China announces discovery of massive coal deposit

[cir]

The discovery of a massive new coal reserve in Xinjiang Uygur is hoped will help meet China's coal requirements, which are set to grow to 1 gigaton during the 12th 5-year plan.

Author: Shivom Seth
Posted: Friday , 23 Dec 2011

MUMBAI - China has reportedly discovered an 89.2 billion tonne coal reserve at Sha'er Lake in northwest Xinjiang Uygur, in a find that is being termed the largest in Asia.

The new find is expected to be slightly bigger than Inner Mongolia, currently China's largest coal producing region - it surpassed that of the Shanxi province to become the largest coal producing region last year with an annual output of 782 million tonnes.

Coal output rose 26.6% year on year to 908 million tonnes in the first 11 months of the year.(this for an economy that is collapsing?. If yes, the end of the world is indeed well-nigh) The output in November alone has been pegged at 94.1 million tonnes, up 18.1% year on year from the Inner Mongolia region.

According to the provincial statistics bureau, Shanxi's coal output reached 790 million tonnes between January and November 2011, registering an annual increase of 18.6%. The November output rose 15.3% to hit a monthly record of 80.8 million tonnes.

With estimates that coal reserves in Xinjiang hovered over 2 trillion tonnes, which is 40% of China's total coal reserves, the new coal find is expected to help the country meet its energy consumption needs.

During the 12th Five Year Plan, China's energy consumption of standard coal is set to increase by 0.8 to 1 gigaton, with an average annual increase of 4.8% to 5.5%, according to a recent report of the China Energy Development 2011. The report noted that China's energy consumption increased 900 megatons, with an annual increase of 6.6%.

According to Chinese customs data, the country's imports of coking coal hit a 10 month high of 5.1 million tonnes in November, the highest since the 5.6 million tonnes in January this year. November imports were up 19% from imports of 4.3 million metric tonnes a year ago and were up 21% from 4.2 million tonnes in October, according to official data.

The country's net imports of the fuel in 2011 are expected to reach around 150 million tonnes. However, the National Development and Reform Commission, China's top economic planner, has also warned that coal shortages would occur in some regions.

Mineweb.com - The world's premier mining and mining investment website China announces discovery of massive coal deposit - ENERGY | Mineweb

 

[Ray]

Excellent.

But Coal adds to pollution.

I think there is some technology which cleans coal!

 

[hbogyt]

Clean Coal technology, if memory serves me right, injects carbon emissions underground.

 

[Bhadra]

In northwest Xinjiang Uygur !

Provided it remains cool.

 

[pmaitra]

PRC, congrats on finding plenty of coal. We too found something in large quantities: http://defenceforumindia.com/econom...ve-uranium-deposits-found-andhra-pradesh.html :taunt1:

 

[Bhadra]

PRC, congrats on finding plenty of coal. We too found something in large quantities: http://defenceforumindia.com/econom...ve-uranium-deposits-found-andhra-pradesh.html :taunt1:

Provided politics allows it to be exploited or only politicians exploit it !

 

[pmaitra]

Provided politics allows it to be exploited or only politicians exploit it !

That is true. I am also anticipating the likes of Arundhati Roy, Swami Agnivesh, Medha Patkar et al., will ratchet up the issue of radiation and cause havoc. Gotta keep an eye on them as well.

 

[asianobserve]

Bad news for our little islands... (rising tide from global warming)

 

[Ray]

Bad news for our little islands... (rising tide from global warming)

Dig and ye shall find!

 

[charlyondfi]

There do exist reason to congratulate on China's finding - especially a cheap energy source is critical to even only retaining the living standard just improved. Nevertheless, China leaders (CCP) is also aware of the pollution and global warming crisis, though I doubt they hold the knowledge -- or minimal crisis assessment, so to alert how much exactly this planet earth can sustain the carbon -- to contain that crisis.

Compared to that, India's uranium seems more valuable, from environmental consideration, not from welfare creation perspective. Yet, I believe there is still nuclear waste issue. Not a real expert to talk about that.

 

[Ray]

Provided politics allows it to be exploited or only politicians exploit it !

Let the Reddy brothers loose on the Reddys of AP and allzwell!

 

[amoy]

To address pollution and global warming many nuclear power plants are under construction. 2 in close proximity to me, coastal :shocked:

Which do u prefer? Fossil fuels or nuclear?

 

[Ray]

To address pollution and global warming many nuclear power plants are under construction. 2 in close proximity to me, coastal :shocked:

Which do u prefer? Fossil fuels or nuclear?

A very difficult choice.

I believe biodiesel etc can help

 

[cir]

Provided politics allows it to be exploited or only politicians exploit it !

You really have no knowledge of the ground reality in Xinjiang， which is a far safer place than some US streets and neighbourhoods except for a minor corner where people get attacked by terrorists once every few years。 The same can't be said about India where terrorist attacks or gorilla raids are daily occurances。

 

[Ray]

You really have no knowledge of the ground reality in Xinjiang， which is a far safer place than some US streets and neighbourhoods except for a minor corner where people get attacked by terrorists once every few years。 The same can't be said about India where terrorist attacks or gorilla raids are daily occurances。

Indeed none apart from the Chinese military know that it is the safest place on earth.

That is the Gospel truth!

It can't be compared to India since draconian laws are not in place in India!

Tibetans rioting, Uighur rioting, demography being changed, religion not allowed. Well, that is indeed a great way to go!

China scintillating!

 

[cir]

December 8, 2011 8:04 pm

Chinese power group eyes uranium companies

By William MacNamara in London

A Chinese state-owned power company has set its sights on two uranium companies, making a £632m offer for London-listed Kalahari Minerals that if completed would trigger an offer for Australia-listed Extract Resources.

China Guangdong Nuclear Power has bid 243.55p for Kalahari, an investor in a Namibian uranium project, representing a 16 per cent premium to the Aim-quoted group's share price over the past six months.

Kalahari's board recommended the latest offer from the Chinese group, which is trying to secure supplies of nuclear fuel as the country embarks on the world's biggest reactor-building programme.

Earlier this year, CGNPC tried to buy Kalahari but its 290p offer was disrupted by falling uranium markets after the nuclear disaster at Fukushima in Japan as well as an adverse ruling from the UK's takeover panel.

Kalahari is an investment company whose sole asset is a 43 per cent stake in Extract, which is developing the Husab uranium project in Namibia.

Australian securities laws require bidders to extend their offer to all shareholders if they buy a stake of 20 per cent or more in an Australian company.

If CGNPC receives shareholder acceptances from Kalahari of more than 50 per cent, it will complete the deal, which amounts to an acquisition of a 43 per cent stake in Extract.

CGNPC's offer document confirms it will make an offer for Extract within four weeks of passing the 50 per cent threshold.

Jonathan Leslie, Extract's chairman, said: "Since the initial announcement of talks between Kalahari and CGNPC, we have sought to ensure that Extract shareholders would be protected if an offer was to be made for Kalahari.

"Therefore, we are pleased that [the Australian Securities and Investments Commission] has now confirmed that all Extract shareholders will have an opportunity to consider a downstream offer on equivalent terms to shareholders in Kalahari."

Extract suspended trading in its shares on Thursday ahead of the announcement by CGNPC. On Wednesday its market value was A$2bn ($2bn).

Rio Tinto, the multinational mining company, is Extract's second-biggest shareholder with a 14 per cent stake. Rio owns Namibia's Rossing uranium mine, which is adjacent to the Husab project and part of the same ore body. Rio also owns 11 per cent of Kalahari.

The proximity of the assets has cast Rio as a natural buyer of Husab, opening the possibility of a Rio counterbid.

Rio, however, did not intrude on CGNPC's previous offer and last month it bought Hathor Exploration, a Canadian uranium developer, for C$654m ($639m).

Edward Sterck, mining analyst at BMO, said: "Rio is probably working on the assumption that they will be involved in the development of the project whether they buy Extract or not. CGNPC is a utility and mining is not their area of expertise.

"I think CGNPC would like to bring Rio in as operator."

 

[cir]

Indeed none apart from the Chinese military know that it is the safest place on earth.

That is the Gospel truth!

It can't be compared to India since draconian laws are not in place in India!

Tibetans rioting, Uighur rioting, demography being changed, religion not allowed. Well, that is indeed a great way to go!

China scintillating!

No matter how you paint it or spin it， China is a much safer country than India。 Period。

PS If India were such a free country， why is it that its citizens need special permits to enter into and travel in many parts of the country？

I am ready to provide you with a list of the places visiting which requires authorization。:thumb:

 

[Ray]

I would say Good show!

 

[Ray]

No matter how you paint it or spin it， China is a much safer country than India。 Period。

I don't disagree.

A totalitarian and a militarist state should be safer than any democracy.

Nothing new in that fact!

 

[cir]

I don't disagree.

A totalitarian and a militarist state should be safer than any democracy.

Nothing new in that fact!

If India were such a free country， why is it that its own citizens，let alone foreigners， need special permits to enter into and travel in many parts of the country？

I am ready to provide you with a list of those protected or restricted areas visiting which requires authorization。 :thumb: