Asia Mining News

$15,000 an ounce for gold would not be absurd: Eveillard

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.

Official: China eases control over thermal coal price

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.

Report: North Korea secretly selling citizens' gold to pay for missiles, birthday bash

Kim Jong-un and co has sold some two tonnes of the precious metal to China.

Philex Mining could face more penalties, but refuses to pay

Philippines-based Philex Mining Corp. (PX:PM), the country's biggest miner, may have to pay fines for violations of the Clean Water Act and the company’s own Environmental Compliance Certificate (ECC), the Mines and Geosciences Bureau (MGB) said Thursday.

Anglo Asian pre-tax profits hurt by harsh weather

Gold, copper and silver producer Anglo Asian Mining posted Thursday pre-tax profits of $10.5 million for the six months to the end of June - down from $14.2 million a year ago.

The last great price bubble is dead

For the past decade we’ve toiled up the slope of the so-called commodities super-cycle, a rise in metal and hydrocarbon prices that has made consumer goods costly but drove torrid profits for traders, miners, investment bankers, and pension funds. But what's happening now?

China to help Venezuela develop one of world’s largest gold mines

China and Venezuela have signed an agreement to jointly develop Las Cristinas gold mine, one of the world’s largest deposits of the shiny yellow metal, located near a town bearing the name of the mythical golden city of El Dorado.

Oyu Tolgoi ready to lift the curtain, but someone has to turn on the lights

Rio Tinto’s flagship $5.2 billion copper-gold Oyu Tolgoi mine in Mongolia near the Chinese border – one of the biggest mining projects in the world – is practically ready to go, except for one “detail”: it needs power supply to kick-start operations.

Polyus Gold, Norilsk Nickel signal interest in Kyrgyzstan's gold

Russia's Polyus Gold and Norilsk Nickel have expressed interest in developing gold reserves in Kyrgyzstan, a Russian official said.

Centerra Gold secures regulatory approval for mine in Mongolia

Centerra Gold Inc. announced that its Boroo mine, located in Mongolia, has received regulatory approval for its mine plan for the heap leach facility and therefore now has all required permits to resume heap leach operations.

Milling to resume at Centerra Gold's Kumtor mine in Kyrgyzstan following planned shutdown

Centerra Gold Inc. announced today that the mill at the Kumtor mine resumed operation on September 18, 2012 following a planned seven-week shutdown.

Afghanistan to reveal final bidders for giant gold deposit

The Afghanistan Ministry of Mines said Tuesday it opened its final bid for the Badakhshan gold deposit, located in the northeastern province of Badakhshan.

INFOGRAPHIC: Japan's debt crisis

InformedTrades looks at the economic hole Japan has dug itself, especially since it gave up nuclear energy and started importing energy.

The iron ore conundrum

Earlier this week, the Supreme Court allowed 18 mines to resume operations in Karnataka, partially easing a 16-month ban on iron ore mining because of environmental concerns. The decision should help increase ore supplies to the domestic iron and steel...

How China drives commodities down

Australia's resources minister, Martin Ferguson, has caused a stir with his assertion that the country's mining boom, one of the biggest drivers of its economic growth, is "over". As he acknowledged, the state of the global economy has depr...

IMG wrestles with cons of coal block cancellation

The governments high-level panel looking into the controversial coal block allocations for captive mining has decided against cancelling three...

Gold producer plans IPO once divestmentissue is resolved

JAKARTA: Newmont Nusa Tenggara (NNT), the country's second-biggest gold producer, plans to sell a 10 per cent stake in itself for more than US$500 million (RM1.5 billion) in an initial public offering, once a contentious divestment issue is resolved, i...

Indian state of Goa shuts down iron mines

The 93 mines in India's richest state of Goa, 90 of which are iron ore producers, have been force to halt operations after a government-backed inquiry said they were illegal and didn’t have the basic environmental permits to operate.

Diamond swallowed at exhibition a fake; $13,000 gem still missing

Sri Lanka's diamond-swallowing story took an surprising turn Tuesday as police revealed the 1.5 carat stone gulped by Chou Wan, 32, at a gem show was fake.

Canadian Nordion loses three year dispute with Atomic Energy

Shares of nuclear medicine company Nordion dove close to 40%, down $3.93 at $6.53 in Toronto on Monday.

Afghanistan's trillion-dollar mineral assets imperilled by corruption

Mining companies would give their eye teeth to exploit Afghanistan’s recently discovered $1 trillion of untapped mineral wealth, but analysts warn that corruption, war and lack of infrastructure are likely to keep delaying a mining boom in the country.

Lynas OK to operate controversial rare earths plant in Malaysia

Malaysia's Atomic Energy Licensing Board granted a temporary licence for an initial two-year period under strict safety requirements.

Thousands marched against cyanide use in gold mining

Over 10,000 of environmentalists took the streets of Raub, in the Malaysian state of Pahang on Sunday, to oppose the use of cyanide at the nearby Bukit Koman gold mine, which they claim has been using the chemical compound to the detriment of their health.

Death toll in China mine blast rises to 43

The death toll from a gas explosion at a Chinese coal mine has risen to 43, with three miners still remaining underground.

Athabasca confirms oil sands venture

Athabasca Oil Corp. (TSX:ATH) confirmed Friday that it is in the preliminary stages of establishing a joint venture for two of its Alberta oil sands assets, but it declined to identify its partner.