World model of mining industry transformation and upgrading and China's experience
Sep 28, 2017

World model of mining industry transformation and upgrading and China's experience

Since the end of 2016, the price of all international mineral products rebound; the first half of 2017, the mineral products market continues to rebound, copper, aluminum, lead, zinc and other non-ferrous metals rose by more than 20% years, non-ferrous metals or nickel, gold, magnesium, molybdenum and other more than 10%.

According to the objective factors of the market, deputy chief engineer, researcher at the research center of China Geological Survey to the development of transport China Sichuan analysis said that the global mining market recovery. Mineral company financing environment improved, performance continued to improve. The first quarter of 2017, the global mining financing amounted to nearly doubled over the same period last year, mining financing activities significantly improved the confidence of social capital on the development prospects of the mining industry is the restoration of the mining industry; foreign investment bottomed pick up, the first half of this year, China companies have announced more than $10 million of the gold mining industry in overseas mergers and acquisitions of 17 pens, involving an amount of $8 billion 630 million, of which $3 billion 800 million has completed the transaction.

And copper, gold and other minerals are the main objectives of investment. Overseas mines involve 27 kinds of minerals, such as iron, chromium, copper, gold, silver, aluminium, molybdenum, lead, zinc, nickel, cobalt, tin, tungsten, titanium, niobium, rare earth and lithium. 49 copper mines, 17 gold mines, 15 lead-zinc mines.

To Chuan Chuan pointed out that overseas mines to obtain a considerable amount of resources. The number of mines is small, but the size of the mineral resources is considerable. Among them, copper, cobalt, chromium and platinum metals and other minerals abroad identified reserves, respectively, 1.1 times, 2.7 times, 1.6 times and 7.4 times; nickel, tin and other minerals outside the identification of reserves of more than half of the country.

Emphasize to the transport of Sichuan, Chinese mining enterprises to "go out" to participate in the investment and integration along the energy resources industry The Belt and Road ", we must give full play to the role of the platform for international cooperation in the field of energy resources in the country, to promote bilateral and multilateral cooperation mechanism. Handle the relationship between "The Belt and Road along the country's development and win-win cooperation, to build a community of interests, from the national level to develop" The Belt and Road "cooperation in energy resources planning, build a financial investment cooperation platform internationalization; make full use of the national" The Belt and Road "initiative implementation opportunities, sharing platform construction way through mechanism innovation financial innovation, innovation in electronic commerce, information, construction of" The Belt and Road mining market and mineral products market intelligence and network trading platform, sharing of global resources optimal allocation results, enhance the voice and influence in the global energy and mineral products pricing, trade, logistics and other aspects of our country. With the implementation and deepening of The Belt and Road "initiative, will effectively promote the support of global mining, mining industry usher in warmer spring.

Finally, to Chuan Chuan said that the mining sector, after 9 years of down cycle, we expect the global mining industry, especially China's mining industry fully warmer. At the same time, in order to build a global mining destiny community and work hand in hand to promote the mining industry's prosperity and development, we must strengthen cooperation and win-win situation in global mining industry.

"Going out", we need to do a lot of homework

Li Yuwei, a researcher at the Advisory Research Center of the Ministry of land and resources, and Zhang Zhongxiang, Dean of the Ma Yinchu School of economics at the Tianjin University, also clarified his point of view. Li Yuwei pointed out that at present, China's mineral exploration from the planned economy to the market economy transformation is not yet in place. The reason is that the exploration of the capital market is only the mining market, there is no mineral exploration in the risk sector, only the results of scientific research, that is, there is no capital mineral exploration market, the source of capital is unstable. This is the place where we want to make up missed lessons. Two, the geological prospecting units will be transformed into market exploration entities or in Junior Mining Companies, thus the competition ability and development direction will be confronted with problems. Three mineral exploration in the field of resource allocation, the role did not fall. He explained that the exploration and mining rights is a kind of resource, and the exploration of technology, labor and capital are prospecting exploration exploration resources, these resources in the market will not play the role of configuration, but the government plays a major role in allocation, thereby limiting the market active exploration. Four, we should improve the international competitiveness of the mineral exploration industry, and work hard to explore talents, capital and accumulate field exploration experience.

Zhang Zhongxiang pointed out that Chinese enterprises should fully understand the strategic risks of overseas M & A and investment in the process of "going out". For a long time, China enterprises often think that the host government will fix solves all the problems in foreign investment process, China enterprises only pay attention to "government", rather than "folk social license", the process of enterprises in overseas investment, because there is no deal with the local residents, resulting in investment project ran aground. If you can't deal with properly, these will be to participate in the implementation of the "The Belt and Road project brought difficulties and risks.

China enterprises should also change the past, do not pay attention to labor laws and environmental regulations, over reliance on government officials "top line", to vigorously strengthen the exploration of the lower line "and cultivating learning foreign culture and market experience, hiring local talent, realize the integration of the culture, to adapt to the international rules from concept to the way. He said that in today's world, 70% of enterprises after mergers and acquisitions did not achieve the desired business value, and 70% of mergers and acquisitions failed directly or indirectly due to the integration process after mergers and acquisitions.

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