Gold trading is unregulated in Malaysia and the central bank says more than 20 so-called gold investment companies are involved in making unauthorised transactions.
Asia Mining News
Despite safety concerns, China has made the right decision to re-start construction of nuclear reactors. Boosting the nation's energy supply remains pivotal for sustaining long-term economic developments in the country.
Several months ago, we reported about a troubling development in Vietnam, happy inflationary host of one of the world's most rapidly devaluing and best named currencies, that in direct refutation of Ben "Gold is not money, it is tradition" Bernanke's claim that gold is just a trinket one can fondle with no inherent value, the local banks had gone as far as paying the local residents a dividend to "store" their gold (recall all those charges against gold that it never, ever pays a dividend....).
Guangzhou Donghua Enterprise Co., Ltd. announced that it has signed a letter of intent with controlling shareholder Guangzhou Yuetai Group Co., Ltd. to acquire its gold mining subsidiary Xinyuan Mining.
Chinese Premier Wen Jiabao has accumulated vast wealth during his time in power, but reports of his $2.7 billion fortune —and the influence of his wife, Zhang Beili, the "Queen of China's Diamonds"— have been blocked in China.
Chinese companies are seeking the wealth of mining opportunities that neighbouring Myanmar (ex-Burma) has to offer, as the country opens its economy to foreign investment after more than half a century of military ruling.
Weakness in the developing world has had an ugly recent effect: vibrant Asian economies wilted over the summer months, and now face a less certain path in the months ahead.
Canada-based Nautilus Minerals Inc. (TSX&LON:NUS) sank to fresh lows Wednesday in London, falling almost 5%, hit by the news of a Papua New Guinea’s landowners petition to the Government to cancel the firm’s seabed mining permit.
The Chinese coal mining companies that are staring business in B.C., Canada, have been accused of favouring Chinese applicants to fill available positions, as they have posted ads looking for workers who speak Mandarin, not a language spoken by most Canadians.
Polymetal International has made several trial shipments of precious metals concentrates to Japan and South Korea and is planning talks on further supplies, Polymetal's CEO Vitaly Nesis said in an interview.
As the November 25 deadline for credit institutions to stop gold mobilization approaches, Vietnam is considering to import more gold to boost supply and reduce price gap between domestic and global prices.
Canadian Centerra Gold (TSX:CG) said Tuesday an independent assessment of a Kyrgyz Republic Parliamentary report backs the company’s view that the report’s allegations against its Kumtor gold mine are unfounded.
US and Canadian markets dipped on Wednesday as earnings season began with Alcoa (NYSE:AA), the world's leading producer of aluminum, forecasting slower demand for the metal.
Anglo Asian Mining disclosed Tuesday a surge in gold production at its flagship gold, copper and silver mine, in Azerbaijan, in the third quarter.
Global production of diamonds reached 124 million carats last year and, according Bain & Company consultants, 13 new mines should be adding 23 million carats by the end of 2012. But Money Week’s analyst Tom Bulford is warning those and other figures are not sufficient to avoid a looming supply crunch.
Officials expect reserves to grow
India’s Supreme Court order the state of Goa to halted all mining activities in Goa, including transportation of already mined manganese and iron ore, and sought responses of the union and state governments on an environmental group's petition.
The world’s most important copper companies will gather next month in Shanghai in an event organized by the Chinese’s city Futures Exchange (SHFE) and Chile’s Centre or Copper and Mining Studies (Cesco).
Demonstrators clashed with police and tried breaking into a building housing the parliament and government offices in Kyrgyzstan's capital Wednesday, as they demanded the nationalization of the Kumtor gold mine, owned by Canadian Centerra Gold (TSX:CG).
A Buddha statue looted by Nazis in Tibet in the 1930s was carved from the Chinga meteorite, which crashed to the Earth 15,000 years ago, revealed Elmar Buchner of the Planetology Institute at Stuttgart University.
Newmont cut its 2012 production target forecast for its Batu Hijau Indonesian mine from 114,000 ounces of gold and 192 million pounds of copper to 71,000 ounces of gold and 170.6 million pounds of copper.
Inner Mongolia Rare-Earth to participate in asset reorganization between Ganzhou Chenguang, Sunyoung
Inner Mongolia Rare-Earth announced on September 27 that the company will participate in the material assets reorganization between Ganzhou Chenguang Rare Earths New Material Shares CO., Ltd. and Sunyoung Properties Co., Ltd.
A 17-year-old agreement to develop about $2 billion worth in iron ore deposits between, mining giant Rio Tinto and state-own Odisha Mining Corporation , is about to be nothing but history.
Storied investment guru Jean-Marie Eveillard says frenzied money printing by central banks and Neo-Keynesian stimulus programs adopted by governments around the world could jointly push the price of gold to $15,000.
On September 26, Zhou Fengqi, a consultant of the National Development and Reform Commission Energy Research Institute, said that the Chinese government will relinquish its control over the trading price of thermal coal.