China began mining rare earth minerals in the 1980s, and by the mid-90s was well surpassing the U.S. in production.
He is the face in China of mining giant RAG and heating systems firm Viessman, appearing on billboards and print ads.
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Disappointing economic news from China weighed on mining firms.
Luo Bingsheng, the deputy secretary of the steel association, said China has overseas mining rights capable of producing 150 million tons of iron ore each year, but most of them have not yet started producing.
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Hong Kong-listed Zijin Mining Group, China's biggest gold miner, fell 3 percent.
The companies will look to leverage their strengths by giving Chinalco global exposure in order to market their products better and Rio Tinto an opportunity to explore selected potential mining areas in China.
Introduced to tackle machine theft, it has helped turn Komatsu into the biggest foreign supplier of excavators and dump trucks to China's booming construction and mining companies.
Mr Albanese was not the only boss of a big mining firm to misread the robustness of China's rampant growth, which had driven a six-year boom in commodity prices and made mining unimaginably profitable.
In Latin America, mining industry contracts were awarded to China to help exploit valuable subsoil resources.
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Australia, thanks largely to the economic rise of China, has been in the throes of a mining boom.
China also is home to a booming gold-mining industry that keeps it as the world's largest gold producer.
In Latin America, China is the third largest foreign investor, mostly in the mining and hydrocarbon industry.
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Mining firms such as Rio Tinto have benefited from China's rapid expansion over the past few years, which have seen the country grow into one of the world's largest commodities markets.
China is one of the largest markets for large machinery and mining equipment, and we believe that this expansion will help Caterpillar expand its footprint and gain market share in not only China but also other emerging markets in Asia.
BHP, Rio Tinto and Brazilian mining company Vale are the top three suppliers of iron ore to China.
Copper and oil prices were lower and mining stocks slumped, with the decline reinforced by disappointing manufacturing data from China.
The Australian economy is heavily dependent upon mining: this in turn means upon the rate of economic growth in China.
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While the number of migrant workers in China rose 3.9% last year, manufacturers face stiff competition from construction, mining and other industries for staff.
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"When mining crowds everything out and the economy makes room for that, to service China, knowing that it's a highly volatile global cycle, it becomes a question of what Australia does with the spoils, " he told CNN.
It's mining company, Vale, is the world's largest iron ore exporter and China is its biggest buyer.
Not only does China have the blessing of favorable geology (ample resources), but the country actively supported its rare earth mining operations at a time when Western miners were closing up shop.
However, South African Trade and Industry Minister Rob Davies believes that although China may be shrinking the local clothing sector, South Africa and the continent at large benefit from its huge mining investments.
The Chilean Mining Ministry has set up a website to collect greetings, and already there are many from Italy, China, the United States and a dozen other nations.
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