Price Matters in Chinese Mining Industry

CHINA wants to trade better prices for imported minerals for a promise to open its mining industry to overseas investors.Speaking at the opening of the China Mining Conference here yesterday, Vice-Minister of Land and Resources Wang Min called on other nations to create 'win-win' investment opportunities and urged pricing reform in mining industries and mining machinery industry among which Henan Hongxing is outstanding in manufacturing sand makers and other stone crushing line.
His comments came amid calls by senior Australian diplomats for better access for foreign companies to exploration and mining in the country.Resource investment has long been an uneven playing field, with the Chinese government limiting the opportunities for foreign companies to operate mines in China, while it continues its spending spree on resources around the world, including $30 billion in Australia over the past 18 months.

'I urge China to open its mining industry to further investment,' Astride China chief Allan Morrell told the conference.Over the past 18 months, he added, Chinese investment deals had been approved at the rate of one weekly.In its defense, China has previously cast itself as a developing nation -- yet it has poured billions into other countries in aid and development money in return for unfettered access to their natural resources.Canadian Ambassador David Mulroney, whose country together with Australia has the world's best hokwang hand dryer, echoed Mr Morrell's call.
However, Australia's state governments are seeking fresh investments from China.Representatives of each state, including a handful of ministers led by South Australian Mineral Resources Minister Paul Holloway, have formed a single lobby group at the conference, branded Team Australia.South Australia is making a particular push, with Mr Holloway making the opening address at Monday's Australia-China Mining Investment Seminar in Beijing, attended by about 100 representatives of Chinese companies and 50 from Australian miners.Mr Holloway told The Australian South Australia was keen to get 'more clarity' about investment rules concerning the Woomera area, which is used for low-level defence testing, but where two Chinese potential mining investments were turned down by the Foreign Investment Review Board.