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 September 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)

                                 (646) 240-8377
                (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 |_|

      Indicate  by check mark  whether  the  registrant  is a shell  company (as
defined in Rule 12b-2 of the Exchange Act). Yes |X| No |_|

      There were  5,000,000  shares of the  Company's  common  stock,  par value
$0.001 per share, outstanding as of November 11, 2005.

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

<PAGE>

<TABLE>
<CAPTION>
                                TABLE OF CONTENTS

                                                                                                               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>

                                                                         September 30,
                                                                              2005
                                                                          (Unaudited)          December 31, 2004
                                                                         ---------------        -----------------
ASSETS

Current Assets:

<S>                                                                      <C>                    <C>
     Cash                                                                $      401,905         $       872,883

     Investments held in trust                                               20,891,085              20,513,684

     Prepaid expenses                                                             1,833                   7,333
                                                                         ---------------        ---------------
     Total assets                                                        $   21,294,823         $    21,393,900
                                                                         ===============        ===============
LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities:

     Accrued expenses                                                    $      142,118         $        96,945

     Deferred interest                                                           98,168                  22,725
                                                                         ---------------        ---------------
     Total current liabilities                                                  240,286                 119,670
                                                                         ---------------        ---------------
Common stock subject to possible cash redemption by investors,
799,600 shares at redemption value                                            4,077,960               4,077,960
                                                                         ---------------        ---------------
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 redemption)                                       500                     500

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

     Deficit accumulated during the development stage                          (244,458)               (24,765)
                                                                         ---------------        ---------------
     Total stockholders' equity                                              16,976,577              17,196,270
                                                                         ---------------        ---------------
     Total liabilities and stockholders' equity                          $   21,294,823         $    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 from
                                                   March 30,                        For the period
                                                      2004                          from March 30,
                                                  (inception)      Nine Months         2004 to            Three Months Ended
                                                  September            Ended        (inception) to  -----------------------------
                                                    30, 2005        September 30,    September 30,  September 30,    September 30,
                                                  (cumulative )        2005             2004           2005             2004
                                                    -----------     -----------     -----------     -------------   -------------




<S>                                              <C>             <C>             <C>             <C>             <C>
Capital based taxes                              $   123,900     $    69,271     $        --     $    23,090     $        --

Other formation and operating costs                   26,473          13,903           7,863             188           7,302

Consulting and other professional fees               303,286         295,118              --          54,590              --

Legal and accounting fees                             98,778          74,231              --          33,368              --

Travel                                                84,320          69,129              --          24,892              --
                                                 -----------     -----------     -----------     -----------     -----------
Operating loss                                      (636,757)       (521,652)         (7,863)       (136,128)         (7,302)

Interest expense                                        (619)             --            (619)             --            (350)

Interest income                                      392,918         301,959          10,592         134,227          10,592
                                                 -----------     -----------     -----------     -----------     -----------
(Loss) income before taxation                       (244,458)       (219,693)          2,110          (1,901)          2,940

Provision for income taxes                                --              --             650              --             650
                                                 -----------     -----------     -----------     -----------     -----------
Net (loss) income                                $  (244,458)    $  (219,693)    $     1,460     $    (1,901)    $     2,290
                                                 ===========     ===========     ===========     ===========     ===========
Weighted  average  number  of  shares - basic                      5,000,000       1,691,892       5,000,000       2,391,304
   and diluted                                                   ===========     ===========     ===========     ===========

Net (loss) per share - basic and diluted                         $     (0.04)    $      0.00     $     (0.00)    $      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 (unaudited)
      For the period from March 30, 2004 (inception) to September 30, 2005

<TABLE>
<CAPTION>
                                                                                             Deficit
                                                                                           accumulated
                                                                          Additional        during the
                                                                            paid-in        development      Stockholders'
                                                   Common Stock             capital           stage             Equity
                                          ----------------------------    ------------     ------------     ------------
                                             Shares          Amount
                                          ------------    ------------
Common shares issued April 22, 2004
<S>                                        <C>        <C>             <C>              <C>              <C>
   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 redemption)                   4,000,000             400      21,273,495               --       21,273,895

Proceeds subject to possible
   redemption                                    --              --      (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                                         --              --              --         (219,693)        (219,693)
                                       ------------    ------------    ------------     ------------     ------------
Balance at September 30, 2005             5,000,000    $        500    $ 17,220,535     $   (244,458)    $ 16,976,577
                                       ============    ============    ============     ============     ============
</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 September 30, 2005
<TABLE>
<CAPTION>


                                                                    For the period from                        For the period
                                                                      March 30, 2004         Nine Months       from March 30,
                                                                      (inception) to       Ended September    2004 (inception)
                                                                    September 30, 2005           30,          to September 30,
                                                                       (cumulative)             2005                 2004
                                                                      ------------        ------------           ------------
Cash flows from operating activities
<S>                                                                   <C>                 <C>                 <C>
    Net Income (loss)                                                 $   (244,458)       $   (219,693)       $      1,460
    Adjustments to reconcile net loss to net cash used in
      operating activities:
           Increase (decrease) in prepaid expenses                          (1,833)              5,500             (10,083)
           Increase in accrued expenses                                    142,118              45,174               7,574
           Increase in deferred interest                                    98,168              75,443               2,646
           Interest earned on investment held in trust                    (491,055)           (381,291)             (9,318)
                                                                      ------------        ------------        ------------
Net cash used in operating activities                                     (497,060)           (474,868)             (7,721)
                                                                      ------------        ------------        ------------
Cash flows from investing activities
    Purchases of treasury bills held in trust                          (82,560,466)        (62,160,972)        (20,399,494)
    Proceeds on disposal of treasury bill held in trust                 62,161,000          62,161,000                  --
    Money market funds held in trust                                          (564)              3,862              (4,426)
                                                                      ------------        ------------        ------------
Net cash provided by (used in) investing activities                    (20,400,030)              3,890         (20,403,920)
                                                                      ------------        ------------        ------------
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                  --          24,000,000
    Payment of costs of public offering                                 (2,726,105)                 --          (2,708,096)
    Proceeds from issuance of option                                           100                  --                 100
                                                                      ------------        ------------        ------------
Net cash provided by financing activities                               21,298,995                  --          21,352,004
                                                                      ------------        ------------        ------------
Net increase (decrease) in cash                                            401,905            (470,978)            940,363

Cash at beginning of period                                                     --             872,883                  --
                                                                      ------------        ------------        ------------
Cash at end of period                                                 $    401,905        $    401,905        $    940,363
                                                                      ============        ============        ============
</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 September 30, 2005 and 2004

1.    Basis of Presentation

      The financial  statements of China Mineral  Acquisition  Corporation  (the
"Company") at September 30, 2005, for the three months ended  September 30, 2005
and September  30, 2004,  the nine months ended  September 30, 2005,  the period
from March 30, 2004  (inception) to September 30, 2004 and the period from March
30, 2004  (inception)  to September  30, 2005 are  unaudited.  In the opinion of
management,  all adjustments (consisting of normal accruals) have been made that
are  necessary  to present  fairly the  financial  position of the Company as of
September 30, 2005, the results of its operations for the three months September
30, 2005 and  September  30, 2004,  and the results of its  operations  and cash
flows for the nine months ended  September  30, 2005,  the period from March 30,
2004  (inception)  to  September  30,  2004 and the period  from March 30,  2004
(inception)  to  September  30,  2005  (cumulative).  Operating  results for the
interim periods  presented are not  necessarily  indicative of the results to be
expected for a full fiscal 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 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  ("Business
Combination").  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.  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 are  invested  in United  States  government  securities
(Treasury Bills) with a maturity of 180 days or less.  Substantially all of this
amount have been  invested  in  Treasury  Bills.  The  Treasury  Bills have been
accounted for as a trading  security,  and is recorded at its market value.  The
investments held in trust amounted to approximately $20,891,085 at September 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.  If
stockholders  ("Public  Stockholders") owning 20% or more of the stock issued in
the  Offering,   vote  against  the  Business  Combination  and  exercise  their
redemption  rights  described  below,  the  Business  Combination  will  not  be
consummated.  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 redeem his shares for cash.  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
redemption in the accompanying balance sheets and 19.99% of the related interest
earned on the Treasury Bills has been recorded as deferred interest.

      With  respect  to  the  Business   Combination,   all  of  the   Company's
stockholders prior to the Offering, have agreed to vote their 1,000,000 founding
shares of common stock in  accordance  with the vote of the Public  Stockholders
holding a majority of the shares sold in the Offering. After consummation of the
Business Combination, all of these voting safeguards terminate.

                                       5
<PAGE>

      The Company's Amended and Restated  Certificate of Incorporation  provided
for mandatory  liquidation of the Company,  without stockholder approval, if the
Company did not  consummate  a Business  Combination  on  February  28, 2006 (18
months from the date of the  consummation  of the Offering),  or August 30, 2006
(24  months  from the  date of the  consummation  of the  Offering)  if  certain
extension  criteria were 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  upon the completion of a Business  Combination  with a target
business.  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 it with,  among other  things,  identifying  and
selecting qualified target business  candidates.  The first of these parties was
entitled to a monthly  retainer of $15,000 and, under certain  circumstances,  a
finder's  fee in  the  amount  of 1% of the  acquisition  value  of a  qualified
business  combination.  This agreement  terminated in July 2005. Included in the
statement  of  operations  for the three  month  and nine  month  periods  ended
September  30,  2005  were  $0  and  $90,000,  respectively,  relating  to  this
agreement.  The second of these  parties is  entitled  to a monthly  retainer of
$10,000  per month,  plus  costs and  expenses,  and a success  fee of 2% of the
acquisition  value  of  a  qualified  business  combination.   Included  in  the
statements  of  operations  for the three  month and nine  month  periods  ended
September  30,  2005 were  approximately  $42,730  and  $129,730,  respectively,
relating to this  agreement.  This  agreement  terminates  on the earlier of the
completion by the Company of a qualified business  combination and January 2006.
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 the Company's  option.  The third of these
parties 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, the Company  entered into an agreement with an unaffiliated
party to assist it in identifying and selecting a qualified target business. The
Company  agreed  to pay a  one-time  $50,000  fee,  which  is  reflected  in the
statements of  operations  for the nine months ended  September  30, 2005.  This
party is not  entitled  to any  finder's  fee or success  fee should the Company
consummate a business  combination with a target business referred to it 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  September  30,
2005, no shares of preferred stock are outstanding.

6.    Common Stock

      At September 30, 2005,  8,900,000 shares of common stock were reserved for
issuance  upon  exercise of the Warrants  and the  underwriter's  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 the outstanding  option 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.

      The following  discussion should be read in conjunction with our Financial
Statements  and footnotes  thereto  contained in this  quarterly  report on Form
10-QSB.

Forward-Looking Statements

      The  statements  discussed in the quarterly  report on Form 10-QSB include
forward looking  statements that involve risks and uncertainties 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.

Plan of Operation

      We had a net loss of $1,901 for the three months ended  September 30, 2005
as compared to net income of $2,290 for the three  months  ended  September  30,
2004.  For the three months ended  September  30, 2005,  we incurred  $23,090 of
capital based taxes,  $188 of formation and other operating  costs,  $54,590 for
consulting and other  professional  fees,  $33,368 for legal and accounting fees
and  $24,892 of travel  expenses,  offset by  interest  income on the trust fund
investments of $134,227, as compared to the same period in 2004 when we incurred
only $7,302 of expenses in connection  with  formation  and operating  costs and
$350  of  interest  expense,  offset  by  interest  income  on  the  trust  fund
investments of $10,592.

                                       7
<PAGE>

      For the  nine  months  ended  September  30,  2005,  we had a net  loss of
$219,693.  During the nine months ended September 30, 2005, we incurred  $69,271
of capital based taxes, $13,903 of other formation and operating costs, $295,118
of consulting and other  professional fees, $74,231 of legal and accounting fees
and  $69,129 of travel  expenses,  offset by  interest  income on the trust fund
investments  of  $301,959.  For the period  from March 30, 2004  (inception)  to
September 30, 2004, we had net profit of $1,460. During this period, we incurred
$7,863 of other formation and operating  costs,  interest  expense of $619 and a
provision for income taxes of $650,  offset by interest income on the trust fund
investments of $10,592.

      Net loss of $244,458  for the period from March 30,  2004  (inception)  to
September  30, 2005  consisted of $123,900 of capital  based  taxes,  $26,473 of
other  formation  and operating  costs,  and $303,286 for  consulting  and other
professional  fees,  $98,778 for legal and accounting  fees,  travel expenses of
$84,320 and  interest  expense of $619,  offset by interest  income on the trust
fund investment of $392,918.

      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  September  30,  2005,  we have  $401,905
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.  If we
effect a business  combination,  the Offering proceeds not otherwise expended in
consummating  the  acquisition  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. The first of these parties was entitled to
a monthly retainer of $15,000 and, under certain  circumstances,  a finder's fee
in  the  amount  of  1%  of  the  acquisition  value  of  a  qualified  business
combination.  Included in our  statement of  operations  for the three month and
nine month periods ended  September 30, 2005 were $0 and $90,000,  respectively,
relating to this  agreement,  which expired  pursuant to its terms in July 2005.
The second of these  parties is  entitled  to a monthly  retainer of $10,000 per
month, plus costs and expenses, and a success fee of 2% of the acquisition value
of a qualified  business  combination.  Included in our statements of operations
for the three month and nine month periods ended September 30, 2005 were $42,730
and  $129,730,   respectively,   relating  to  this  agreement.  This  agreement
terminates the earlier of our completion of a qualified business combination and
January  2006.  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.  The third of these
parties 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  combination with an entity
introduced to us 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  operation  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.

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<PAGE>

      We will be forced to  liquidate  if we do not sign a letter of intent,  an
agreement in  principle  or a  definitive  agreement by February 28, 2006 with a
target  business in connection with a business  combination.  If we sign such an
agreement,  we will have an  additional  six months to  consummate  the business
combination with such target business.

Off-Balance Sheet Arrangements

      We do not have any off-balance sheet arrangements.

Item 3. Controls and Procedures.

      Disclosure controls and procedures are designed to ensure that information
required to be  disclosed in our reports  filed or submitted  under the Exchange
Act is recorded,  processed,  summarized  and  reported  within the time periods
specified  in the SEC's  rules and forms.  Disclosure  controls  and  procedures
include,  without  limitation,  controls and procedures  designed to ensure that
information required to be disclosed in our reports filed or submitted under the
Exchange Act is accumulated and  communicated  to our management,  including our
chief executive officer and chief financial  officer,  to allow timely decisions
regarding required disclosure.  We carried out an evaluation as of September 30,
2005,  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.  Based  upon  and as of the  date  of  this  evaluation,  our  chief
executive  officer and chief  financial  officer  concluded  that our disclosure
controls and procedures were effective to ensure that information required to be
disclosed  in the reports we file and submit under the Exchange Act is recorded,
processed, summarized and reported as and when required.

      There were no changes in our internal control over financial  reporting or
in other  factors  that has  materially  affected,  or is  reasonably  likely to
materially affect, our internal control 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 September 30,
2005,  we have used  approximately  $472,095 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 September 30, 2005, there was approximately  $20,891,085 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:  November 14, 2005         By: /s/ Simon Mu
                                    ------------------
                                    Name: Simon Mu
                                    Title: President and Chief Executive Officer
                                    (Principal Executive Officer)

Date:  November 14, 2005         By: /s/ Bing Zhao
                                    -------------------
                                    Name: Bing Zhao
                                    Title: Chief Financial Officer
                                    (Principal Financial Officer)

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