The Asia Miner

OCT-DEC 2015

The ASIA Miner - Reporting Important Issues to Mining Companies in the Asia Pacific Region

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2 | ASIA Miner | October-December 2015 From The Editor ECONOMIC instability and uncertainty which have character- ized the global economy since the fnancial crisis continue to cast a shadow worldwide, particularly in the mining space. While the US has recovered somewhat, the Eurozone con- tinues to be curtailed by uncertainty and Australia has been hit hard by depressed resources prices, high cost of doing business, over-reliance on mining and lack of capital for ex- ploration, mine development or expansion. Despite the doom and gloom, the global outlook is becoming more optimistic and there are signs that the mining industry may have hit rock bottom. All eyes are still on China as its global infuence is still very strong. Although growth has moderated, the long-term fundamentals driving China's economy remain intact. Growth has settled at a new normal of 6-7% after years of double digit growth, which was un- derstandably unsustainable. While the slowdown has resulted in a shock to global commodity prices and many related industries, China is still growing at a faster rate than the world's other major eco- nomic powers and the government is determined to continue its policy of bringing the entire country into the modern era. This has largely occurred in most of the country's east but still there are around 500 million people in central and western regions yet to be industrialized, urbanized and brought out of rural poverty. The transformation process has different stages and means many changes for the Chinese people. For the majority it means a new era of consumerism and increasing wealth, which means changing demands for minerals and other resources. The pro- cess means different industry sectors will be the prime movers while new sectors and regions will do well. China clearly recognizes the risks and evolving nature of the country's economic, so- cial and fnancial terrain, and is dealing with the slowdown via a series of accommodat- ing policy measures and reforms. The government has suffcient policy leeway to offer critical support and to off-set downward pressure on the economy. Deep-rooted and often painful reforms must continue in order to safeguard not just the current cycle, but also the structural integrity of China's economy and its ability to deliver on long-term development goals. Recent challenges such as the stock market gyrations and the RMB devaluation have knocked confdence and caused reverberations around the world but this environment has also increased the process of reform. As China tran- sitions to a consumer-driven, service-oriented and higher-value-add economy, it has to grapple with mounting challenges, both old and new. The western world, including Australia, must understand the process of change that is occurring and must change in order to meet the new demands. Mining still has a big role to play in supporting the transformation but with increased emphasis on resources other than iron ore and coal. As China becomes more aware of the need for sustainable development there is also an increased need for improved safety and environmental measures, and the rest of the world, particularly well developed resource-rich nations like Australia and Canada, has a role to play in helping it reach the standards commonplace in the west. China's changes are not to be feared but rather present new opportunities and signing off of the China Australia Free Trade Agreement (ChAFTA) is a must, particularly if Aus- tralia is to continue to beneft from China's growth. This issue examines changes taking place in China, the impact these have on glob- al mining and the infuence China has on mining. Specifcally, we take a look at the ChAFTA and its benefts, the implications of new environmental measures, existing min- ing projects in China and ongoing investment by China in overseas mining projects. WWW.ASIAMINER.COM The ASIA Miner® Suite 9, 880 Canterbury Road, Box Hill, Melbourne,Victoria, 3128 Australia Phone: + 61 3 9899 2981 Mobile: + 61 417 517 863 Editor—John Miller, jmiller@mining-media.com G —Michael Florman mforman@mining-media.com Editorial Director—Steve Fiscor, sfscor@mining-media.com Production —Dan Fitts, dfitts@mining-media.com Europe—Simon Walker, simon.iets@btinternet.com North America—Russ Carter, russ.carter.emj@gmail.com Latin America—Oscar Martinez, omartinez@mining-media.com South Africa—Antonio Ruffni,antonior@webafrica.org.za SALES Publisher—Lanita Idrus, Lidrus@mining-media.com North America—Victor Matteucci, vmatteucci@mining-media.com Midwest/Eastern U.S. & Canada Sales —Mary Lu Buse, mlbuse@mining-media.com Germany, Austria, Switzerland— Gerd Strasmann strasmannmedia@t-online.de Rest of Europe—Colm Barry, colm.barry@telia.com —Jeff Draycott, jeff.draycott@WOMPint.com Japan—Masao Ishiguro, Ishiguro@irm.jp Indonesia—Dimas Abdillah, dabdillah@mining-media.com Latin America—Paulina Downey, paulina@downeyassociates.cl —Sylvia Palma, sylvia@downeyassociates.cl 8751 East Hampden Ave, Suite B-1 Denver, Colorado 80231, U.S.A. Phone: +1 303-283-0640 Fax: +1 303-283-0641 President—Peter Johnson, pjohnson@mining-media.com Subscriptions: $120/year—Tanna Holzer, tholzer@mining-media.com —Lorraine Mestas, Lmestas@mining-media.com The ASIA Miner® is published by Mining Media International. Ev- ery endeavour is made to ensure that the contents are correct at time of publication. The Publisher and Editors do not endorse the opinions expressed in the magazine. Editorial advice is non-spe- cifc and readers are advised to seek professional advice for spe- cifc issues. Images and written material submitted for publication are sent at the owners risk and while every care is taken, The ASIA Miner® does not accept liability for loss or damage. The ASIA Miner® reserves the right to modify editorial and advertise- ment content. The contents may not be reproduced in whole or in part without the written permission of the publisher. Copyright 2015 Mining Media International Pty Ltd ISSN: 1832-7966 PHOTOCOPIES: Authorization to photocopy articles for internal corporate, personal, or instructional use may be obtained from the Copyright Clearance Center (CCC) at +1.978.750.8400. To obtain further information, visit www.copyright.com By John Miller /Editor China's infuence is still strong

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