international business times

India's Supreme Court clears way for Posco to build $12bn iron ore mining plant

High court sets aside lower court decisions for South Korean miner.

Newcrest Mining cuts gold production forecast

Newcrest Mining, the world's No.3 gold miner, on Tuesday cut its production forecast for this year, saying its major projects had struggled to reach output targets.

Two Miners Killed in South Africa's Modikwa Platinum Mine: Union

Two miners died at South Africa's Modikwa Platinum underground mine after a cave-in, bringing the number of workers killed at mines in the country this year to more than 10, the National Union of Mineworkers said Saturday.

20 feet prehistoric crocodile found in Columbian Coal Mine

The remains of a previously-undiscovered prehistoric crocodile measuring 20 feet long has been discovered by U.S. researchers in a Columbian coal mine. The creature, known as Acherontisuchus guajiraensis, is believed to have lived around 60m years ago

Freeport-McMoRan Copper and Gold still running strike-bound Cerro Verde Mine

Freeport-McMoRan Copper & Gold Inc said supervisory staff and volunteers are operating its Cerro Verde mine in Peru and production has not been hurt by a strike. "Production of copper and molybdenum concentrates have not been materially affected by the

Gold miners outshine copper miners

There was some upbeat talk about new projects in Mozambique and Mongolia, but reporters and investors homed in on CEO Tom Albanese's comment that "markets are somewhat weaker than they were 6 months ago."

Freeport McMoRan's Indonesian workers returning to work

More than a thousand workers have returned to Freeport McMoRan Copper & Gold's strike-hit Indonesia mine, the company said on Monday, leading the union to say some production has restarted at the world's third-biggest copper mine.

Newmont Mining, Indonesian Union in talks over protest

Newmont Mining Corp.'s Indonesian unit said on Monday it is in talks with a worker union and local government to solve a protest that blocked access to its copper and gold mine last week.

How to choose junior gold stocks

The parabolic rise in central bank and investment demand is driving the Gold Bull Market and it will likely continue well into 2013 and could push the Gold price to 3000 oz and higher.

Silvercorp Metals in share buyback

Silvercorp Metals Inc., a Vancouver-based mining company, said Wednesday it purchased 2,027,167 of its common shares at an average price of $8.112 (Canadian).

Physical demand, investor uncertainty lift gold

Gold edged higher on Tuesday, following its worst weekly performance in two months last week, supported by improving physical demand and some investor uncertainty ahead of minutes from the U.S. Federal Reserve's recent policy meeting.

Coal sector questions Grattan’s findings on carbon tax impact

The Australian Coal Association (ACA) today questioned the results of the Grattan Institute research on the impact of the proposed carbon tax on the coal, LNG and steel industries.

Fortuna Silver Mines Seeks NYSE Listing

Fortuna Silver Mines Inc., which is traded on the Toronto Stock Exchange, has applied for a listing on the New York Stock Exchange, the Vancouver-based company said Monday.

Guinea and China in talks over bauxite mine, alumina refinery

Guinea is in advanced talks with state-owned China Power Investment to develop a bauxite mine and build an alumina refinery, deep water port and a power plant in the West African state, Guinean government sources said.

Analysis: Investor frostiness to palladium will thaw

The darkening economic outlook this month has sent investors out of the palladium market in droves, but the coming months of uncertainty are likely to be more of a cooling-off period than an end to their romance with last year's star performer.

ECB gold reserves unchanged at 363 billion euros in week

Gold and gold receivables held by euro zone central banks remained unchanged at 363.25 billion euros in the week ending Aug. 12, the European Central Bank said on Tuesday.

Silver Technical Precious Metals (2011-07-22)

The negative pressures continue, while RSI is presently breaching the value of 50.00 downwards. Areas between 40.40 and 40.20 have proved its solidity.

China's Hanlong makes $1.5 billion bid for Sundance

China's Sichuan Hanlong Group made a bid to buy out the shares it doesn't already own in West African iron ore exploration company Sundance Resources, valuing the private conglomerate at A$1.4 billion ($1.5 billion). Last week, Hanlong, which is seeking to expand its reach in global resources, launched a A$144 million takeover bid for Bannerman Resources, which is looking for uranium in Namibia.

Commodities soar as Chinese data show pleasant surprise

Market sentiment buoyed as Chinese macroeconomic data surprised to the upside, temporarily overshadowing ongoing debt problems in the Eurozone. Oil prices climbed with the front-month contract for WTI crude oil rising to 97.96 and the equivalent Brent

Silver Technical Precious Metals (2011-07-11)

The metal is threatening 36.75 levels without achieving a four hour closing above them. Stochastic is showing tendency to form a negative divergence with a bearish overlapping sign occurred with the opening of today's trading. Coming beneath 36.35 may

Top commodities funds take fresh beating in June

Another fund with major commodities exposure, New York-based Ospraie with about $2 billion under management, lost 3.1 percent last month but was up 1.7 percent in the year through June, fund data obtained by Reuters showed.