Asia Mining News

A worry for Caterpillar: plunging Chinese excavator sales

Caterpillar has gotten a lot of juice out of overseas sales, and China’s been a growing market for the company. So anything undermining that is a concern for investors.

'Chinese imports of gold can only be described as massive right now': Von Greyz

Egon von Greyerz told King World News that gold imports in China have ramped up considerably due to concerns about the world economy. Von Greyerz, managing director of Matterhorn Asset Management AG, says that worries about […]

Molycorp's rare earth reserves jump 36%

U.S.-based Molycorp, Inc., one of the only non-Chinese producers of rare earths, announced today that its proven and probable reserves of rare earth minerals at its Mountain Pass, California facility have increased by 36 percent, according to a new independent estimate.

Vedanta Group says mining ban in India hits iron ore output

London-listed diversified miner Vedanta Resources (LON:VED) announced today a significant drop in its full-year iron ore output, attributed to both a mining ban in India’s southern state of Karnataka and logistical bottlenecks in nearby Goa, which hurt one of its key profit generators.

No bubble here: Rogers says Chinese property market is cooled down

Legendary commodity-investor and Singapore resident, Jim Rogers, told China Daily News that the property market has been slowed down and there is no crisis.

Rare earths shortage would spur Pentagon action, official says

The Defense Department would intervene in case of a shortage of rare earth materials for defense electronics and motors, Brett Lambert, the Pentagon official responsible for industrial policy, said.

Ready, set, go: China’s long-awaited rare earth industry group is already here

In a move to curb the rampant domestic illegal mining of rare earth, as well as to regulate its rare earths players, China launched on Sunday its industry association for the precious metal commodity, as anticipated last week.

New regulations on gold trading introduced in Vietnam

The Prime Minister has issued a decree on the management of gold trading, stipulating that the government will hold a monopoly over the production of gold bars as well as the import and export of unprocessed gold.

Indian gold traders call off strike after curbing March imports by as much as 80%

Indian imports may have tanked over 80% in March and could drop 40% in the second quarter after gold traders and jewelers went on a three week strike over taxes.

Top 10 gold producers: Indonesia leaves 31 tonnes underground

The price of gold averaged $1,571 an ounce in 2011 meaning the South East Asian country missed out on $1,7 billion in potential revenue.

Too much of a good thing?

A recent study published by Canberra-based think tank The Australia Institute calls for a slowdown in mining investment.

Lynas rare earths plant in Malaysia gets momentary red light

Malaysia's Atomic Energy Licensing Board (AELB) has postponed granting a temporary rare earths mine operating license (TOL) to Australian miner Lynas Corp. (ASX:LYC) until an outstanding appeal by residents to the science, technology and innovation minister has been completed.

Rio and BHP should team up: analysts

Rio Tinto and BHP Billiton could have more success selling their diamond assets if they team up, according to analysts from Nomura.

Russia can't be a potential market for polished diamond export

Will the Gems and Jewellery Export Promotion Council (GJEPC) succeed in its endeavour of establishing Russia as a potential market for polished diamond export through the Indo-Russian buyers sellers meet (BSM) in Surat? It seems like a distant dream for many in Surat.

Indonesia's proposed export tax has Indian power companies scrambling

Indonesia's proposed tax on mining exports is having a ripple effect on Indian power companies that buy fuel for coal-fired power plants.

'King of mining' to appeal charge of market abuse

Ian Hannam, better known as the "king of mining" after advising on some of the biggest deals in the past two decades, including BHP's London listing through its merger with Billiton, is fighting to save his reputation.

BHP Australia coal mines vote to continue strike

Australian coal mines owned by BHP Billiton (ASX:BHP) and Mitsubishi Development Pty Ltd (TYO:8058) in the Bowen Basin area voted to resume their strike, momentarily stopped this morning, right after Easter.

No iron ore buying rush seen when China reopens

Physical iron ore traders say they don't foresee a rush of buying from Chinese steel mills tomorrow when the market reopens after a three-day break, with a blurry demand outlook capping steel prices.

Australian miners face explosions, acid sprays, gassings

Acid sprays, gassings, venomous snakes, and lightning strikes are just some of the risks faced by Queensland miners atop the threat of mine collapse and violent explosions.

Barrick Gold's Porgera mine resumes operations

Operations at Barrick's Porgera open pit gold mine, in Papua New Guinea, resumed this morning after the government decided to send troops to the site last week, under a troop call-out order from 2009 still in effect.

C$25 billion to improve Canada’s Asian trading opportunities

Christy Clark, the Premier of Canada’s British Columbia unveiled details of a C$25 billion public and private sector plan to expand trade with Asia, by improving the province's transportation system.

Race on to dig new zinc mines as old ones run dry

With experts saying zinc could be in deficit by 2017 if not earlier, miners from Australia to Africa to the European Union are racing against time to attract investment in new projects.

Prophecy up 4.8% after Southgobi deal puts Mongolian coal back in focus

Prophecy has more than 1.4 billion tonnes of surface minable coal resources at its flagship Chandgana project and is already producing at Ulaan Ovoo in Mongolia.

Australia to lure more U.S. construction workers to mining projects by reforming licensing rules

Australia is hoping to lure more American plumbers, electricians and construction workers to be employed on Outback projects in the burgeoning mining and gas industries by changing how their skills are assessed.

Extreme use of mining vehicles can make them catch fire — Here’s how to protect them

Fire protection equipment specialist Worldman offers a comprehensive range of vehicle fire suppression systems designed to detect and suppress fires occurring in mine site vehicles.