China’s Minmetals Resources (MMR) has succeeded in its CAD1.3 billion bid for Africa-focused copper miner Anvil. Minmetals, a unit of China’s biggest metals trader, wanted Anvil for its Kinsevere project in the Democratic Republic of Congo, which is expected to produce 60,000 tons of copper cathode a year. “Anvil is the first step in the expansion of MMR’s global footprint,” Andrew Michelmore, Minmetals’ Melbourne-based Chief Executive, said. Minmetals has been looking to expand beyond its holdings in Australia and Laos, and last year missed out on a USD6.6 billion bid for Canadian miner Equinox Minerals when it was trumped by Barrick Gold. Both Equinox and Anvil have mines in central Africa’s rich copper belt, where several other mines are being developed by firms like China’s Jinchuan Group, which recently took over South Africa’s Metorex. Michelmore said Minmetals would be interested in other assets in the African copper belt. “We bid for Equinox, now we’ve got Anvil, so we’re interested in that part of the world,” he said. The firm would continue looking for copper, zinc and nickel sulphide assets in Africa, North and South America, parts of Asia and Australia, he said. He added the company would target assets in varying stages from exploration projects to mines near completion. The biggest hurdle to the Anvil takeover was cleared when Minmetals secured an agreement with Congo’s state-owned mining body Gecamines confirming that Anvil’s title to the Kinsevere and Mutoshi copper and cobalt projects were valid and in good standing. Gecamines had almost scuppered the deal when it said the takeover would trigger a review of the projects’ leases. Minmetals acquired 90% of Anvil’s shares and would move to take over the remaining shares as allowed under Canadian and Australian rules. Anvil had been up for sale since last August, when its biggest shareholder, commodities trader Trafigura, said it wanted to sell its 39% stake. China accounts for nearly 40% of global copper consumption and demand is expected to rise 6% to 7% this year, the South China Morning Post reports.

Australia’s Fortescue Metals has shrugged off worries about a slowdown in Chinese demand for iron ore, vowing to stick with a USD8.4 billion mine expansion plan and forecasting steady prices for the material. Fortescue, which has only been producing ore since 2008, sells 95% of its output to Chinese steel mills, the world’s biggest buyers of iron ore, and plans to nearly treble production by mid-2013. BHP Billiton and Rio Tinto are also boosting production, leading analysts to forecast a medium-term glut of iron ore amid signs that China’s demand growth for the metal is easing. Spot iron ore prices fell 19% in 2011 as China clamped down on liquidity, denting steel demand for construction, and have been fairly steady this year at about USD140 a ton. Fortescue Chief Executive Nev Power said the firm was counting on China to remain a big buyer in coming years. “Long term, China’s growth is forecast to be stable around the 9% mark and we don’t see significant new supply to come into the market in the short term, and, therefore, expect the price to remain in that range,” he said. Indian iron ore exports to China were dropping off due to tariffs and growing demand at home, while domestic Chinese iron ore output was expected to fall in favor of higher iron-content imported ores, he said. Fortescue, Australia’s third-largest iron ore miner, reported a half-year net profit of USD801 million, more than double a year ago but below analysts’ expectations of about USD840 million. Power declined to comment on speculation that a potential predator may be building up a stake in the company after a mystery buyer snapped up at least 2.9% of Fortescue’s stock. Andrew Forrest, who founded Fortescue in 2003, is the largest shareholder, with nearly 32% of the firm. Hunan Valin, a Chinese state-owned steelmaker, is second-ranked, with 14.7%, the South China Morning Post reports.

• Guangxi surpassed neighboring Guangdong to be the country’s largest importer of coal in 2011. Local customs said ports in Guangxi recorded throughput of over 27 million tons in 2011, up 61.3% over the previous year and accounting for 15% of the total. Guangxi’s coal was mainly imported from Vietnam, Indonesia and Australia last year. The province’s imports from Vietnam jumped by 42.8% to 11.7 million tons, which customs officials attributed to the price advantage of Vietnam’s coal.
• Angola’s government hopes to expand its nearly USD1 billion a year diamond business in partnership with Chinese firms through Angola Diamond Trading (Sodiam), which is 99% owned by Endiama, a state-owned diamond miner. Angola is expected to produce 8.5 million carats worth USD1.15 billion this year. In 2010, Dubai accounted for the largest share of Angolan rough diamond exports by value at 40%, followed by Israel at 34%, and China at 11%.
• China has raised the resource tax on six minerals, including iron and tin ores, in a bid to conserve reserves, but analysts said the hikes won’t have a big or long-lasting impact on costs given already high mineral prices. The benchmark tax ranges from CNY2 to CNY30 per ton depending on ore grade. New rates became effective on February 1. The resource tax on top-grade tin ore was lifted to CNY20 per ton, a 20-fold jump and the biggest increase among the six minerals affected. China also raised the tax on molybdenum, magnesium, talc and borax ores.

The Flanders-China Chamber of Commerce and the Flanders Cleantech Association organized a meeting with a delegation led by a group of Chinese mayors of second and third-tier cities in China. The Chinese mayors were from the following cities: Lanzhou (Gansu province), Guiyang (Guizhou province), Zhuhai (Guangdong province), Inner Mongolia Autonomous Region.

The visit was organized in the framework of an exchange programme of The Climate Group, which is an organization based in the UK with offices worldwide, including Beijing and focusing on climate change and low carbon area. The aim of their visit was to facilitate the dialogue, trade and investment between Chinese cities and Europe on cleantech and environmental technologies.

The participants were welcomed Mrs Gwenn Sonck, Executive Director of the Flanders-China Chamber of Commerce. This welcome was followed by an introduction by Mr Dirk Fransaer, Managing Director of VITO. Mrs An Vandeputte, Project Manager of OVAM/Public Waste Agency of Flanders gave an interesting presentation on the policy instruments and results in waste management in Flanders. Mr Daniel Dirickx, Director of the Hooge Maey explained the meaning of sustainable landfilling. Mr Bert Lemmens, Project Manager Renewable Chemicals of VITO showed how to obtain renewable chemicals from algae. To end the presentations, Mr Karl Vrancken, Research Coordinator of VITO gave his view on Enhanced Landfill Mining as a new concept for sustainable materials management.

After the presentations the delegation visited the site of the Hooge Maey. After the site visit the delegation and the Belgian companies had a lunch with a presentation by Mr Luc Bas, European Programme Director of The Climate Group. During the lunch, the Belgian companies were able to present themselves and their activities to the delegation.

This meeting was organized with the support of Flanders Investment & Trade. Pictures of this meeting will be online soon.

The Flanders-China Chamber of Commerce organized a successful New Year’s reception on 16 February 2012 at KBC Bank in Brussels, attended by 300 participants.

Speeches were made by:

Mr Bert de Graeve, Chairman of the Flanders-China Chamber of Commerce (FCCC)

His Excellency Mr Liao Liqiang, Ambassador of the People’s Republic of China in Belgium

Mr Didier Reynders, Vice Prime Minister and Minister of Foreign Affairs, Foreign Trade and European Affairs

Pictures of the reception will be online soon.