UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

|X|   Quarterly  Report  pursuant  to  Section  13 or  15(d)  of the  Securities
      Exchange Act of 1934 For the quarterly period ended June 30, 2005

|_|   Transition  Report pursuant to 13 or 15(d) of the Securities  Exchange Act
      of 1934 For the transition period to

                        Commission File Number 000-50833

                             ----------------------

                      CHINA MINERAL ACQUISITION CORPORATION
        (Exact Name of Small Business Issuer as Specified in Its Charter)

           Delaware                                    20-0938259
(State or Other Jurisdiction of         (I.R.S. Employer Identification Number)
Incorporation or Organization)

            210 East 85th Street, Suite 16, New York, New York 10028
                    (Address of Principal Executive Offices)

                                 (212) 672-1909
                (Issuer's Telephone Number, Including Area Code)

      Check  whether  the issuer (1) filed all  reports  required to be filed by
Section 13 or 15(d) of the  Securities  Exchange  Act of 1934 during the past 12
months (or for such shorter period that the registrant was required to file such
reports),  and (2) has been subject to such filing  requirements for the past 90
days.
                                                                  Yes |X| No |_|

      There were  5,000,000  shares of the  Company's  common  stock,  par value
$0.001 per share, outstanding as of August 1, 2005.

      Transitional Small Business Disclosure Format (Check one): Yes |_| No |X|

<PAGE>


                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                     Page
<S>                                                                                   <C>
PART I -      FINANCIAL INFORMATION....................................................1

     Item 1.  Financial Statements.....................................................1

     Item 2.  Management's Discussion and Analysis or Plan of Operation................7

     Item 3.  Controls and Procedures..................................................9

PART II -     OTHER INFORMATION........................................................9

     Item 1.  Legal Proceedings........................................................9

     Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds..............9

     Item 3.  Defaults Upon Senior Securities.........................................10

     Item 4.  Submission of Matters To a Vote of Security Holders.....................10

     Item 5.  Other Information.......................................................10

     Item 6.  Exhibits................................................................10
</TABLE>


                                      i
<PAGE>

      PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements.

                      China Mineral Acquisition Corporation
                    (a corporation in the development stage)
                                  Balance Sheet

<TABLE>
<CAPTION>
                                                                    June 30, 2005
                                                                     (Unaudited)     December 31, 2004
                                                                     -----------     -----------------
<S>                                                                  <C>               <C>
ASSETS

     Current Assets:

     Cash                                                            $    594,498      $    872,883

     Investments held in trust                                         20,723,322        20,513,684

     Prepaid expenses                                                       1,833             7,333
                                                                     ------------      ------------
     Total Assets                                                    $ 21,319,653      $ 21,393,900
                                                                     ============      ============

LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities:

     Accrued expenses                                                $    198,583      $     96,945

     Deferred interest                                                     64,632            22,725
                                                                     ------------      ------------
     Total current liabilities                                            263,215           119,670
                                                                     ------------      ------------
     Common stock subject to possible conversion to cash,
        799,600 shares at conversion value                              4,077,960         4,077,960
                                                                     ------------      ------------
Commitments

Stockholders' Equity

     Preferred stock, $.0001 par value,
        Authorized 1,000,000 shares, none issued                               --                --

     Common stock, $.001 par value,
        Authorized, 20,000,000 shares
        Issued and outstanding, 5,000,000 shares (which includes
        799,600 shares subject to conversion)                                 500               500

     Additional paid in capital                                        17,220,535        17,220,535

     Deficit accumulated during the development stage                    (242,557)          (24,765)
                                                                     ------------      ------------
     Total stockholders' equity                                        16,978,478        17,196,270
                                                                     ------------      ------------
     Total liabilities and stockholders' equity                      $ 21,319,653      $ 21,393,900
                                                                     ============      ============
</TABLE>

           See accompanying notes to unaudited financial statements.

<PAGE>

                      China Mineral Acquisition Corporation
                    (a corporation in the development stage)
                            Statements of Operations
                                   (Unaudited)

<TABLE>
<CAPTION>


                                                For the period                    For the period
                                                from March 30,                    from March 30,
                                                     2004                              2004             Three Months Ended
                                                (inception) to  Six Months Ended  (inception) to       --------------------
                                                June 30, 2005   June 30, 2005     June 30, 2004    June 30, 2005   June 30, 2004
                                                -------------   -------------     -------------    -------------   -------------

Capital based taxes                                 100,810         46,180                --           23,090             --

Other formation and operating costs                  26,285         13,716               646           12,218             85

Consulting and other professional fees              248,696        240,528                --          156,439             --

Legal and accounting fees                            65,410         40,863                --            5,000             --

Travel                                               59,428         44,237                --           25,030             --
                                                -------------   -------------     -------------    -------------  -------------
Operating loss                                     (500,629)      (385,524)             (646)        (221,777)           (85)

Interest expense                                       (619)            --                --               --             --

Interest income                                     258,691        167,732                --          109,865             --
                                                -------------   -------------     -------------    -------------  -------------
<S>                                                <C>          <C>               <C>              <C>            <C>
Net loss                                           (242,557)      (217,792)             (646)        (111,912)           (85)
                                                =============   =============     =============    =============  =============
Weighted  average  number  of  shares - basic                    5,000,000         1,000,000        5,000,000      1,000,000
   and diluted
                                                                =============     =============    =============  =============
Net loss per share - basic and diluted                          $    (0.04)       $    (0.00)      $    (0.02)    $    (0.00)
                                                                =============     =============    =============  =============
</TABLE>

           See accompanying notes to unaudited financial statements.


                                       2
<PAGE>

                      China Mineral Acquisition Corporation
                    (A Corporation in the Development Stage)
                       Statements of Stockholders' Equity
         For the period from March 30, 2004 (inception) to June 30, 2005

<TABLE>
<CAPTION>
                                                                                             Earnings
                                                                                           accumulated
                                                                            Addition        during the
                                                                            paid-in        development        Stockholders'
                                                  Common Stock              capital           stage             Equity
                                              ---------------------       ------------     ------------       ------------
                                              Shares         Amount
<S>                                        <C>           <C>              <C>               <C>               <C>
Balance March 30, 2004 (inception)                --     $         --     $         --      $         --      $         --

Common shares issued April 22, 2004
   at $.0333 per share                       750,000               75           24,900                --            24,975

Common shares issued April 22, 2004
   at $.0001 per share                       250,000               25               --                --                25

Sale of 4,000,000 shares, net of
   underwriters' discount and
   offering expenses (includes
   799,600 shares subject to
   possible conversion)                    4,000,000              400       21,273,495                --        21,273,895

Proceeds subject to possible
   conversion                                     --               --       (4,077,960)               --        (4,077,960)

Proceeds from issuance of option                  --               --              100                --               100
                                        ------------     ------------     ------------      ------------      ------------
Net loss                                          --               --               --           (24,765)          (24,765)
                                        ------------     ------------     ------------      ------------      ------------
Balance at December 31, 2004               5,000,000              500       17,220,535           (24,765)       17,196,270
                                        ------------     ------------     ------------      ------------      ------------
Net loss - unaudited                              --               --               --          (217,792)         (217,792)
                                        ------------     ------------     ------------      ------------      ------------
Balance at June 30, 2005 - unaudited        5,000,000     $        500     $ 17,220,535      $   (242,557)     $ 16,978,478
                                        ============     ============     ============      ============      ============
</TABLE>

           See accompanying notes to unaudited financial statements.


                                       3
<PAGE>

                      China Mineral Acquisition Corporation
                    (A Corporation in the Development Stage)
                       Statement of Cash Flows (unaudited)
                   March 30, 2004 (inception) to June 30, 2005

<TABLE>
<CAPTION>

                                                                                                 For the period
                                                                                                   from March 30,
                                                             For the period from  Six Months          2004
                                                               March 30, 2004       Ended         (inception) to
                                                             (inception) to June   June 30,          June 30,
                                                                  30, 2005           2005             2004
                                                             ------------------- ---------------    --------------
<S>                                                          <C>                  <C>              <C>
Cash flows from operating activities
    Net loss                                                 $   (242,557)        $   (217,792)    $       (646)
    Adjustments to reconcile net loss to net cash used in
      operating activities:
         (Increase) decrease in prepaid expenses                   (1,833)               5,500               --
         Increase in accrued expenses                             198,583              101,639           12,503
         Increase in deferred interest                             64,632               41,907               --
         Interest earned on investment held in trust             (323,293)            (213,530)              --
                                                             ------------         ------------     ------------
              Net cash used in operating activities              (304,468)            (282,276)         (11,857)
                                                             ------------         ------------     ------------
Cash flows from investing activities
    Purchases of treasury bills held in trust                 (61,692,903)         (41,293,409)              --
    Proceeds on disposal of treasury bill held in trust        41,293,000           41,293,000               --
    Money market funds held in trust                                 (126)               4,300               --
                                                             ------------         ------------     ------------
              Net cash provided by (used in) investing        (20,400,029)               3,891               --
                activities                                   ------------         ------------     ------------

Cash flows from financing activities
    Proceeds from note payable, stockholder                        35,000                   --           35,000
    Proceeds from sales of common stock                            25,000                   --           25,000
    Repayment of note payable, stockholder                        (35,000)                  --               --
    Gross proceeds of public offering                          24,000,000                   --               --
    Payment of costs of public offering                        (2,726,105)                  --          (66,967)
    Proceeds from issuance of option                                  100                   --               --
                                                             ------------         ------------     ------------
              Net cash provided by financing activities        21,298,995                   --           (6,967)
                                                             ------------         ------------     ------------
Net increase (decrease) in cash                              $    594,498         $   (278,385)    $      4,890

Cash at beginning of period                                            --              872,883               --
                                                             ------------         ------------     ------------
Cash at end of period                                        $    594,498         $    594,498     $      4,890
                                                             ============         ============     ============
</TABLE>

           See accompanying notes to unaudited financial statements.


                                       4
<PAGE>

                      China Mineral Acquisition Corporation
                      (A Corporation in Development Stage)
                   Notes to the Unaudited Financial Statements
            Three Months and Six Months Ended June 30, 2005 and 2004

1.    Basis of Presentation

The financial  statements at June 30, 2005,  for the three months ended June 30,
2005 and June 30,  2004,  the six months  ended June 30,  2005,  the period from
March 30, 2004  (inception)  to June 30, 2004 and the period from March 30, 2004
(inception)  to June 30, 2005 are unaudited.  In the opinion of management,  all
adjustments  (consisting of normal recurring  accruals) have been made that are
necessary to present fairly the financial position of China Mineral  Acquisition
Corporation  (the  "Company")  as of  June  30,  2005  and  the  results  of its
operations  for the three months ended June 30, 2005 and June 30, 2004,  the six
months ended June 30, 2005,  the period from March 30, 2004  (inception) to June
30, 2004 and the period from March 30, 2004  (inception)  to June 30, 2005,  its
cash flows for the six months  ended June 30,  2005,  the period  from March 30,
2004 (inception) to June 30, 2004 and the period from March 30, 2004 (inception)
to June 30,  2005 and its  changes  in  stockholder's  equity  for the six month
period ended June 30, 2005.  Operating results for the interim periods presented
are not necessarily indicative of the results to be expected for a full year.

      The statements and related notes have been prepared  pursuant to the rules
and  regulations of the U.S.  Securities and Exchange  Commission.  Accordingly,
certain  information  and footnote  disclosures  normally  included in financial
statements prepared in accordance with generally accepted accounting  principles
have  been  omitted  pursuant  to such  rules  and  regulations.  The  financial
statements should be read in conjunction with the financial statements that were
included in the Company's Annual Report on Form 10-KSB for the fiscal year ended
December 31, 2004.

2.    Organization And Business Operations

      The Company was  incorporated  on March 30, 2004 as a blank check  company
whose  objective  is to acquire a company  with its  primary  operations  in the
People's  Republic  of China  that is engaged  in the  mining of  minerals.  The
registration   statement  for  the  Company's   initial  public   offering  (the
"Offering") was declared effective August 24, 2004. The Company  consummated the
Offering  on  August  30,  2004  and  received  net  proceeds  of  approximately
$21,274,000.  The Company's  management has broad discretion with respect to the
specific application of the net proceeds of the Offering, although substantially
all of the net proceeds of the  Offering  are  intended to be generally  applied
toward  consummating  a business  combination  with a company  with its  primary
operations  in the  People's  Republic of China that is engaged in the mining of
minerals  (a  "Business  Combination").  An  amount  of  $20,400,000  of the net
proceeds of the Offering was placed in an  interest-bearing  trust  account (the
"Trust Fund") until the earlier of the (i)  consummation  of the Company's first
Business  Combination or (ii)  liquidation  of the Company.  Under the agreement
governing  the  Trust  Fund,  funds  will  only be  invested  in  United  States
government  securities  (Treasury  Bills)  with a maturity  of 180 days or less.
Substantially  all of this  amount has been  invested  in a Treasury  Bill.  The
Treasury Bill has been accounted for as a trading  security,  and is recorded at
its market value.  The investments held in trust amounted to $20,723,322 at June
30,  2005.  The  excess of market  value over cost,  exclusive  of the  deferred
interest  described  below,  are included in interest income in the accompanying
statement  of  operations.  The  remaining  net  proceeds may be used to pay for
business,  legal and accounting due diligence on  prospective  acquisitions  and
continuing general and administrative expenses.

      The Company, after signing a definitive agreement for the acquisition of a
target business,  will submit such transaction for stockholder  approval. In the
event that  stockholders  owning 20% or more of the outstanding stock excluding,
for this  purpose,  those persons who were  stockholders  prior to the Offering,
vote  against the Business  Combination  and exercise  their  conversion  rights
described  below, the Business  Combination will not be consummated.  All of the
Company's stockholders prior to the Offering,  which are comprised of all of the
officers and directors of the Company ("Initial  Stockholders"),  have agreed to
vote their 1,000,000 founding shares of common stock in accordance with the vote
of the majority in interest of all other  stockholders  of the Company  ("Public
Stockholders") with respect to the Business  Combination.  After consummation of
the  Business  Combination,  all of these  voting  safeguards  will no longer be
applicable.


                                       5
<PAGE>

      With respect to a Business  Combination which is approved and consummated,
any Public  Stockholder  who voted against the Business  Combination  may demand
that the Company convert his shares to cash. The per share conversion price will
equal the amount in the Trust Fund as of the record  date for  determination  of
stockholders  entitled to vote on the Business Combination divided by the number
of shares of Common Stock held by Public Stockholders at the consummation of the
Offering. Accordingly, Public Stockholders holding up to 19.99% of the aggregate
number of shares owned by all Public  Stockholders  may seek conversion of their
shares in the event of a Business  Combination.  Such  Public  Stockholders  are
entitled to receive their per share interest in the Trust Fund computed  without
regard to the shares held by Initial Stockholders. Accordingly, a portion of the
net proceeds  from the  Offering  (19.99% of the amount  originally  held in the
Trust Fund) has been  classified as Common Stock subject to possible  conversion
in the accompanying  balance sheets and 19.99% of the related interest earned on
the Treasury Bill has been recorded as deferred interest.

      The Company's Amended and Restated  Certificate of Incorporation  provides
for mandatory  liquidation of the Company,  without stockholder approval, in the
event that the Company  does not  consummate  a Business  Combination  within 18
months  from the date of the  consummation  of the  Offering,  or 24  months  if
certain extension criteria have been satisfied. In the event of liquidation,  it
is likely that the per share value of the residual  assets  remaining  available
for  distribution  (including  Trust Fund  assets) will be less than the initial
public  offering  price per share in the  Offering  due to costs  related to the
Offering and since no value would be attributed to the Warrants contained in the
Units sold (as defined in Note 3).

3.    Initial Public Offering

      On August 30, 2004,  the Company  sold  4,000,000  units  ("Units") in the
Offering.  Each Unit  consists of one share of the Company's  common stock,  par
value $.0001 per share (the "Common  Stock"),  and two  redeemable  common stock
purchase warrants ("Warrants"). Each Warrant will entitle the holder to purchase
from the  Company one share of Common  Stock at an  exercise  price of $5.00 per
share  commencing the later of the completion of a Business  Combination  with a
target  business or August 24, 2005. The Warrants expire on August 24, 2009. The
Warrants  will be redeemable at a price of $.01 per Warrant upon 30 days' notice
after the  Warrants  become  exercisable,  only in the event  that the last sale
price of the Common  Stock is at least  $8.50 per share for any 20 trading  days
within a 30  trading  day  period  ending  on the third day prior to the date on
which notice of  redemption  is given.  In  connection  with the  Offering,  the
Company issued, for $100, an option to the representative of the underwriters to
purchase  300,000  Units at an exercise  price of $7.50 per Unit.  The  warrants
underlying such Units are exercisable at $6.65 per share.

4.    Commitments

      In  January  2005,  the  Company   entered  into   agreements  with  three
unaffiliated parties to assist the Company with, among other things, identifying
and selecting  qualified  target business  candidates.  One of these parties was
entitled to monthly  retainer  fees of $15,000 and may be entitled to a finder's
fee  of 1% of the  value  of  the  acquisition  value  of a  qualified  Business
Combination  in certain  circumstances,  as  defined  therein.  Included  in the
statements of operations for the three-month and six-month period ended June 30,
2005 were  approximately  $45,000 and  $90,000,  respectively,  relating to this
agreement. This agreement has terminated as of July 6, 2005. The Company entered
into a consulting  agreement  with another  entity whereby it receives a monthly
fee of $10,000 and may be  entitled  to a success  fee of 2% of the  acquisition
value  of  a  qualified  Business  Combination.   Pursuant  to  this  consulting
agreement,  the consultant is entitled to reimbursement  for office,  travel and
other expenses. Included in the statements of operations for the three-month and
six-month  period  ended June 30, 2005 were  approximately  $41,000 and $87,000,
respectively,  relating to this agreement.  This consulting agreement expires on
the earlier of January 24, 2006 or the date on which the Company  consummates  a
Business  Combination.  Pursuant to each of the aforementioned  agreements,  the
finder's fee and the success fee, if any,  will be payable by the Company on the
closing  date of the  Business  Combination  and may be payable  in cash  and/or
restricted  shares of the  Company,  at its  option.  In  addition,  the Company
entered into a non-exclusive agreement with a third unaffiliated party to assist
it with  identifying and selecting  qualified target business  candidates.  This
party is not entitled to any monthly  retainer  fees,  but will be entitled to a
finder's fee of 1.8% should the Company  consummate a Business  Combination with
an entity  introduced to it by this party. This agreement expires on January 10,
2007.

      In April 2005, we entered into an agreement with an unaffiliated  party to
assist us in identifying and selecting a qualified  target  business  engaged in
mining  operations  in the PRC.  We agreed to pay this  third  party a  one-time
$50,000  fee.  This party is not  entitled  to any  finder's  fee or success fee
should we consummate a Business  Combination with a target business  referred to
us by this party. The agreement with this party terminates in April 2006.


                                       6
<PAGE>

5.    Preferred Stock

      The Company is authorized  to issue  1,000,000  shares of preferred  stock
with such  designations,  voting  and other  rights  and  preferences  as may be
determined from time to time by the Board of Directors.  As of June 30, 2005, no
shares of preferred stock are outstanding.

6.    Common Stock

      At June 30,  2005,  8,900,000  shares of common  stock were  reserved  for
issuance upon exercise of redeemable  warrants and  underwriters'  unit purchase
option.

7.    Earnings Per Share

      Loss per share is computed by  dividing  net loss by the  weighted-average
number of shares of common  stock  outstanding  during the period.  The loss per
share calculation excludes the effect of outstanding options and warrants, since
the Company  incurred a net loss during the periods and thus their  effect would
have been anti-dilutive.

Item 2. Management's Discussion and Analysis or Plan of Operation.

Forward-Looking Statements

      The  statements  discussed in the quarterly  report on Form 10-QSB include
forward looking statements that involve risks and  uncertainties,  including the
timely  delivery and  acceptance  of our products and other risks  detailed from
time to time in our reports filed with the Securities and Exchange Commission.

Critical Accounting Policies

      The  preparation  of financial  statements in conformity  with  accounting
principles   generally  accepted  in  the  United  States  of  America  requires
management to make estimates and assumptions that affect the reported amounts of
assets and liabilities at the date of the financial  statements and the reported
amounts of expenses  during the reporting  period.  Actual  results could differ
from those estimates.

      Management  does  not  believe  that  any  recently  issued,  but  not yet
effective,  accounting  standards  if  currently  adopted  would have a material
effect on the accompanying financial statements.

Business Overview

      We were formed on March 30, 2004 to serve as a vehicle to effect a merger,
capital stock exchange,  asset acquisition or other similar business combination
with a company with its primary  operations  in the  People's  Republic of China
that is engaged in the mining of  minerals.  We intend to utilize  cash  derived
from the proceeds of our initial public offering,  our capital stock,  debt or a
combination of cash, capital stock and debt, to effect a business combination.

Results of Operations

      We had a net loss of $111,912  for the three months ended June 30, 2005 as
compared  to a net loss of $85 for the three  months  ended June 30,  2004.  The
increase  in net loss was the result of an  increase  in  operating  expenses in
connection  with,  among other things,  our filing  reports under the Securities
Exchange  Act of 1934 and costs  incurred in  connection  with  searching  for a
potential target business,  including  consulting fees and travel expenses.  For
the three months ended June 30, 2005,  we incurred  $25,030 of travel  expenses,
$5,000 for legal and  accounting  fees and  $156,439  for  consulting  and other
professional  fees,  $23,090 of capital based taxes and other operating costs of
$12,218,  offset by interest  income on the Trust Fund investment of $109,865 as
compared  to the same  period in 2004 when we  incurred  only $85 of expenses in
connection with formation and operating costs.


                                       7
<PAGE>

      For the six months  ended June 30,  2005,  we had a net loss of  $217,792,
which included $46,180 of capital based taxes,  $240,528 of consulting and other
professional  fees,  $40,863  of legal and  accounting  fees,  $44,237 of travel
expenses and $13,716 of other operating costs,  offset by interest income on the
Trust  Fund  investments  of  167,732.   The  increase  in  consulting  fees  is
attributable  in part  to the  monthly  retainer  fees of  $15,000  and  $10,000
respectively, and related expenses we have been paying to two unaffiliated third
parties since January 2005, as discussed in further  detail below.  In addition,
in April 2005, we agreed to pay another  unaffiliated third party a one-time fee
of $50,000 for providing  similar  services.  For the period from March 30, 2004
(date  of our  inception)  to  June  30,  2004,  we had a net  loss  for $85 for
formation and operating costs.

      Net loss of $242,557  for the period from March 30,  2004  (inception)  to
June 30, 2005 consisted of $59,428 of travel expenses, $100,810 of capital based
taxes,  $65,410 for legal and  accounting  fees and $248,696 for  consulting and
other  professional  fees,  other  formation  and  operating  costs of  $26,285,
interest expense of $619, offset by interest income on the Trust Fund investment
of $258,691.

      We  consummated  our initial  public  offering on August 30,  2004.  Gross
proceeds from our initial public offering were  $24,000,000.  We paid a total of
$1,800,000 in underwriting discounts and commissions, and approximately $926,000
was  paid or will be paid  for  costs  and  expenses  related  to the  offering,
including $480,000 for the underwriters' non-accountable expense allowance of 2%
of  the  gross  proceeds.   After  deducting  the  underwriting   discounts  and
commissions  and the  offering  expenses,  the total net proceeds to us from the
offering were approximately $21,274,000,  of which approximately $20,400,000 was
deposited  into the trust fund. As of June 30, 2005, we have $594,498  available
to be used by us to provide for business,  legal and accounting due diligence on
prospective  acquisitions and continuing general and administrative expenses. We
will use substantially all of the net proceeds of our initial public offering to
acquire a target  business,  including  identifying  and evaluating  prospective
acquisition   candidates,   selecting  the  target  business,  and  structuring,
negotiating and  consummating the business  combination.  To the extent that our
capital stock is used in whole or in part as  consideration to effect a business
combination,  the  proceeds  held in the  trust  fund as well as any  other  net
proceeds  not  expended  will be used to finance  the  operations  of the target
business.  We believe we will have  sufficient  available  funds  outside of the
trust fund to operate  until such time as we are able to  consummate  a business
combination  or  otherwise  liquidate.  We do not  believe we will need to raise
additional  funds,  other  than  those  funds we  raised in our  initial  public
offering, in order to meet the expenditures required for operating our business.
However,  we may need to raise  additional  funds through a private  offering of
debt or equity  securities  if such funds are required to  consummate a business
combination  that is  presented  to us.  We would  only  consummate  such a fund
raising simultaneously with the consummation of a business combination.

      In  January  2005,  we entered  into  agreements  with three  unaffiliated
parties  to  assist us with,  among  other  things,  identifying  and  selecting
qualified  target  business  candidates.  One of these  parties was  entitled to
monthly  retainer fees of $15,000 and may be entitled to a finder's fee of 1% of
the  value of the  acquisition  value of a  qualified  business  combination  in
certain  circumstances,  as  defined  therein.  Included  in the  statements  of
operations  for the  three-month  and six-month  period ended June 30, 2005 were
approximately  $45,000 and $90,000,  respectively,  relating to this  agreement.
This  agreement has  terminated as of July 6, 2005. We entered into a consulting
agreement  with another  entity whereby it receives a monthly fee of $10,000 and
may be entitled to a success fee of 2% of the  acquisition  value of a qualified
business combination.  Pursuant to this consulting agreement,  the consultant is
entitled to reimbursement for office, travel and other expenses. Included in the
statements of operations for the three-month and six-month period ended June 30,
2005 were  approximately  $41,000 and  $87,000,  respectively,  relating to this
agreement.  This consulting agreement expires on the earlier of January 24, 2006
or the date on which we consummate a business  combination.  Pursuant to each of
the  aforementioned  agreements,  the  finder's fee and the success fee, if any,
will be payable by us on the closing date of the business combination and may be
payable in cash and/or  restricted  shares of our  company,  at our  option.  In
addition,  we entered into a non-exclusive  agreement with a third  unaffiliated
party to assist us with  identifying  and selecting  qualified  target  business
candidates. This party is not entitled to any monthly retainer fees, but will be
entitled to a finder's fee of 1.8% should we  consummate a business  acquisition
with an entity introduced to us by this party. This agreement expires on January
10, 2007.


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<PAGE>

      In April 2005, we entered into an agreement with an unaffiliated  party to
assist us in identifying and selecting a qualified  target  business  engaged in
mining  operations  in the PRC.  We agreed to pay this  third  party a  one-time
$50,000  fee.  This party is not  entitled  to any  finder's  fee or success fee
should we consummate a business  combination with a target business  referred to
us by this party. The agreement with this party terminates in April 2006.

Off-Balance Sheet Arrangements

      We do not have any off-balance  sheet  arrangements.

Item 3. Controls and Procedures.

      We maintain  "disclosure controls and procedures," as such term is defined
under Exchange Act Rule 13a-15(e),  that are designed to ensure that information
required to be disclosed  in our  Exchange  Act reports is recorded,  processed,
summarized,  and reported  within the time periods  specified in the SEC's rules
and forms,  and that such  information is accumulated  and  communicated  to our
management,  including our Chief Executive Officer and Chief Financial  Officer,
as appropriate,  to allow timely decisions  regarding required  disclosures.  In
designing and evaluating the disclosure controls and procedures,  our management
recognized  that any controls and  procedures,  no matter how well  designed and
operated, can provide only reasonable assurance of achieving the desired control
objectives  and in  reaching a  reasonable  level of  assurance  our  management
necessarily  was required to apply its judgment in evaluating  the  cost-benefit
relationship  of  possible  controls  and  procedures.  We have  carried  out an
evaluation  under the supervision and with the  participation of our management,
including  our Chief  Executive  Officer  and Chief  Financial  Officer,  of the
effectiveness  of the  design  and  operation  of our  disclosure  controls  and
procedures as of June 30, 2005.  Based upon their  evaluation and subject to the
foregoing,  the Chief Executive  Officer and Chief Financial  Officer  concluded
that as of June 30, 2005 our disclosure  controls and procedures  were effective
at the reasonable assurance level in ensuring that material information relating
to us, is made known to the Chief Executive  Officer and Chief Financial Officer
by others  within our  company  during the period in which this report was being
prepared.

      There were no changes in our internal  controls or in other factors during
the most recent quarter that has materially affected, or is reasonably likely to
materially affect, our internal controls over financial reporting.

      PART II - OTHER INFORMATION

Item 1. Legal Proceedings.

      We are not currently a party to any pending material legal proceeding.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

Initial Public Offering

      On August 30,  2004,  we closed our initial  public  offering of 4,000,000
units,  with  each unit  consisting  of one  share of our  common  stock and two
warrants, each to purchase one share of our common stock at an exercise price of
$5.00 per  share.  The units were sold at an  offering  price of $6.00 per unit,
generating  gross  proceeds of  $24,000,000.  The  managing  underwriter  in the
offering  was  Broadband  Capital  Management  LLC. The  securities  sold in the
offering were  registered  under the  Securities  Act of 1933 on a  registration
statement on Form S-1 (No.  333-115999).  The Securities and Exchange Commission
declared the registration statement effective on August 24, 2004.

      We paid a total of $1,800,000 in  underwriting  discounts and  commissions
and approximately $926,000 for other costs and expenses related to the offering,
including $480,000 for the underwriters' non-accountable expense allowance of 2%
of  the  gross  proceeds.   After  deducting  the  underwriting   discounts  and
commissions and the other offering  expenses,  the total net proceeds to us from
the offering were approximately $21,274,000,  of which approximately $20,400,000
was deposited into a trust fund and the remaining proceeds of $874,000 are to be
used to provide for business,  legal and accounting due diligence on prospective
business combinations and continuing operating expenses.  Through June 30, 2005,
we have used approximately  $304,469 of the net proceeds that were not deposited
into the trust fund to pay operating  expenses.  The net proceeds deposited into
the trust fund remain on deposit in the trust fund earning interest.  As of June
30, 2005, there was approximately $20,723,322 held in the trust fund.


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<PAGE>

Item 3. Defaults Upon Senior Securities.

        Not applicable.

Item 4. Submission of Matters To a Vote of Security Holders.

        Not applicable.

Item 5. Other Information.

        Not applicable.

Item 6. Exhibits

            31.1  Certification of the Principal  Executive  Officer pursuant to
                  Section 302 of the Sarbanes-Oxley Act of 2002.

            31.2  Certification of the Principal  Financial  Officer pursuant to
                  Section 302 of the Sarbanes-Oxley Act of 2002.

            32.1  Certification of the Principal  Executive  Officer pursuant to
                  Section 906 of the Sarbanes-Oxley Act of 2002.

            32.2  Certification of the Principal  Financial  Officer pursuant to
                  Section 906 of the Sarbanes-Oxley Act of 2002.


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<PAGE>

                                   SIGNATURES

      In accordance  with Section 13 or 15(d) of the Securities  Exchange Act of
1934,  the  Registrant  caused  this  report to be  signed on its  behalf by the
undersigned, thereunto duly authorized.



                                   CHINA MINERAL ACQUISITION CORPORATION
                                    (Registrant)

Date:  August 15, 2005             By:    /s/ Simon Mu
                                      ------------------------
                                   Name:  Simon Mu
                                   Title: President and Chief Executive Officer
                                   (Principal Executive Officer)

Date:  August 15, 2005             By:    /s/ Bing Zhao
                                      ------------------------
                                   Title: President and Chief
                                   Name:  Bing Zhao
                                   Title: Chief Financial Officer
                                   (Principal Financial Officer)


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