Asia Mining News

EUR/JPY exchange rate and gold

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.

Glencore fights back, sweetens deal for Rio Tinto’s Australian coal assets

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.

Freeport Indonesia says giant copper mine running as normal despite strike

Company says Grasberg copper mine is running as normal

Freeport Indonesia workers to extend strike for a month – union

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.

World’s top coal producer to close 37 mines

Coal India, responsible for about 82% of the nation's total coal output, said the closures would save around 8 billion rupees ($124 million).

Western Australia bans uranium mining, but existing projects safe

Toro Energy's Wiluna project, Vimy Resources' Mulga Rock project, as well as Cameco's Kintyre and Yeelirrie projects allowed to go on.

Yancoal trumps Glencore bid for Rio Tinto’s coal mines

The acquisition would make of Yancoal Australia’s largest pure-play coal producer.

Rio Tinto in search of next Oyu Tolgoi in Mongolia

Mongolia’s renewed efforts to attract foreign investment it’s bearing its first fruits.

Japan’s Sumitomo Metal becomes IAMGOLD partner in Canadian project

With the completion of the Japanese firm acquisition of 30% of Côté Gold Project, IAMGOLD's liquidity now exceeds $1 billion.

Small-cap mining stocks, big-time opportunity

It’s a buyer’s market—if you know what you’re looking for.

Nickel production to grow for first time since 2013 — report

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.

Korean consortium bids for Australian iron-ore giant Arrium

A consortium of companies including Korean steel juggernaut POSCO has made a bid for Arrium, a major Australian iron ore miner and steelmaker.

Gemfields beats own ruby sales record at Singapore auction

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.

World coal production falls off a cliff

China, the world's largest energy consumer, burned the least coal in six years.

Yancoal grabs Mitsubishi stakes in Rio Tinto's coal mines in $940m deal

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.

Top 40 miners returned to profit in 2016: PwC

Is the bad and the ugly over and the good returning to the mining industry? PwC seems to think so.

India hails Kazakhstan's role as 'number one' supplier of uranium

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.

North Korea coal exports down to zero on China ban, UN cap

Coal shipments from North Korea to China fell from 1.4 million tonnes, worth $126 million, in January to zero in April.

SLIDESHOW: The iron ore price wars 2002–2017

Iron ore's transformation from a relic of the industrial age to the driving force behind a commodity supercycle that reshaped the global economy.

The problem with our maps

Maps shape our understanding of the world – and in an increasingly interconnected and global economy, this geographic knowledge is more important than ever.

Adani to go ahead with polemic Carmichael coal mine after all

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.

IAMGOLD sells stake in Ontario gold project to Sumitomo for $195 million

The deal comes as Sumitomo, Japan’s top gold miner, looks to boost its output through acquisitions and exploration.

Shandong to borrow $1.26B to buy half of Argentinian gold mine

Top Chinese gold producer Shandong Mining will have to arrange financing before unlocking its half of the Veladero mine in Argentina.

Cheaper solar in India prompts rethink for coal projects

Power from solar panels now half the cost of a new coal plant

Is coking coal pricing moving away from quarterly benchmarks?

Metallurgical coal miners could be exposed to more pricing volatility if a move afoot to do away with quarterly pricing comes to anything.