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The market position of mining industry is hoisting

10 July, 2013 at 5:21 am in Buy & Sell

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A recent mining industry conference held in the northern Chinese coastal city of Tianjin has highlighted the concerted effort amongst the country's miners to snap up gold mines abroad.

The industry’s future lies not in Europe, nor the US, nor Australia for that matter. Rather, mining looks to where its customers reside - the developing world. Over the past 20 years growth in places as diverse as China, India, South East Asia, Africa and Latin America has far outpaced growth in the west. Even with some slowdown expected in China – from double to still sturdy single-digit growth – the International Monetary Fund forecasts the emerging world will average about 6 per cent growth or more through to 2016.

The short reason for this is that these economies are growing. They need cities and infra-structure to be built to cater for their growing populations. Resources are the means to this end.

Caixin reports that conversations amongst gold mining executives at the recent China Mining Conference were abuzz with the topic of foreign acquisitions, with industry insiders anticipating a sustained rise in bullion prices.

Spearheading the overseas acquisitions drive is Fujian-based gold mining giant Zijin, which made its initial foray abroad eight years ago. According to Zijin's president for international affairs, Li Zhilin, the company currently controls six mines in Russia, Mongolia, Tajikistan and Australia.

Zijin obtained regulatory approval for its takeover of Norton Gold Fields, one of Australia's biggest gold miners, in July, while vice chairman Qiu Xiaohua sees the company investing USD$5 billion in overseas acquisitions during the next several years.Sand making equipments mainly include impact crushre, jaw crusher, hammer crusher, cone crusher,roll crusher and vibrating feeder,etc.

According to Li gold miners consider overseas acquisitions to be the 'main path for increasing resource reserves', as they enable companies to 'reach the status of international mining firm.'

China is host to less than 5% of the world's known gold reserves according to data from the World Gold Council, while domestic mines are often readily exhausted.

China is developing more and more fast, its mine industry occupy an important position in the world, the corresponding mining machinery industry is also becoming increasingly powerful. Henan Hongxing Mining Machinery Co.,Ltd is one of the best mining equipment manufacturer, its main products are: crushing series, industrial grinding series, ore dressing equipment and cement equipment.

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