Asia Mining News

Australia's carbon emission tax kicks in

After years of political wrangling, the Minerals Resource Rent Tax or MRRT takes affect as the country's largest polluters will now pay A$23 for every tonne of greenhouse gas they produce.

Gold imports could rise by 20 pct in 2nd half: Bullion association

The second half of this year may see 20 percent increase in gold imports to 300 tonnes over the first six months, a bullion association has said.

Japan restarts first nuclear reactor since crisis

Ohi nuclear plant’s reactor No. 3 was restarted on Sunday, the first nuclear reactor to power back up after Fukushima nuclear disaster.

Ignore the market jump, a reckoning is coming: Jim Rogers

Jim Rogers poured cold water on Friday's stock rally after European leaders agreed to backstop more debt-stricken banks. The S&P 500 jumped 2.49% on Friday, and spot gold was up $30 to close at $1,599.10/oz.

Opposition victory in Mongolia vote promises greater share of mining profits for citizens

The opposition Democratic Party declared victory in yesterday’s parliamentary elections over Mongolia’s ruling party in a highly disputed election that focused on how to better share profits from a conflict-ridden mining industry.

Woulfe Mining strategic agreement update

In regard to its Korean-based mining project, the Woulfe press release states, " there is no extra 60 days in the deal with our strategic partner and it is on track, moving forward under the terms outlined in the agreement announced on February 28th, 2012."

Nautilus sinks to fresh lows as PNG elections descend into shambles

Nautilus Minerals, locked in a dispute with Papua New Guinea over ownership of the world's first sea-floor mine, dropped 9.7% on Thursday, hurt by news of violence, kidnapping, vote rigging and delays after the first week of general elections in the country.

Centerra Gold’s shares tumble as director resigns

Shares of Centerra Gold fell 16% by midday after an announcement that one of its directors had quit.

Kyrgyzstan to reassess deal with Centerra Gold

Kyrgyzstan's parliament has approved a review to the operating license for Centerra Gold, which is developing a major gold mine that accounts for 12% of the Central Asian nation's economy, announced the company Wednesday.

Potash supply to exceed demand by 2020: report

Worldwide reserves of potash could surpass demand by between 59% to100% by 2020, says the latest report published by Rabobank.

$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.