Asia Mining News

7 signs that the gold market remains resilient

Gold and silver prices ran out of momentum during the first week of July and have been drifting lower ever since.

Did oil kill the dinosaurs?

What killed the dinosaurs? It's a question as old as – well the dinosaurs themselves, and one that everyone from school children to scientists have been asking for decades.

Japan’s Komatsu is buying Joy Global for $3.7 billion

The deal, Komatsu's biggest-ever acquisition, is set to boost its clout in the mining industry.

This map shows you which countries have most of the world's gold

Most of the total gold reserves (88%) are held by only 20 countries.

Samsung rumoured to invest half-a-billion in Chinese electric car company

Samsung Electronics (KRX:005930) is looking to take the plunge into electric vehicle (EV) technology with a sizable investment into BYD Co., (HKG:1211) the world's largest electric car manufacturer.

Indian coal push hurting Indonesian exports

India's status as a major coal importer is starting to wane, and that is having a negative effect on a major supplier: Indonesia.

Chinese Gov’t official appointment to Teck Resources board raises questions

Watchdog worried about sovereignty issues in the country’s resource sector.

Coal India, Gov't unfairly snapped up lands for mine expansions — Amnesty

Coal India, which produces more than 80% of the country’s coal, plans to increase annual output to about 1 billion tonnes in the next four years.

Thermal coal price hits 10-month high as Chinese buyers snap up cargoes

A crackdown by the Chinese government on surplus thermal coal has had a knock-on effect on the price.

High grade South Korean gold projects acquired under Southern Gold’s strategic overseas expansion

A suite of high grade gold assets in South Korea, most of them historic underground or artisinal gold and silver workings, some of which extend over a large footprint, are to be acquired by Australian gold producer, Southern Gold Limited (ASX: “SAU”).

China, Russia mull setting joint gold mining fund

The new investment fund would focus on financing gold mining projects in eastern Russia.

Chinese fund eyes Glencore gold mine in Kazakhstan

China’s state-backed Silk Road Fund is said to be considering a joint $2 billion bid with China National Gold Group for the Vasilkovskoye mine.

Gold hits fresh two-year high as UBS declares the start of new bull run

Analysts say the metal likely to reach $1,400 shortly and settle in the second half of this year, averaging $1,340 an ounce.

Rio Tinto sells its Blair Athol coal mine for less than a bus ticket

The Blair Athol mine, closed in 2012, would be the second Australian coal asset in a year to be sold for just A$1.

Global mining equipment market to reach $156 billion by 2022 — report

Product launch and acquisition are the key growth strategies adopted by the leading market players, such as Caterpillar and Komatsu, to strengthen their foothold in the market.

Australia’s uranium polluting the Antarctic — scientists

Australia has about 40% of the world's uranium reserves and exports nearly 7,000 tonnes of yellow cake annually.

Rio Tinto exits PNG, gives away copper-gold mine with $51bn in reserves

Decision follows a company review of the asset that was triggered by the Bouganville government’s pressure to restart mining at Panguna or give it up.

Newmont selling Indonesian unit for $1.3 billion

With the sale, Newmont is offloading its Batu Hijau mine, Indonesia’s the second-biggest copper and gold operation.

Cautiously optimistic about nickel price

Nickel's jumped back above $9,000 and the outlook is for steady price increases through 2019 despite possible lifting of Indonesian export ban – report.

India miners rally as cabinet approves mineral exploration rules

Delhi wants to open up mining of gems and precious metals and cut reliance on imports.

Morgan Stanley: Iron ore will drop to $35 by fall

Iron ore advanced to a 5-week high of $53.40 on Tuesday, but analysts see steep decline in the final quarter of 2016.

Potash price surge could lead to higher food costs for billions

We are on the precipice of a food fight among 7 billion people, and potash will be right at the center of it.

Canada oil sands output to grow 1 million barrels daily by 2025

The 42%-growth to 3.4 million barrels per day by 2025 will come from the expansion of existing facilities rather than new projects, IHS says.

Kyrgyz authorities hand Centerra Gold final permit to keep Kumtor mine running

Kumtor mine is the country's largest private sector employer and taxpayer and Centerra’s main gold producing mine.

BHP hikes exploration spending, to focus mostly on copper, oil

It will raise its annual exploration spending by 29%, allocating nearly all its $900 million budget to finding new copper and oil deposits in the fiscal year beginning next month.