAE withdrew from OPEC on May 1st and is no longer included in the statistics. The report noted that the previous war with Iran and the de facto blockade of the Strait of Hormuz had caused supply disruptions, but the subsequent lifting of restrictions on ships at Iranian ports by the United States helped to restore some production. Although OPEC+ had planned to increase production in June, it could not be fully implemented due to the war. Overall, global crude oil supply is recovering, but has not yet returned to normal levels.Iranian Parliament Speaker Ghalibaf: The United States must "accept the established realities in the trade arena."Hang Seng Index futures closed down 0.2% at 23,253 points in overnight trading, a discount of 97 points.

Chinese Companies Want More Mining to Boost Supplies

Haiden Holmes

Nov 10, 2022 14:38

1.png


China's top copper producers are urging the government to mine more of the metal locally and internationally, China Nonferrous Metals News said Wednesday.


Jiangxi Copper Co Ltd, Zijin Mining, Tongling Nonferrous Metals Group Co Ltd, and others urged authorities on Tuesday to start new mineral exploration and mine development.


Concerns are growing regarding the global supply of copper, which is utilized in transportation, construction, renewable energy, and electric cars.


Las Bambas copper mine in Peru, operated by Chinese miner MMG Ltd, has scaled down operations due to blockades by local organizations.


Chile's Codelco will extend smelter maintenance from 90 to 135 days.


China imports 25% of its copper needs.


At the meeting, Chinese corporations allegedly suggested mining companies should dig deeper and broader to lengthen mine life, while smelting companies should expedite foreign resource development and optimize their design across the industrial chain.


Chinese miners face growing competition for rare minerals elsewhere.


Canada ordered three Chinese corporations to withdraw from Canadian resources this week, citing security concerns.


China imported 23.40 million tons of copper ore and concentrate last year.