I'm not all that thrilled to be owning Freeport McMoRan Copper & Gold (FCX) right now. While the company's stock has tended to be highly correlated to the price of copper, that correlation has slipped a bit. I'm guessing this has a lot to do with the violence and labor disputes at the company's Grasberg mine in Indonesia.
Asia Mining News
State-run explorer Oil India is looking at buying stake in ConocoPhillips' (COP.N) oil sand assets in Canada, as well as the Gabon assets of France's Maurel et Prom, Finance Director T.K. Ananth Kumar said on Monday.
A second major physical iron ore trading platform, supported by major mining companies and Chinese steelmakers will launch this Wednesday, competing directly with China's new own platform in a race to create an industry price benchmark.
An increasing demand for diamond jewellery coming from China could help precious stone producers to boost sales in the following months, hinted diversified miner Rio Tinto (LON:RIO) in a release summarizing key insights from a market research.
Asian Mineral Resources' board is recommending that the shareholders turn down Norilsk Nickel's $22.3 million offer or 11 cents a share.
Mehul 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.
The 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.
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.
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.
Global refined copper production rose by 3% year-on-year to 4.95 million tons in the first quarter (Q1) of this year with significant increase in Spain, Iran and India, as per latest data released by World Bureau of Metal Statistics (WBMS).
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.
India'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.
Despite 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.
AL Rajhi Bank Malaysia, which introduced its gold investment product last year, is targeting sales of close to RM100 million worth of gold this year.
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.
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.
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.
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.
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.
Xstrata 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.
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.
Toronto 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.
China'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.
Production 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.
The government today said Coal India (CIL) has signed a pact with government of Limpopo, South Africa for jointly identifying, exploring and developing coal mines.