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Slower diamond demand growth foreseen for 2012
Posted on August 14, 2012
Growth in global diamond demand will probably slow this year to 3% to 5%, Varda Shine, CEO of the Diamond Trading Co, De Beers SA’ trading arm.
Mining companies should chase more M&As – JPMorgan
Posted on June 13, 2012
Asset manager at JPMorgan, Neil Gregson, says mining companies should pursue more takeovers as escalating costs prompt them to slow spending on expansions.
Xstrata says Peru copper deliveries unaffected by protest
Posted on May 30, 2012
Xstrata Plc (XTA), the world’s fourth- largest copper producer, said its Tintaya mine in Peru is running normally after community protests that led to four deaths and prompted authorities to declare a state of emergency.
BHP must start Olympic Dam work by year-end, minister says
Posted on May 28, 2012
BHP Billiton Ltd. (BHP), the world’s biggest mining company, will lose the right to proceed with the $33 billion Olympic Dam copper-uranium expansion in Australia if it doesn’t start work by the end of the year, pressuring the board to approve the project as commodity prices decline.
Diamond-seller Choksi takes on world with Bollywood
Posted on May 22, 2012
Mehul Choksi sees his jewelry business one day joining LVMH Moet Hennessy Louis Vuitton SA (MC) and Cartier among the biggest names in luxury goods. Choksi is chairman and managing director of Gitanjali Gems Ltd. (GITG), India’s biggest diamond and gold-jewelry retailer by sales.
Xstrata $60 billion Philippine mine may stall at church door
Posted on May 16, 2012
Xstrata Plc (XTA), the world’s fourth- biggest copper producer, risks missing a 2016 target to begin extracting about $60 billion of minerals from its project in the Philippines because of opposition from the Catholic Church.
Finnish mining boom prompts regulation backlash on polluters
Posted on May 16, 2012
Finland’s mining companies stand to face tougher rules as environmental damage prompts regulators to check the Nordic nation’s mining boom.
Yanzhou Coal said in talks to buy Vale’s stake in mine
Posted on May 10, 2012
Yanzhou Coal Mining Co. (1171) is among companies in talks to buy Vale SA (VALE5)’s stake in an Australian coal mine for more than A$500 million ($503 million), said people with knowledge of the matter.
Harmony Gold may boost output by 150,000 ounces next year
Posted on May 10, 2012
Harmony Gold Mining Co. (HAR), the third- largest African miner of the metal, may boost output by 150,000 ounces in the fiscal year ending June 2013 as the company starts new projects, Chief Executive Officer Graham Briggs said.
Silver forecasters bullish as funds retreat from slump
Posted on May 9, 2012
At a time when hedge funds are reducing bullish silver bets by the most in two years, analysts predict a rally as manufacturing expands from China to the U.S., boosting demand for the precious metal most used in industry.
India’s quest for coal stalls as red tape kills mining takeovers
Posted on May 4, 2012
India’s quest for natural resources to power its growing economy and compete with China has met the enemy: Its own red tape.
Arch said to seek buyers for several U.S. coal mines
Posted on April 28, 2012
Arch Coal Inc. (ACI), the fourth-largest U.S. producer of the fuel, is seeking buyers for several of its thermal-coal mines in the U.S., which together may fetch $600 million or more, said people with knowledge of the matter.
Rusal’s $43 billion seven-year Glencore deal feeds investor feud
Posted on April 22, 2012
United Co. Rusal (486), the world’s biggest aluminum supplier, is locked in to selling $43 billion of the metal to Glencore International Plc (GLEN) over seven years in a contract that’s fueling a feud among billionaire investors, four people familiar with the …
Indonesia readies ban on unprocessed metal-ore shipments
Posted on April 18, 2012
Indonesia, Southeast Asia’s largest economy, will proceed with a plan to ban exports of unprocessed metal ores including bauxite from next month, while confirming an exemption for producers that intend to treat output locally.
Top analysts see copper rising even as China slows
Posted on April 12, 2012
The third consecutive annual copper shortage and accelerating U.S. growth will drive prices to the highest in a year in the next quarter, according to the most accurate forecasters.
Rare earth supplies in U.S. to meet defense needs, Pentagon says
Posted on April 5, 2012
Domestic rare earth supplies will meet the U.S. defense industry’s needs by 2013 for the materials that go into military motors and electronics, according to a Pentagon report sent to Congress.
China beats US with power from coal processing trapping carbon
Posted on March 31, 2012
By 2025, with 250 million more Chinese projected to be living in cities, China’s share of global carbon pollution will jump to 30.3 percent from 26.8 percent this year, the EIA says.
$10.2M settlement reached in NM coal waste lawsuit
Posted on March 30, 2012
A two-year legal battle over the disposal of millions of tons of coal combustion waste in northwestern New Mexico is on the verge of being settled with a $10.2 million agreement announced Wednesday by the Sierra Club, a BHP Billiton mining company and the state's largest electric utility.
Vale shuts railroad from world’s biggest iron ore mine
Posted on March 18, 2012
Vale SA (VALE3), Brazil’s biggest exporter, has shut a railroad that transports production from the world’s largest iron ore mine after a construction accident.
Lukoil Said to Spend $1 Billion to Open Diamond Mine Next Year
Posted on March 16, 2012
OAO Lukoil (LKOH), Russia’s largest non- state oil producer, plans to start a diamond mining project next year after investing about $1 billion in a possible challenge to OAO Alrosa (ALRS)’s monopoly, said two people familiar with the matter.
Vale, Newmont Retain Appetite for Indonesia Mines Amid Stake Cut
Posted on March 15, 2012
Global companies led by Vale SA (VALE5) and Newmont Mining Corp. (NEM) plan to invest in Indonesia’s mines, undeterred by a new rule cutting foreign ownership, as they hunt for resources in the world’s biggest exporter of tin and thermal coal.
Uralkali cutting Potash output 40%
Posted on March 14, 2012
OAO Uralkali, the world’s biggest potash producer by output, is cutting first-quarter production by about 40% from a year earlier after China and India postponed purchases and may further reduce a 2012 target.
Elemental to Raise $1.7 Billion Next Year to Mine Potash
Posted on February 20, 2012
Elemental Minerals Ltd. (ELM), owner of a potash project in the Republic of Congo, plans to raise about $1.7 billion next year to develop production by 2015, Chief Executive Officer Iain Macpherson said.
Making Sure That Valentine Diamond Isn’t Tainted by Blood: View
Posted on February 16, 2012
It being the feast of Saint Valentine, today is a favored moment to give or receive that ultimate lovers’ gift: a diamond. This year, however, isn’t a good one for those who want to know for sure that the stone’s origins are above reproach.
Chile Drought Threatens Power at Mines as Reservoirs Dwindle
Posted on February 15, 2012
Chile’s two-year drought has reduced water levels at reservoirs that supply power dams to 40 percent of capacity, threatening electricity generation for the country’s copper mines.
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