Despite the fast development of mining machinery industry in China, the overall level of Chinese mining machinery industry is still behind foreign countries for more than 10 to 15 years.

Analysts predict a recovery in the price of iron ore this month following a dive in spot prices below key lower thresholds which has left the shares of major Australian miners languishing in the doldrums.

Kerr replaces Alan Rule, who recently defected to Paladin Energy.Former Deloitte partner Kathleen Bozanic will act in the CFO role until Kerr begins in September.

The Mine and Mineral Act (1995) - which greatly simplified licensing procedures, places minimum reasonable constraints on prospecting and mining activities, and creates a very favorable investment environment

Gold prices slid in Asian trading Wednesday amid profit-taking, reversing earlier gains stemming from talk that the Federal Reserve and other central banks stand poised to stimulate the economy via monetary easing measures.