Asia Mining News

Increasing demand from China could see diamonds sparkle, says Merrill Lynch

An increase in demand from Chinese consumers could make diamonds an attractive proposition for investors, according to Bank of America Merrill Lynch

Singapore iron ore platform off to brisk start

Miner BHP Billiton sold two cargoes of iron ore via the GlobalOre trading platform that debuted on Wednesday, traders said, heralding the start of competition with top iron ore importer China's efforts to set an industry price benchmark.

China mulling undersea mineral exploration

China could take a page out of Nautilus Minerals' playbook and begin exploring for undersea polymetallic sulphide deposits.

Silvercorp says work interrupted at mine in China

Canadian Silvercorp Metals (TSX: SVM-News)(NYSE: SVM-News), China’s biggest silver miner, said Monday that production at its flagship silver-lead-zinc Ying Mine will be interrupted for about five days as a result of power interruptions.

Freeport McMoRan: Labour dispute and lower copper prices pressuring stock

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.

Market Chatter: Oil India Eyes Stake in ConocoPhillips' Canada Oil Sands

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.

Singapore-based iron ore platform to compete with China's beginning on Wednesday

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.

Rio Tinto confirms strong potential for diamond jewellery demand in China

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 says no to Norilsk Nickel's $22 million offer

Asian Mineral Resources' board is recommending that the shareholders turn down Norilsk Nickel's $22.3 million offer or 11 cents a share.

Diamond-seller Choksi takes on world with Bollywood

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.

Global aluminum market to reach $112.3 billion this year: report

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.

Xstrata relies on China to lift copper demand

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.

Rio Tinto sells aluminum business for $185 million

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, Indian, Spain, Iran refined copper production rises in Q1: WBMS

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).

China may surpass India as biggest gold market, WGC says

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.

Tata Steel forecasts improved demand amid European woes

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.

Throwing BRICS into the fire of gold and silver investment demand

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 eyes RM100m in gold sales

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.

China's rare earth quotas are a joke. 74% of oxides never left port 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.

India the next China? Don't bet on it, says BHP

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 is developing a grid better for coal than renewables: report

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.

Mining industry plans to invest $20 billion in renewable energy by 2020, forecasts Pike Research

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.

Crated and buried Spitfires cause business split

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 $60 billion Philippine mine may stall at church door

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 puts its money on the iron ore market and China

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.