Asia Mining News

Freeport’s Grasberg jujitsu move will pay off

There’s a well-thumbed playbook for how deals involving gold mines in the remote jungles of Indonesia are meant to turn out.

Rio Tinto about to offload stake in Grasberg mine for $3.5 billion

Company confirmed is in talks to sell its stake in the world’s second largest copper mine to Indonesia’s Inalum.

Why rough diamond prices are at a 52-week high

Forecasted industry fundamentals point to an environment favoring higher diamond prices over a period of at least the next four years.

Taliban, Islamic State make millions from mining Afghan minerals

The international NGO in a report on Tuesday estimates the Taliban earns $2.5 million to $10 million a year from mining talc alone.

Rio Tinto says investors to take stance on Oyu Tolgoi as ‘test case’

Rio Tinto has called for less interference at its giant copper and gold mine in Mongolia, as it moves forward with an underground expansion.

Forevermark unveils new retail concept store in China focused on millennials

Libert’aime by Forevermark offers a diamond jewellery range that has been designed with a young, fashion-forward self-purchasing consumer in mind.

Electric vehicle rush fuels optimism at LME Asia Week

Chinese cobalt producers such as Jinchuan Group and Wanbao Mining said they were ramping up production to sate an anticipated demand boom from EVs.

Vedanta says Indian copper smelter shutdown causing deficit, price rise

The unit has been shut for more than 50 days.

ABB to help double production capacity for copper concentrator in Kazakhstan

ABB AbilityTM MineOptimize provides integrated process and power control and serves as the digital foundation for new production line.

Global consumer demand for diamond jewellery hits new record high of US$82 billion

An increase in self-purchase of diamond jewellery helped drive demand, representing 33% of total US diamond jewellery pieces acquired in 2017.

Centerra gets $200 million for royalty portfolio and Kemess silver stream

The miner is receiving an upfront cash payment of $155 million for AuRico Metals’ royalty portfolio and about $45 million payable in four tranches for Kemess's silver output.

Historic blue diamond auction exceeds expectations — sold for $6.7 million

The Farnese Blue diamond, which was passed down through European royal families for about 300 years, sold Tuesday for $1.4 million more than the maximum figure experts estimated it would fetch.

Rio Tinto says climbing costs, resource nationalism once again big threats

Chief executive Jean Sebastien-Jacques said the challenge for the industry is to ensure the benefits from the past frugal years are not lost against a backdrop of rising oil prices and increased political risk.

Supercycle may be setting up for higher commodity demand

Conditions may be in place for increased demand and increased prices for a number of commodities including natural gas, copper, aluminum, and gold.

How to trust the expansion of uranium mining in India

The big picture of power availability in India stresses the importance of urgent action.

India's thermal coal imports rise over 15 pct in Q1 – trader

India's rising coal imports are contributing to higher demand across Asia this year.

Chile’s Caserones copper mine a pain in the neck for Japanese owners

The mine, behind schedule ever since it began producing in May 2014, has been affected by a series of technical problems in its ramp-up phase, costing its owners hefty impairment charges.

Legal fight, delays force Adani writedowns on Carmichael coal mine

The writedowns are said to stem from Adani being forced to duplicate studies and redesign elements of the Carmichael project due to delays in regulatory approvals and ongoing legal challenges.

U.S. producers hurt by Chinese steel wheel imports – trade panel

The alleged dumping margins ranged from 12.1 percent to 231.7 percent, and U.S. imports of the products from China in 2017 were estimated to total $388 million.

Asia coal industry sees blue skies, ignores storm clouds: Russell

While there may be scope to be bullish on the short- to medium-term outlook for coal, the risk factors for the industry appear to be mounting.

Erdene soars as Altan Nar project in Mongolia proves larger than predicted

Indicated and inferred gold equivalent resources increased by whooping 208% and 172% respectively, when compared to the project’s maiden mineral resource estimate of 2015.

N. American gold ETF inflows at highest since September 2017 -WGC

North American gold-backed ETFs rose 43.7 tonnes worth $1.9 billion in April.

The DJIA, gold industry, & gold equities

Gold orientated discovery company, Westhaven Ventures, is currently drilling a potentially high grade epithermal gold target in an underexplored gold belt.

Gold to remain influenced by political uncertainties and geopolitical risk around the world

Political uncertainty, including Brexit negotiations, along with ongoing tensions in the Middle East will remain gold’s key drivers.

Indonesia grants tin export permits to 12 companies including PT Timah

The country's biggest tin miner PT Timah Tbk received a permit to ship 32,305 tonnes.