Category Archives: Mining

Discovery of world-class tungsten mine in Jiangxi Province

Jiangxi Provincial Bureau of Geology and Mineral Resources, announced recently a world-class tungsten mine was discovered in Northeastern Jiangxi”s Fuliang County. Based on the current calculation, the amount of tungsten copper mixture has more than 100 million tons. This is the second discovery of world-class tungsten mine since 2010 in Jiangxi Province. Thus, Jiangxi as the “world tungsten capital” will be enhanced further.

200 billion yuan(US $32 billion) gold mine discovered in Xinjiang Province

After five years of exploration and evaluation, the Xinjiang Geology and Mineral Resources department recently announced the discovery of a large gold mine in the Ili River Valley which is located in the northwest border of the Xinjiang Province. It is reported that the new gold mine may have a gold reserves of 53 tons, and the output is expected to reach hundreds of tons in the long-term, the potential economic value of the mine reaches 200 billion yuan(US $32 billion).

a coal mine gas accident happened in Sihuan killed 27

According to the latest news of the Sichuan Provincial Government website, a coal mine gas accident happened in the Luding County of Luzhou City. A total of 81 people were rescued (5 seriously injured and 11 people slightly injured), 27 people were killed. Rescue team has been sent and case is currently under investigation.

Liabilities of China National Petroleum Corporation (CNPC) increased by 80% in four years to 988.1 billion yuan or US $158.1 billion

According to Wind statistics, among the Chinese companies that have released their 2012 annual reports, excluding banks and other financial listed companies, in term of liabilities China National Petroleum Corporation (CNPC) led the other listed companies with a total debt of 988.148 billion yuan (US $158.1 billion), followed by another large oil enterprise China Petrochemical Corporation (Sinopec), of which the total liability amounted to 718.7 billion yuan (US $114.99 billion).