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Xstrata relies on China to lift copper demand
Copper demand in China, the world's main consumer of the red metal, is expected to rebound in the second half of 2012, despite the uncertain outlook for Europe, the head of Xstrata PLC's copper division said.
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Diamond-seller Choksi takes on world with Bollywood
Bloomberg | May 22, 2012Mehul Choksi sees his jewelry business one day joining LVMH Moet Hennessy Louis Vuitton SA (MC) and Cartier among the biggest names in luxury goods. Choksi is chairman and managing director of Gitanjali Gems Ltd. (GITG), India’s biggest diamond and gold-jewelry retailer by sales.
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Global aluminum market to reach $112.3 billion this year: report
MINING.com Editor | May 22, 2012The value of the global aluminum market will reach $112.3 billion this year according to a new study published by Netherlands-based research company ADSReports.
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Rio Tinto sells aluminum business for $185 million
Cecilia Jamasmie | May 22, 2012
In what it seems a move towards exiting the aluminum wire business, diversified miner Rio Tinto (LON & NYSE:RIO) announced it is selling its U.S.-based wire and cable business Alcan Cable to American company General Cable (NYSE: BGC) for $185 million.
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China may surpass India as biggest gold market, WGC says
Pakistan Today | May 20, 2012
Gold demand in China may surge as much as 30 percent this year as rising incomes boost consumption, helping the country topple as the world's largest bullion market on an annual basis, according to the World Gold Council.
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Tata Steel forecasts improved demand amid European woes
China Post | May 20, 2012India's Tata Steel forecast improving global demand in spite of European woes, as the world's No.7 steelmaker reported a bigger-than-expected drop in quarterly profit after being squeezed by weak prices, lower volume and higher input costs.
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Throwing BRICS into the fire of gold and silver investment demand
Market Oracle | May 20, 2012Despite ongoing pressure from the United States for China to join its sanctions against Iran due to concerns over the Islamic country’s nuclear program, an Iranian diplomat recently revealed that new energy trades between Iran and China will be settled in China’s official currency the yuan.
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Al Rajhi eyes RM100m in gold sales
Business Times Malaysia | May 20, 2012AL Rajhi Bank Malaysia, which introduced its gold investment product last year, is targeting sales of close to RM100 million worth of gold this year.
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China's rare earth quotas are a joke. 74% of oxides never left port this year
Frik Els | May 18, 2012
Chinese authorities added 10,680 tonnes to the country's export allowance this week but it is something of a meaningless exercise because during the first quarter China only exported 26.3% of the initial quota.
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India the next China? Don't bet on it, says BHP
Andrew Topf | May 18, 2012
Michael Pascoe, writing for the Sydney Morning Herald, hits on a little-reported theme gleaned from remarks by BHP Billiton chairman Jac Nasser this week in Sydney.
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China is developing a grid better for coal than renewables: report
Cecilia Jamasmie | May 18, 2012
China won’t meet its carbon and energy intensity targets unless dramatic changes to its electricity grid are applied, says a study by U.S.-based Energy Transition Research Institute.
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Mining industry plans to invest $20 billion in renewable energy by 2020, forecasts Pike Research
Business Wire Natural Resources News | May 18, 2012
According to a new report from Pike Research, worldwide investment by the mining industry on renewable energy and energy conservation will reach approximately $8.4 billion by 2016 and nearly $20 billion by 2020.
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Crated and buried Spitfires cause business split
Michael Allan McCrae | May 17, 2012
Two business partners have fallen out over attempts to dig up about 60 pristine Spitfires that were put in storage and buried in Myanmar after World War II. Each is worth an estimated $2 million.
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Xstrata $60 billion Philippine mine may stall at church door
Bloomberg | May 16, 2012Xstrata Plc (XTA), the world’s fourth- biggest copper producer, risks missing a 2016 target to begin extracting about $60 billion of minerals from its project in the Philippines because of opposition from the Catholic Church.
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BHP Billiton puts its money on the iron ore market and China
Cecilia Jamasmie | May 15, 2012
BHP Billiton Ltd. (NYSE:BHP) is betting on the iron ore market as one of the forces to drive the mining industry in the next decade, especially as developing nations such as China move from investment-led economic growth to consumption-led economic growth.
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Chinese steel giant invests heavily in Quebec iron ore property
Canadian Mining Journal : Headline News | May 15, 2012Toronto to Shanghai is a long haul, even in the age of intercontinental air travel, and Allen Palmiere can attest to that because he’s made the 23-hour trip more than 20 times since taking over Adriana Resources Inc. of Toronto in June 2009.
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China's stricter emission rules lift palladium demand
Reuters | May 15, 2012China's autocatalyst palladium demand in 2011 rose 11 percent, outpacing single-digit growth in car sales as stricter emission regulations forced carmakers to use more platinum group metals, refiner Johnson Matthey said on Monday.
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NMDC mines affected over Naxal attack
Business Standard | May 15, 2012Production in the Kirandul mines of the National Mineral Development Corporation (NMDC) in Dantewada district of Chhattisgarh was affected Monday following Naxal attack that killed six Central Industrial Security Force (CISF) jawans on Sunday night.
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CIL, Limpopo government ink pact to develop coal mines in South Africa
The Economic Times | May 14, 2012The government today said Coal India (CIL) has signed a pact with government of Limpopo, South Africa for jointly identifying, exploring and developing coal mines.
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India plagued by problems acquiring foreign mines
Andrew Topf | May 14, 2012
India is not China when it comes to successful acquisitions of foreign mining companies, reports the Wall Street Journal.
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Uncertain coal supplies in India drive Power Ministry to seek Prime Minister’s intervention
The Hindu | May 14, 2012With no end in sight to the continuing tussle between state-run Cola India Limited (CIL) and the power producers over the fuel supply issues, the Power Ministry has petitioned the Prime Minister’s Office (PMO) to intervene and settle the issue pertaining to signing of new Fuel Supply Agreements (FSAs) and some controversial clauses in it.
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Anglo Asian gets the green light to build second gold mine in Azerbaijan
Cecilia Jamasmie | May 14, 2012
Anglo Asian (LON:AAZ) shares were up 3% to 35 pence this morning on news that the government of Azerbaijan has approved the development of the group's second gold mine in the country, Gosha.
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Australian coal miners fail trying to reopen Ebenezer mine
MINING.com Editor | May 14, 2012Australian protestors fighting the reopening of the Queensland Ebenezer mine by Zedemar Holdings, are considering an appeal after the Supreme Court dismissed their claims.
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Gold takes it on the chin…what's next?
Frank Holmes - U.S. Global Investors | May 13, 2012
There was a strong reaction last week to the elevated debt crisis in Europe, with commodities and equities being indiscriminately sold. Gold fell 3 percent this week, losing its safe haven status as the dollar grew stronger and the 10-year government note headed lower.
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Chart of the week: where global industrial production is coming from
Frank Holmes - U.S. Global Investors | May 13, 2012
Many have compared today’s economic recovery to the slow, stagnant growth Americans lived through in the 1970s.
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Indonesian Ni Ore export tax levied 20pct
Steel Guru | May 13, 2012The Indonesian government enforced an export tax system effective May 6th 2012 in which 20% export tax is levied on 14 mineral products of Indonesian origin including nickel ore. As a result Japan and China, two major importers of the nickel ore from…
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