Some analysts claim that the cross rate between the euro and the yen affects the price of gold (the term “cross” meaning here that the quote does not involve the U.S. dollar). Are they right? Let’s see the chart below and check it out.
Asia Mining News
Fresh bid is far better than the $2.55bn it offered earlier this month and considerably more than the $2.45bn offered by Yancoal, the Chinese-backed miner that is Rio’s preferred buyer.
Company says Grasberg copper mine is running as normal
Thousands of mine workers at the Indonesian unit of Freeport-McMoRan Inc will extend their strike for another month to protest against layoffs, a union official said on Wednesday.
Coal India, responsible for about 82% of the nation's total coal output, said the closures would save around 8 billion rupees ($124 million).
Toro Energy's Wiluna project, Vimy Resources' Mulga Rock project, as well as Cameco's Kintyre and Yeelirrie projects allowed to go on.
The acquisition would make of Yancoal Australia’s largest pure-play coal producer.
Mongolia’s renewed efforts to attract foreign investment it’s bearing its first fruits.
With the completion of the Japanese firm acquisition of 30% of Côté Gold Project, IAMGOLD's liquidity now exceeds $1 billion.
It’s a buyer’s market—if you know what you’re looking for.
More supply will likely drag prices lower, as the metal already touched a one-year low of $8,680 per tonne on the London Metal Exchange last week and is down more than 10% this year.
A consortium of companies including Korean steel juggernaut POSCO has made a bid for Arrium, a major Australian iron ore miner and steelmaker.
It sold $54.8 million worth of rubies, a record high for any Gemfields auction and a 24% increase in revenue from the previous record.
China, the world's largest energy consumer, burned the least coal in six years.
Chinese-owned Yancoal has signalled it may raise its bid for Rio Tinto's Hunter Valley coal assets, after striking the agreement with Mitsubishi to buy its stakes in the same mines.
Is the bad and the ugly over and the good returning to the mining industry? PwC seems to think so.
India and Kazakhstan have discussed ways to expand their ties as Prime Minister Narendra Modi held a bilateral meeting with Kazakh president Nursultan Nazarbayev in Astana.
Coal shipments from North Korea to China fell from 1.4 million tonnes, worth $126 million, in January to zero in April.
Iron ore's transformation from a relic of the industrial age to the driving force behind a commodity supercycle that reshaped the global economy.
Maps shape our understanding of the world – and in an increasingly interconnected and global economy, this geographic knowledge is more important than ever.
Despite opposition from organizations ranging from the United Nations to green groups and locals, work on the multibillion-dollar mine is expected to begin by September.
The deal comes as Sumitomo, Japan’s top gold miner, looks to boost its output through acquisitions and exploration.
Top Chinese gold producer Shandong Mining will have to arrange financing before unlocking its half of the Veladero mine in Argentina.
Power from solar panels now half the cost of a new coal plant
Metallurgical coal miners could be exposed to more pricing volatility if a move afoot to do away with quarterly pricing comes to anything.