Asia

Chinese miners keep digging for iron ore despite most losing money

Cecilia Jamasmie | March 27, 2015
Chinese miners keep digging for iron ore despite most losing money

The situation, industry officials said Friday, can’t continue for much longer.

Scepticism grows over North Korea’s massive rare earth discovery

Cecilia Jamasmie | March 27, 2015
Scepticism grows over North Korea’s massive rare earth discovery

Experts are raising questions about the legitimacy of North Korea's estimated reserves of rare earths, used from computers to cars and defense missiles.

Glencore shutting down its West Wallsend coal mine in Australia

Cecilia Jamasmie | March 26, 2015
Glencore shutting down its West Wallsend coal mine in Australia

The firm said poor coal prices meant it would not make sense to extend the life of the mine.

JX, Mitsui Mining halt Caserones mine, to take a $421M write down

Cecilia Jamasmie | March 26, 2015
JX, Mitsui Mining halt Caserones mine, to take a $421M write down

The company said the suspension of operation at the copper is momentary, as northern Chile is being hit by torrential rain and snow.

Frik Els

Mining private equity: It's Davis or bust?

Frik Els | March 25, 2015
Mining private equity: It's Davis or bust?

Until Mick Davis pulls the trigger on X2's $5.6 billion, wishful thinking and unhealthy skepticism will pervade talk around private equity and mining.

Australia's regulator goes after Fortescue for demanding iron ore output cap

Cecilia Jamasmie | March 25, 2015
Australia's regulator goes after Fortescue for demanding iron ore output cap

The competition watchdog did not welcome chairman Andrew “Twiggy” Forrest call for rivals Rio, BHP and Vale to agree to cap production.

Cecilia Jamasmie

Belaruskali deal with China dents other players’ chances

Cecilia Jamasmie | March 24, 2015
Belaruskali deal with China dents other players’ chances

The move may be the first of many more competitive deals by producers in the potash market, which has historically operated with large joint ventures controlling prices.

Freeport axes dividend by 84% amid weak commodity prices

Cecilia Jamasmie | March 24, 2015
Freeport axes dividend by 84% amid weak commodity prices

The copper and gold miner will pay a dividend of 5 cents.

Cliffs sells Ontario’s Ring of Fire claims to Noront for $20 million

Cecilia Jamasmie | March 23, 2015
Cliffs sells Ontario’s Ring of Fire claims to Noront for $20M

The U.S. miner said the sale is part of a strategy to divest non-core assets and focus on supplying iron ore pellets to the North American steel industry.

Coal projects, port expansion could permanently damage Great Barrier Reef: report

Andrew Topf | March 22, 2015
Queensland wants coal waste to be dumped onshore, not near reef

The Great Barrier Reef is at risk of permanent damage should huge coalmining and a port development in Queensland go ahead, scientists say in a new report.

Indian gold smuggling soars

MINING.com Editor | March 20, 2015
India is hoarding Switzerland’s gold, silver

Gold has not surprisingly found a back door into India, despite import restrictions on the yellow metal that were only recently lifted.

China claims coal mine deaths down to record low

Cecilia Jamasmie | March 20, 2015
China claims coal mine deaths down to record low

Coal mine fatalities in China dropped almost 87% to 931 last year from more than 7,000 casualties registered in the sector in 2002, according to official figures recently disclosed.

Copper up, FCX down as workers halt production at Grasberg

MINING.com Editor | March 20, 2015
Copper soars after Freeport McMoRan declares force majeure on Grasberg mine

The copper price recovered from a one-month low on Wednesday to gain 3% on Thursday, as the metal markets reacted to a dovish Fed statement and news out of Indonesia that production has stopped at the Grasberg mine.

Caterpillar Feb. sales down 11%

Cecilia Jamasmie | March 19, 2015
Caterpillar Feb. sales down 11%

The company experienced a annual drop in the resource industries segment sales in every geographic region except Asia/Pacific.

Chile imposes 2nd highest fine in history to Pan Pacific Caserones mine

Cecilia Jamasmie | March 19, 2015
Chile imposes 2nd highest fine in history to Pan Pacific Caserones mine

Japan's top smelter, Pan Pacific Copper, will have to pay $11.9 million for breaching several environmental rules.

Gold price to double by 2030 thanks to Asia: report

Cecilia Jamasmie | March 18, 2015
Gold price to double by 2030 thanks to Asia: report

ANZ predicts that as incomes rise across Asia, particularly in China and India, so will the appetite for gold rings and necklaces.

No end in sight for mining sector gloomy state: report

Cecilia Jamasmie | March 18, 2015
No end in sight for mining sector gloomy state: report

The first two months of 2015 failed miserably to dispel gloomy market conditions affecting the global mining industry, according to a study published Wednesday.

Asian miners transition towards digital mining

Timetric | March 18, 2015
Gold price just short of $1,200 as 'cautious optimism' returns

According to Timetric’s Mining Intelligence Center (MIC), Asian mines are transitioning towards digital mining, as demonstrated by continuing investment in design software and mine surveying.

Iron ore mining in Goa may resume in two months

Cecilia Jamasmie | March 18, 2015
Iron ore mining in Goa may resume in two months

The move comes amid an ongoing collapse in commodity prices.

How top gold producers margins are being squeezed

Vladimir Basov | March 17, 2015
How top gold producers margins are being squeezed

In 2014, nine out of top 10 gold producers achieved significant reductions in all-in sustaining production costs, but average cash margin fell victim to bearish gold price.

Potash producers rejoice — China likely to pay more for it this year

Cecilia Jamasmie | March 17, 2015
Potash producers rejoice — China likely to pay more for it this year

According to analysts from Credit Suisse, Chinese importers will settle at $320 a tonne, versus $305 a tonne they paid last year.

World's biggest diamond producers and trade leaders to shine in Dubai

Dubai Diamond Exchange (DDE) | March 16, 2015
DDE

Executives from De Beers Group, Alrosa and Endiama to reveal how the New Silk Route from China across Africa to Dubai has transformed the global diamond trade.

Afghanistan and Kazakhstan may become new global centres of rare earth metals’ production

investorINTEL | March 16, 2015

According to recent statements of some U.S. and Russian scientists.

China builds nuclear reactors in earthquake-prone Pakistan, in defiance of international ban

MINING.com Editor | March 15, 2015

Pressing ahead.

North Korea digging ever deeper to keep its economy afloat

The Guardian | March 12, 2015
Largest known rare earth deposit discovered in North Korea

The sharp fall in global commodity prices is starting to have an impact on North Korea, economists say, hurting a state that relies heavily on exports of minerals to keep its economy afloat – and its gargantuan military funded.

Dire Chinese steel outlook drops iron ore price to 7-year low

Frik Els | March 11, 2015
Dire Chinese steel outlook drops iron ore price to new low

Down 1.4% Wednesday to lowest since 2007 on Chinese forecast of peak steel production and contraction.

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