https://www.scmp.com/rss/281737/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Every Tuesday and Thursday, Inkstone Index features one important number about China to give you insight into the rising power. 7%: The increase in Chinese imports from Australia in June.  China is importing more goods from Australia despite rising diplomatic tensions between the countries. The rise in Chinese import of Australian materials crucial for China’s infrastructure projects made up for drops in other products Australia exports to China. In May, Beijing slapped tariffs on Australian... https://www.scmp.com/business/inkstone-index-china-buys-more-australia-despite-rising-tension/article/3096125?utm_source=rss_feed https://www.scmp.com/business/inkstone-index-china-buys-more-australia-despite-rising-tension/article/3096125?utm_source=rss_feed Thu, 06 Aug 2020 03:46:00 +0000 Fresh studies predicting adverse economic impacts of a proposed Australian coal mine have strengthened opposition to the A$21.7 billion (HK$126 billion) project by an Indian conglomerate that has become a political hot potato for the Malcolm Turnbull government. Westpac, the country’s second-largest bank, queered the pitch further when on Friday it announced it would not fund new coal mining regions. With that, Westpac joins three other main banks – ANZ, Commonwealth Bank and National Australia... https://www.scmp.com/week-asia/business/article/2091240/report-digs-deeper-hole-australias-indian-coal-mine-plan?utm_source=rss_feed https://www.scmp.com/week-asia/business/article/2091240/report-digs-deeper-hole-australias-indian-coal-mine-plan?utm_source=rss_feed Fri, 28 Apr 2017 04:30:15 +0000 MMG, Asia’s largest listed copper miner by output, was under pressure in Hong Kong trading on Thursday, after the company reported a larger than expected net loss for 2016 and unveiled plans to raise copper output by up to 22 per cent this year. The overseas mining unit of state-backed metals trading giant China Minmetals posted a net loss of US$98.7 million for 2016, including a one-off tax-related accounting write-down of US$63 million and US$52 million of low-grade ore inventory... https://www.scmp.com/business/companies/article/2077388/chinese-copper-miner-mmg-unveils-wider-expected-loss-shares?utm_source=rss_feed https://www.scmp.com/business/companies/article/2077388/chinese-copper-miner-mmg-unveils-wider-expected-loss-shares?utm_source=rss_feed Thu, 09 Mar 2017 04:33:16 +0000 Rio Tinto gave the go-ahead on Friday to expand its bauxite output in northern Australia with a US$1.9 billion project, approving a major mine at a time when most rivals worldwide are slashing spending. The Amrun project in Queensland state will initially produce 22.8 million tonnes of bauxite a year, replacing output from Rio's East Weipa mine and boosting its Cape York exports by 50 per cent, as the company aims to meet soaring demand from Chinese aluminium makers. READ MORE: Rio Tinto’s giant... https://www.scmp.com/business/companies/article/1884187/rio-tinto-go-ahead-us19b-bauxite-expansion-australia?utm_source=rss_feed https://www.scmp.com/business/companies/article/1884187/rio-tinto-go-ahead-us19b-bauxite-expansion-australia?utm_source=rss_feed Fri, 27 Nov 2015 09:34:55 +0000 Beijing’s removal of the ban on Brazilian miner Vale’s giant iron ore carriers is a sign of mainland China’s strong hand in the global iron ore market as major producers Brazil and Australia scramble to preserve market shares in supplying the commodity to the world’s second-largest economy. A circular by China’s Ministry of Transport published on late Monday amended the regulation for mainland ports to handle mega dry cargo ships, legitimising the docking of vessels with a 400,000 deadweight ton... https://www.scmp.com/business/commodities/article/1709441/china-seizes-upper-hand-iron-ore-market-after-deal-vale?utm_source=rss_feed https://www.scmp.com/business/commodities/article/1709441/china-seizes-upper-hand-iron-ore-market-after-deal-vale?utm_source=rss_feed Tue, 10 Feb 2015 11:25:44 +0000 Australia's abundant mineral resources, sophisticated mining equipment, technology and services industry, and proximity to rapidly-growing Asian markets have made it a world-leading mining nation with an investment pipeline of A$430 billion. Record growth In 2011, Australia's energy and mineral commodity exports rose to a record A$190 billion, a 15 per cent increase on the previous year, signifying continued strong demand for minerals and commodities and confidence Australia's mining sector can... https://www.scmp.com/article/1076058/australia-welcomes-foreign-investment?utm_source=rss_feed https://www.scmp.com/article/1076058/australia-welcomes-foreign-investment?utm_source=rss_feed Tue, 06 Nov 2012 03:01:48 +0000 Investments in Australia's resource sector have enabled the country to develop a world-class mining industry and become a key partner for China. As the countries celebrate 40 years of diplomatic relations, Australia and China are focusing on opportunities in the mining industry. "The first recorded European discovery of coal was at Newcastle by convicts on the run from Port Jackson", says Stephen Galiliee, CEO of New South Wales Minerals Council. "In 1798, the first shipment of coal was exported... https://www.scmp.com/article/1076053/industry-depends-foreign-investment?utm_source=rss_feed https://www.scmp.com/article/1076053/industry-depends-foreign-investment?utm_source=rss_feed Tue, 06 Nov 2012 02:48:10 +0000 Australian-based mining companies are continuing to benefit from global market demands. Through its continuing efforts, Vector Resources is continuing to discover high-grade gold assets at its various projects. Today, the company is in a strong position to attract significant foreign investment and create a company dedicated to delivering shareholder value. In recent years, the Perth-based gold and iron ore developer has focused on increasing its suite of quality projects in some of the most... https://www.scmp.com/article/1076046/vector-resources-builds-closer-business-ties?utm_source=rss_feed https://www.scmp.com/article/1076046/vector-resources-builds-closer-business-ties?utm_source=rss_feed Tue, 06 Nov 2012 02:39:09 +0000 Rare earth elements are critical in the production of components used in industries such as clean technology, advanced electronics, electric cars, wind turbines, glass and ceramics, chemical and consumer products. While China has 50 per cent of the world's reserves and has produced more than 95 per cent of the world's rare earth supply, a decrease in production and export has caused prices to rise and alternative suppliers are looking to meet global demand. With a potentially low-cost, long-term... https://www.scmp.com/article/1076042/peak-pursues-aggressive-exploration-development-and-mining-growth-strategy-credit?utm_source=rss_feed https://www.scmp.com/article/1076042/peak-pursues-aggressive-exploration-development-and-mining-growth-strategy-credit?utm_source=rss_feed Tue, 06 Nov 2012 02:25:39 +0000