Asia Mining News

Calls for Indian gold bonds grow louder

The Indian government is mulling the issuance of gold bonds to decrease imports, arrest the rupee's slide and channel household savings into infrastructure.

Indonesia plans new quotas to limit mineral exports

The quotas, which will be initially introduced between June and August, will apply to all mineral exporters, a Trade Ministry official said Friday.

The gold in mining: Canada's B.C. sector thriving, thanks in large part to China

The head office is just one among 800-odd mining companies clustered in downtown Vancouver. But even in a group so large it serves as the backbone of the city’s business district — and the world’s centre of mining expertise — Teck Resources stands out.

Uranium prices to hit rock bottom this year

With the price of uranium down about 25% from levels reached before the Japanese earthquake and nuclear disaster in Japan last year, the least the industry wanted to hear was what the latest edition of the Scotiabank Commodity Price Index had to say: the yellow material prices may well bottom in 2012.

Mongolia backtracks on state ownership of mining companies

Fearing a backlash by foreign investors in the mining sector – the foundation of the country's economy – Mongolian legislators on Tuesday watered down many of the provisions of draft legislation that gives the state greater control and ownership of mining projects.

Cebu copper miner records output increase last month

Carmen Corp., a subsidiary of listed miner Atlas Consolidated Mining and Development Corp., posted output hike last month on the back of better metal grades and higher gold prices.

New China iron ore exchange trades 242,000 tonnes on first day

A total of 242,000 tonnes of iron ore were traded on the first day of business on China’s first physical iron ore trading platform, China Beijing Mining Exchange (CBMX) said in a press release.

Fukushima now priced into market: Uranium One

Uranium One said the effects of the Fukushima nuclear power plant meltdown in Japan last March are now priced into the market for uranium oxide.

China wants to take over the world's largest undeveloped iron ore project

A private group of Chinese magnates is planning to take away Guinea’s Simandou, the world's largest undeveloped iron ore project, from Anglo-Australian mining giant Rio Tinto.

Import of coal a remedy for India's power generation losses: Panel

Importing coal is the "remedy" for avoiding power generation losses in the country, while the government's replies on the issue have been ambiguous, a Standing Committee report on Energy has said.

Political indecision strangles India's coal industry

India's starving coal industry is caught between the devil and the deep blue sea: between needing state backing for the massive investment of buying overseas mines and infrastructure, and being frustrated by impenetrable government red tape.

New Chinese iron ore trading platform debuts tomorrow

The new China Beijing Metals Exchange (CBMX), the country’s first physical iron ore trading platform is set to debut Tuesday, with the major producers of the commodity BHP Billiton (NYSE:RIO), Vale (NYSE:VALE), Rio Tinto (NYSE:RIO) as members.

Vietnam president visits mining workers

President Sang visited workers at the Vang Danh Coal Company, which employs 6,000 workers and produces more than 600,000 tonnes of coal a year. President Sang also presented gifts to Do Van Quang, whose family has three generations being coal miners.

Japan completely without nuclear power for the first time since 1970

Japan will find itself without nuclear power for the first time since 1970 as the last of its currently operating nuclear reactors prepares to go offline.

Indonesia jumps on the mining exports tax wagon

Indonesia has decided to have its mining cake and eat it too, as the country, one of the world’s largest exporters of copper and coal, will start imposing a 20% tax on mining exports beginning next week.

Report: Mongolia going the way of Zimbabwe with mandatory state control of foreign miners

Draft legislation, a copy of which was seen by the Financial Times on Wednesday, gave "the clearest sign yet that Mongolia is uncomfortable with the large foreign investments that have so far been a mainstay of economic growth."

Silver Dragon to begin exploration in China

Silver Dragon Resources said today its joint venture with Sanhe Sino-Top Resources & Technologies (Sino-Top) has approved an exploration program on three of its properties in northern China.

Malaysia rejects Lynas lawsuit against opponents of its rare earth project

The High Court of Malaysia today rejected Australian miner Lynas Corp’s (ASX:LYC) application for an injunction against pressure groups that oppose the company’s rare earth plant (LAMP), informs The Malaysian Insider.

Japan and India sign rare earth deal to reduce dependency on China

Japan and India have reached a basic agreement to jointly develop rare earths, used in the production of several high-tech goods from weapons to cell phones, and supply Tokyo with about 14% of its rare earth needs.

Low production of rough diamonds alarms India

The latest figures by Kimberley Process Certification Scheme (KPCS), international diamond regulators on the global diamond production, have set the alarm bells ringing in the world's biggest diamond cutting and polishing centre in Surat, India.

Australian Lynas to shut down Malaysian opponents with lawsuit

Australian rare earths miner Lynas Corporation (ASX:LYC), has filed a defamation action against Malaysian protestors and opponents over their criticism of the company's rare earth plant (LAMP), which will process ores shipped from Western Australia.

Sun Metals to maintain zinc deliveries despite supplier collapse

The Australian miner, a subsidiary of Korea Zinc, said Tuesday its Zinc output target was still achievable despite the collapse of key supplier Kagara Ltd

Imports likely down 30% as gold hits all-time rupee high

Indian gold imports are likely to plummet this year as a crashing currency and new taxes send domestic gold prices soaring.

Chinese firm has plans to revive Uganda's Kilembe copper/cobalt mine

Gingko Energy Company plans to spend $100 million over five years to revive production at the Kilembe copper/cobalt mine, which was abandoned in the early 1980s due to political turmoil.

Mongolia's mine law change unlikely to be retroactive – minister

Vice finance minister, Chuluun Ganhuyag, says the proposed new law will only apply to investment in certain deposits, but the list will go beyond the country's current list of strategic assets.