Caixin
Jun 18, 2021 07:51 AM
ENERGY INSIDER

Energy Insider: China to Release Strategic Metal Reserves to Curb Commodity Prices; All Trapped Miners in Shanxi Found Dead

Newly formed copper cathode sheets
Newly formed copper cathode sheets

In today’s Caixin energy news wrap: Mining tragedy continues rattling China as all 13 miners trapped in a Shanxi mine were found dead; China’s environmental authority denies radiation leak at Taishan nuclear plant; and a massive hydropower project in the upper reaches of the Yangtze River starts full operation.

China to release strategic commodity reserves

China plans to release some industrial metals from its national reserves to curb commodity prices in the first such move in a decade. The National Food and Strategic Reserves Administration said Wednesday that it would release copper, aluminum and zinc in batches to nonferrous processing and manufacturing companies via public auction. China has stepped up its campaign to rein in commodity prices and reduce speculation to ease the threat to its pandemic rebound from soaring raw material costs.

Thirteen people detained in fatal mining disaster in Shanxi

Police detained 13 suspects as investigations into a deadly incident in an iron ore mine in Shanxi got underway. All 13 miners who were trapped underground by flooding in the mine in Daixian county were found dead as of Thursday following six days of rescue efforts, state broadcaster CCTV reported. As of Wednesday evening, 11 of the 13 victims were identified through DNA testing.

China says there’s no radiation leak at Taishan nuclear plant

China’s Ministry of Environment and Ecology denied media reports of a possible leak at a nuclear power plant in southern China’s Guangdong province, saying that nothing out of the ordinary has been detected. The ministry confirmed that radiation indicators in the vicinity of the Taishan nuclear plant remain at “background level” and that “no leak of any kind” has occurred, according to a statement issued Wednesday.

Giant Wudongde hydropower project in full operation

The last generating unit of the Wudongde hydropower station in Yunnan province was officially connected to the China Southern Power Grid Wednesday, marking full operation of the installation, China's fourth-largest and the world's seventh-largest hydropower project. Spanning the Jinsha River in the upper stretches of the Yangtze River, the project has a total installed capacity of 10.2 million kilowatts with 12 generating units.

Coal production rose 8.8% in first five months

China’s raw coal production rose 0.6% in May from a year ago to 330 million tons, reversing a 1.8% decline in April, according to the National Bureau of Statistics. From January to May, China produced 1.62 billion tons of raw coal, an increase of 8.8% from the same period a year ago. The country imported 111.17 million tons of coal, down 25.2%.

CECEP to invest $23 million in distributed wind power project

CECEP Wind-Power Corp. (601016.SH) said it will invest 149 million yuan ($23.3 million) in the construction of a 20 megawatt distributed wind power project in Shanxi province. The company will invest at least 29.71 million yuan from its funds while borrowing the remainder from financial institutions.

Zijin Mining to begin trial production at Serbia copper and gold mine

Zijin Mining Group Co. Ltd. (601899.SH) said its wholly owned subsidiary Zijin Mining Doo obtained a permit from the Serbian Ministry of Mining and Energy to begin trial production in the upper zone of the Serbian Čukaru Peki copper and gold mine. The mine will process 3.3 million tons of ore and produce 91,000 tons of copper and 2.5 tons of gold annually.

Great Wall Motor ties up with TotalEnergies in NEV technology

Great Wall Motors Co. Ltd. set up partnership with French energy giant TotalEnergies SE to jointly develop new-energy vehicle technologies and expand international businesses. The parties will establish a joint technology R&D laboratory for new-energy vehicle fluids. TotalEnergies will continue to invest in the joint laboratory at Great Wall Motor’s Haval Research and Development Center. Meanwhile, Great Wall Motor will continue to recommend TotalEnergies’ supporting oil to its overseas subsidiaries and authorized dealers.

State Grid completes construction of power project in Ivory Coast

Chinese utility giant State Grid said construction of the Zagné Substation in eastern Africa’s Ivory Coast was completed. The project, built by Chinese companies led by State Grid, has started power transmission.

Contact editors Han Wei (weihan@caixin.com) and Bob Simison (bobsimison@caixin.com)

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