Asia Mining News

Centerra Gold posts revised 2012 production forecast for Kumtor Mine

Canada-based gold producer Centerra Gold Inc. (TSX:CG) announced today that increased ice movement in the southeast section of the pit will delay scheduled access to the high grade SB zone. Preliminary engineering analysis now indicates production of 390,000 to 410,000 ounces of gold in 2012 at its Kumtor mine, rather than between 575,000 and 625,000 ounces as previously forecast. The revised production profile will continue to be weighted to the fourth quarter.

Canadian Nordion accused of frustrating efforts to wean the world off nuclear weapons-grade uranium

Canadian health products provider Nordion was the target of criticism at a major nuclear security summit in South Korea due to the company’s deal with Russia that entitles it to sell medical isotopes made with weapons-grade uranium for the next eight years.

Report rejects Chinese takeovers as threat to Canada

Most Chinese takeovers in the resource sector do not pose a threat to national security, says the author of a new report on Chinese investment in Canada.

Nickel mining in Philippines: provincial governor to be charged with murder of anti-mining activist

In January last year local radio broadcaster Gerry Ortega, who fought hard for a ban on mining on Palawan was slain and now the Philippines' Department of Justice asked for murder charges to be filed against former Palawan Governor Joel Reyes and four others in connection with his death.

Japan looks to Canada as new source of natural gas

Japan and Canada have formally agreed to launch negotiations on a bilateral free trade agreement (FTA) to eliminate import tariffs on most products and cooperate on developing energy resources, including natural gas and minerals, reports Platts.

Nautilus Minerals shares on the rise after solid year end results

Nautilus Minerals Inc. shares were up almost 24% this morning (TSX:NUS), after the company released solid year end results with, narrowing its full-year loss in 2011 to US$34 million.

Win some lose some: Gold Fields delving deeper into Philippines, suspends drilling in Mali

Nick Holland of CEO Gold Fields said on Monday the company has plonked $63 million on a second gold-copper project in the Philippines. The globe's fourth-largest gold miner also announced it is suspending drilling in Mali, Africa's third largest gold producer following a military coup.

Canadian Monument busts gold thieving at its Malaysian Selinsing mine

Canadian-based gold producer Monument Mining Limited (TSX-V: MMY) informed it busted a gold stealing syndicate at the Selinsing Gold Mine in Malaysia.

HSBC hires Simon Francis to head metals and mining research

HSBC has hired three analysts from Samsung Securities, including industry veteran Simon Francis, to expand its metals and mining research team, as the global bank seeks to develop its research coverage across high-growth sectors.

Coal India’s 180 mining projects awaiting nod

As many as 180 proposals of Coal India (CIL) are awaiting forestry clearance from the Centre and state governments, Parliament was informed today.

Wardell Armstrong to lead mining project masterclass at Minex in Astana

A masterclass looking at the whole process of developing a mining project - from initial studies and designs through to operations and management – is being organised and led by Wardell Armstrong International at this year’s Minex forum from 17 to 19 April in Astana, Kazakhstan.

Aquila and Vale take a break on coal sales dispute

A legal clash between Brazilian mining giant Vale (NYX:VALE) and Australia's Aquila Resources (ASX: AQA) has taken a step towards resolution this morning after the companies announced they’ve reached an agreement on coal shipments from their co-owned Isaac Plains mine in Queensland.

Australia, Canada, Chile, Brazil and Mexico the top five mining projects’ destinations

In its annual ranking of countries in terms of political risks for mining investment, the mineral industry advisory firm Behre Dolbear, has ranked Australia, Canada, Chile, Brazil and Mexico as the top five nations in which to locate mining projects.

Aussie miners find Latin love

Australian miners are setting up in remote outback areas in a land enjoying a resources boom - Chile.

China on the prowl for mining investments in Africa, S.America and Asia

Chinese investors are turning their focus to emerging economies as they look to expand their demand for commodities and switching away from Australia and Canada, which are getting too expensive.

India wants to truck Afghan ore through Pakistan

India is hoping to bury the hatchet with its historical rival Pakistan, at least enough for both sides to benefit from a massive iron ore deposit in Afghanistan.

India's new tax measures may impact global diamond demand

With diamond jewelry demand booming in India, the phenomenal rise of domestic consumption has somewhat compensated for the decline in diamond jewelry demand in the traditional markets, especially the United States.

India’s polished diamond imports slashed 80% in February

A sharp decline in India’s polished diamond trade in February after an import tax started to be collected. India exported $1.44 billion worth of polished diamonds in February, a 53.7 percent drop compared to February 2011.

No Sri Lanka coal power plants after 2030

There will not be any opportunity in the world to run coal power plants after the year 2030, the Minister of Power and Energy, Patali Cahampika Ranawaka said.

Rio Tinto in Mongolian power struggle

A power solution for one of Rio Tinto's most prospective mines remains elusive, raising doubts over whether plans to be in production within six months can be achieved. T

Anglo looking for new coal assets

Anglo American is looking for thermal coal assets in Australia and Indonesia, especially as prices of potential targets have come down, the head of its thermal coal unit said in an interview.

India working on mining tax

An Indian government task force comprising representatives of steel, mines, forest and environment ministries was working on modalities for levy of a Forest Development Tax (FDT) on minerals mined from forested regions.

Korea Resources wants at least 10% of world’s largest met coal deposit

State-run Korea Resources Corp. (KORES) is planning to invest at least US$532 million (600 billion won) in mining projects abroad this yea, particularly in the coal sector of Indonesia and North America, reports Bloomberg.

Vale, Newmont Retain Appetite for Indonesia Mines Amid Stake Cut

Global companies led by Vale SA (VALE5) and Newmont Mining Corp. (NEM) plan to invest in Indonesia’s mines, undeterred by a new rule cutting foreign ownership, as they hunt for resources in the world’s biggest exporter of tin and thermal coal.

Zijin Mining planning $280m U.S. dollar-denominated bond issue

Zijin Mining Group Co Ltd said it plans a $280 million U.S. dollar-denominated bond issue, raising capital to acquire copper concentrate overseas for a smelter project of its unit. In a filing to the Hong Kong bourse on Tuesday, Zijin Mining said the bonds would have maturity of five years and a fixed interest rate of 4.25 percent per year during its term with interest payable semi-annually.