Asia Mining News

Asia Gold-Price dip props up demand, India buyers await lower prices

Gold demand in most Asian centres firmed this week, spurred on by a dip in prices although buyers in the world's second-biggest consumer India held off buying in the hope of further falls.

Indonesia, Freeport said to near new deal for Grasberg mine

Under the new deal, Inalum will seek to acquire London-based Rio Tinto Group’s joint venture interest in Grasberg by March.

Indian captive power plants running at half capacity due to coal shortage

The Indian Captive Power Producers Association denounced that most of its member companies are getting half of the coal they need from state-owned Coal India.

Kazakhstan’s largest iron ore company now has a smart mine

With a $10 million investment, the Kacharsky mine is being transformed into a smart mine.

What to expect for gold in 2018

John Reade, Chief Market Strategist at the World Gold Council, explains several reasons to believe that gold could maintain an upward trajectory.

World Bank to stop funding oil and gas projects

The institution will stop all lending for oil and gas projects after 2019, with some exceptions.

ArcelorMittal coal miners widen strike in Kazakhstan

A sit-in by miners of ArcelorMittal's Kazakh unit widened to all of the firm's coal mines on Tuesday as hundreds of workers demanded a 100 percent wage rise.

World's biggest floating solar power plant starts operating atop former coal mine

China Three Gorges says this would be not only the largest but also the "most intelligent solar power project with the most advanced technology in the world."

Mongolian Gov’t can’t nationalize Erdenet Copper Mine — court

Erdenet, which produces 530,000 tons of ore annually, is one of Asia’s biggest copper and molybdenum mines and a top tax contributor to the country’s $12 billion economy.

India trade ministry seeks lower tax on diamond miners

The commerce department has sought to scrap levies and introduce a presumptive tax of 0.25 percent on diamond mining companies.

Asia Gold-Price dip gives small spark to demand; India buyers unmoved

Demand for physical gold picked up in most Asian centres this week as prices fell, but drop in local rates to four-month lows failed to lure buyers in India.

Indonesia's Freeport-Rio plan masks longer-term issues: Russell

Proposed three-way deal between the Indonesian government, Rio Tinto and Freeport to clean up ownership of Grasberg 'ignores the wider picture'.

Massive Oyu Tolgoi mine to more than double gold production in 2018

Rio Tinto-controlled Turquoise Hill is also predicting costs to fall about 2.8%.

This is the breakthrough company of Mines & Money 2017

Forget gold, the crazy cobalt price or lithium frenzy; this junior mining company is upending the sapphire (yes sapphire) market.

Copper's art of the deal

The seeds of Tuesday's 4.6 percent copper slump -- the sharpest in almost three years -- were planted in a scarcely noted non-event earlier this month.

Indonesia to grab Rio Tinto stake in Grasberg mine

After pumping billions into the Indonesian mine for almost 25 years, Rio might be able to see a decent return as the country’s government plans to acquire the miner’s 40% stake in the coveted operation.

Kazakh supply shock to jolt uranium price

World's top supplier of uranium announces 20% cut in production over three years.

Coal India November output, shipments rise to highest for month

Coal India Ltd.’s production and shipments in Nov. rose to most for month in at least five years, as power plants procured more coal to boost inventories.

SMB plans Guinea alumina refinery by 2022

Guinea has about a third of the world's bauxite reserves and expects to produce over 30 million tonnes in 2017. However, it has no facilities to transform those reserves into higher-grade alumina.

Asia Gold-Demand steady as buyers await bigger dips, riskier investments beckon

Benchmark spot gold edged higher to around $1,277 an ounce Friday, but was still trading near a 3-1/2-week low touched Thursday amid surge in U.S. equities.

Battery production more than a Tesla nightmare

Ron Struthers of Struthers Resource Stock Report surveys the battery metals field and profiles one company he believes could be a new LIB anode supplier.

Australia’s NSW to ban open-pit mining in South Drayton area

The New South Wales Government decided there would be no open-pit mining at the site formerly known as Drayton South, but it paved the way for an underground mine instead.

Move over, Tesla! China holds the keys to electric vehicles

As the world’s largest auto market, China was responsible for about half of the sales as the crackdown on polluting industries has propelled renewable alternatives from power generation to consumer products.

Pink diamond gets $32 million, Patek sets Asian record

The oval stone, set in a ring embellished with smaller diamonds, sold after a three-minute contest. It was estimated to sell for as much as $42 million.

Indonesia expects 2018 deal with Freeport on giant copper mine

Indonesia expects to conclude deal with Freeport-McMoRan Inc. by February that will see the U.S. miner shed its majority ownership of Grasberg mine.