2013-09-01 09:07:53 - New Materials research report from Business Monitor International is now available from Fast Market Research
The changes and reforms enacted in 2012 will continue over the course of 2013 with smaller and less efficient mines being closed, while mid-sized miners will be merged and production consolidated into giant vertically integrated state-owned outfits. Overall, we forecast China's mining industry value to increase from approximately US$340bn in 2012 to US$432bn by 2017, marking a healthy growth rate of 4.9% per annum.
As 2013 ushers in the third year of China's 12th Five-Year Plan (2011-2015), we expect the changes and reforms enacted in 2012 to continue. In a bid to curb overcapacity and reduce environmental pollution, the government plans to close smaller and less efficient mines, while mid-sized miners will be merged and production consolidated into giant vertically integrated
state-owned outfits. Overall, we forecast China's mining industry value to increase from approximately US$340bn in 2012 to US$432bn by 2017, marking a healthy growth rate of 4.9% per annum.
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The small production losses that will inevitably occur with the closure of smaller mines will give way to production gains down the road due to the efficiency gains of bigger, more integrated mining companies.
This comes as industry-wide energy efficiency and consolidation measures continue in 2013 as part of China's Five-Year Plan, improving efficiency and boosting productivity across the industry.
We expect increasing tax burdens on the Chinese mining industry as part of the plan. China's twice-delayed resource tax was implemented nationwide on November 1 2011. In February 2012, additional taxes were imposed on the mining of tin, iron ore and other minor metals. Significant progress has been made in the crackdown on illegal mining, with the government pledging to do more to improve safety. There is an increasing emphasis on the negative environmental impact of mining activities, with the imposition of an environmental tax on certain industries and the introduction of a 'green standard' for the rare earths sector to curb emissions. Cases of smelters, lead plants, or mines that are not up to environmental standards being closed are commonplace.
The government suspended new prospecting and mining licences for the coking coal and rare earths sectors in a bid to prevent over-exploitation. Additionally, the Institute of Geological Environmental Monitoring plans to build 10 state-level geological environment monitoring demonstration zones in the north-east, north-west, north and Yangtze River regions by the end of the 12th Five-Year Plan.
Key domestic players include Zijin Mining, Shandong Gold, Jiangxi Copper, Datong Coal and Jinchuan Nonferrous Metals, as well as the state-owned entities Aluminium Corporation of China (Chinalco) and China Shenhua Energy. Foreign companies with operations in China include Canadian junior gold explorers Eldorado Gold and Continental Minerals; Australian mining giants Rio Tinto and BHP Billiton and Brazilian diversified miner Vale.
Partial Table of Contents:
BMI Industry View
- BMI Industry View
- SWOT - Q4 2013
- Bauxite: Supply Security To Spur Growth
- Table: China - Largest Bauxite Projects
- Table: China - Bauxite Production Forecast
- Coal: Production Undeterred By Green Initiatives
- Table: China - Coal Projects
- Table: China - Coal Production Forecast
- Copper: Large Projects In The Pipeline
- Table: China - Largest Copper Projects
- Table: China - Copper Production Forecast
- Gold: Slowdown In Place
- Table: China - Largest Gold Projects
- Table: China - Gold Production Forecast
- Iron Ore: Growth To Lose Momentum
- Table: China - Largest Iron Ore Projects
- Table: China - Iron Ore Production Forecast
- Lead: Autos Sector Lend Support
- Table: China - Select Lead Projects
- Table: China - Lead Production Forecast
- Nickel: Indonesia Export Ban A Potential Upside
- Table: China - Largest Nickel Projects
- Table: China - Nickel Production Forecast
- Tin: Modest Growth On Environmental Concerns
- Table: China - Largest Tin Mining Projects
- Table: China - Tin Production Forecast
- Zinc: Little Impetus For Expansion
- Table: China - Zinc Production Forecast
Industry Risk Reward Ratings
- Table: Asia Mining Risk/Reward Ratings
- Table: China - Mining Industry Value & Production Forecasts
- Commodities Forecast
- Monthly Metals Update
- Ferrous Metals
- Base Metals
- Aluminium: Still Further Declines
- Copper: Continued Weakness
- Nickel: Persisting Fall
- Zinc: Holding Steady, For Now
- Table: Select Commodities - Performance & BMI Forecasts
- Table: Global Commodities Strategy
- Table: China - Select Listed Mining Companies
- Shandong Gold - Q4 2013
- Table: Shandong Gold - Key Financial Data
- Jiangxi Copper - Q4 2013
- Table: Jiangxi Copper - Key Financial Data
- China Shenhua Energy - Q4 2013
- Table: Shenhua Energy - Key Financial Data
- Aluminum Corporation of China (Chalco) - Q4 2013
- Table: Chalco - Key Financial Data
- Table: South East Asia - Select Mining Projects
Global Industry Overview
Full Table of Contents is available at:
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