He has also insured 280 employees who have been with the company for more than a decade to the tune of $160,000 each.
Beijing has launched a five-month campaign that aims to finally crackdown on illegal extraction and smuggling of the coveted elements.
Announcement comes as Polish authorities work on a plan to group its loss-making mines into a “bad” or a “good” unit.
The country is fine-tuning details of a new mining law that will make it easier for foreigners to tap the nation’s riches.
Indonesia cannot build power stations fast enough. And neither can most of its Asian neighbours.
The agreement signed with Indonesia’s outgoing government also means higher royalties to be paid by the firm.
The LME says its electronic solution for the platinum and palladium price — LMEbullion — could benefit gold bugs.
The miner said the move was driven by its revised pricing outlook and adverse market conditions.
New research shows inland Chinese steel mills pay a 35% premium over seaborne benchmark with 210mt of steel capacity potentially looking for alternatives.
The former Xstrata boss' new venture, X2 Resources, is "currently reviewing a number of opportunities in the metals and mining sector."
Despite iron ore prices touching rock bottom, the top three producers have no plans to slowdown production. Quite the contrary.
Vancouver-based Turquoise Hill blames "delayed mine advancement" at massive Mongolian property.
The injunction was sought by Stans Energy.
Is there any hope on the horizon for the gold funds?
JSW Steel has almost clinched a deal that would see India's third-largest steel company acquire embattled London Mining (LON:LOND), sources close to the negotiations revealed on Friday.
The sudden reversion to protectionism is designed to save the local coal industry.
It has set a world auction record on a per-carat basis for a gem of this colour.
The commodities trader and miner explored a stock-exchange listing Down Under.
Anglo's chief warned the company plans to take severe measures over the next two years.
It’s good to be Ivan Glasenberg’s neighbour.
The EU new plan changes how refiners label the carbon intensity of their fuel.
The state government submitted an application to the federal government for 3mn m³ of dredging material to be disposed on land.
Nickel is present in over 3000 different alloys that are used in over 300,000 products for consumer, industrial, military, transport/aerospace, marine and architectural applications.
Mining giant Rio Tinto will face protests around the world on Oct. 7, in a coordinated day of defiance by thousands of its employees.
The country continues to battle chronic power shortages that are crippling its growth.
The underground portion of the Oyu Tolgoi copper-gold complex is no closer to fruition, after the parties behind the US$5 billion operation let a Sept. 30 financing deadline lapse without applying for an extension.
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