Asia Mining News

$8 billion resource reserve likely to lift Bolivia's depressed economy

The total value of the copper, silver, indium and manganese reserves discovered by South Korean company Kores in Bolivia last year, may be worth more than $8 billion.

Scotia analyst calls Centerra’s stock an ‘unusual buying opportunity’

Shares in Centerra Gold Inc. are down 25% in the last five days, following the release of a critical report on its Kumtor mine in Kyrgyzstan.

Canada’s pink gold rush attracts the world

With the precious cargo slung over his shoulder, Vikram Singh strides through his field spreading the white granular stuff where it matters most.“I can't afford to waste any...I had to buy it on the black market,” says the 38-year-old farmer from Dostpur Mangroli village in the northern Indian state of Uttar Pradesh.

Diamonds looking good long because of Western style weddings in China and India

The rapid industrialization of China and India will be good for the diamond business, and in the next decade demand will break through the peak reached in 2006, according to an analyst at Bain & Co.

Coal prices sink again as Chinese storage yards near capacity

Analysts are now saying that the world's second largest economy may not be the "long-term structural importer of thermal coal" suppliers have been betting on.

Bear market in commodities a risk for equities

Economic data last week from around the world have dampened the demand outlook for basic resources.

Smaller coal miners operate below cost

As many as 10 percent of Indonesian coal producers are operating mines below cost after prices for the commodity slumped amid weaker Asian demand, according to Australia & New Zealand Banking Group.

The secular commodity supercycle explained in just one chart

Commodity bulls point to the massive build out in the developing countries to buttress their argument that the long-term outlook for metals is bullish—and the party has only just begun

Alrosa's board talks about the future

The company's supervisory board, which met in the wake of Russia's announcement to sell its in 51% stake in Alrosa, outlined intentions to reduce open-pit mining, increase diamond reserves to over 1.1 billion carats and invest in iron ore.

Uranium mining in Asia to flourish thanks to rising demand for nuclear power

According to the Australian Bureau of Resources and Energy Economics and Sciences, the spot price of uranium, which averaged $62 per pound mark in 2011, will reach around $81 a pound by 2016 due to the massive surge in demand.

Adani refutes foreign workers accusations

Indian coal mining giant Adani denied claims it's cheating the Australian migration system by sneaking in foreign workers.

China has 'paid a big price' for its rare earth industry: government

China is restricting the export of rare earths to protect its environment, said Su Bo, vice-minister of industry and information technology at a news conference in Beijing on Wednesday.

Papua New Guinea won't budge over Nautilus seabed mine. Shareholders abandon ship

Canada's embattled Nautilus Minerals dropped 11.5% on Wednesday after Papua New Guinea said it is within its rights to terminate a deal made last year for the development of the world's first commercial seabed mine.

Olympus announces chief operating officer's resignation

In tow of the John Seton's announcement, Olympus stock climbed 14% to close at $0.28.

India’s polished diamond exports drop 44% in May

The month of May delivered 44% drop (on yearly basis) in India’s polished diamond exports which is valued at $1.245 billion, while the volume of exports declined 50% to 2.574 million carats.

Falling Rupee stalls diamond industry

Indian firms that have borrowed funds from overseas banks would now have bear a higher burden for discharging their debts. Moreover, the diamond industry is dependent on import of rough diamonds and depreciation of rupee would push up the import cost even when prospects for exports of polished diamond might remain uncertain.

L&L Energy buys majority stake in Chinese coal mine

US-based L&L Energy, Inc. (NASDAQ: LLEN), a company with five-year track record of profitable coal operations in China, announced it has entered into an MOU to acquire the Lashu Mine in HeZhang County, Guizhou Province.

Why a slowdown in China would be particularly bad for Canada

Andrew Hepburn writes that everyone is looking for signs that China is falling apart, but forget to consider how badly Canada would be hurt.

Kumtor’s freezing Kyrgyzstan’s ceasing

Kyrgyzstan's economy will grow by barely a quarter of the 7.5 percent originally forecast because of the collapse in output from the nation's flagship venture with Canada's Centerra Gold.

Churchill Mining's $2-billion lawsuit will not be heard by Indonesia's supreme court

Indonesia will not be righting the perception that it's a place safe for miners after the country's supreme court said it will not hear Churchill Mining's (LON:CHL) appeal in its two-year legal battle to get compensation for a coal project that the company says was unfairly seized.

Myanmar: what investors need to know

American based sanctions removed, over $2 billion invested and host to the South Asian Games.

Frenzy for Aldridge Minerals after resource update

Stock is up 28% after reporting an indicated resource of 2.6 million gold equivalent ounces at 3.05 g/t and a tripling of the inferred resource.

From mine to finished magnets: Molycorp closes US$1.3 billion acquisition of Neo Materials

US-based rare earth miners, Molycorp (NYSE:MCP), gets a foothold in Asia after completing its US$1.3 billion acquisition of Canadian-based Neo Material Technologies Inc. (TSX:NEM).

Singapore state fund builds up stake in Ivanhoe, does nothing for share price

Singapore's sovereign wealth fund Temasek Holdings has taken up a 5.5% stake in Canada's Ivanhoe Mines valued at roughly $420 million ahead of a $1.8 billion rights offer at the miner. Early Monday Ivanhoe, already down 43% this year shed another 3.8% in value.

Woulfe Mining is raising $20 million to reopen South Korean tungsten mine

Woulfe Mining (TSX-V) is raising $20 million to reopen one of the world's largest tungsten resources. The company announced on Wednesday that it will offer a convertible unsecured senior debentures at a price of $1,000 per […]