Asia Mining News

High River acknowledges extension of offer by Nord Gold; board confirms recommendation that shareholders accept Nord Gold's offer

The board of directors of High River (with those directors who are nominees of Nordgold abstaining), have unanimously recommended that High River shareholders accept the offer.

Australia must tackle lack of competitiveness — Rio Tinto

The giant miner says Australia might miss the “Asian century” boat unless its tackles serious shortcomings, such as competitiveness, productivity, infrastructure investments and foreign capital attraction.

Gold demand keeps soaring in India

According to the World Gold Council (WGC), India's net gold imports for domestic consumption is expected to be about 800 tonne this year.

Indonesia’s tin mining brings more problems than wealth: report

Tin mining is a profitable but damaging trade that has scarred the Indonesian island of Bangka, a granite outcrop just east of Sumatra, reports English newspaper The Guardian.

Gold scales all-time high of $583/10g in India

Gold prices on Saturday hit a new all-time high in the spot market in Mumbai, India, closing at $583 (Rs 32,340) for 10g, up by Rs 190 from Friday.

VIDEO: Energy storage will be a trillion dollar industry: American Vanadium

China plans to build storage for 5% of its energy by 2021

The red queen syndrome

All through human evolution we have been harnessing increasingly effective forms of energy. From human power to horse power, to wood, coal, natural gas and uranium what we’ve been doing is searching for the highest energy density to make energy production more efficient.

Central bank: 95% of mined Philippines gold is smuggled out

After the government started enforcing a 7% tax on precious metals, most small-scale producers started selling to smugglers.

Robert Friedland joins Rothschild-Bakrie fight over Indonesia coal mines

Nat Rothschild is roping in mining legend Robert Friedland to wrest control of London-listed Bumi from Indonesia's Bakrie dynasty.

Chinese gang caught selling fake gold jewellery to Shanghai pawn shops

Members of a Chinese band that sold silver jewellery covered in a thin layer of gold in Shanghai, causing eight local pawn shops lose about $4.2 billion, were charged Wednesday with contract fraud.

India to auction 54 coal mines

Only three days after India’s auction for the 2G telecom spectrum ended in a fiasco with no bids, the South East Asian country is now talking about selling 54 coal mines.

IMAGE GALLERY: Centerra fights off nationalization in Kyrgyzstan

Will nationalization be a self-perpetuating cycle?

New study paints bleak picture for emerging iron ore producers

The Big Three's share of the seaborne trade has fallen back to 57%, but the trend will reverse as capital dries up for emerging producers.

SouthGobi reports loss as Mongolia mine stays closed

Vancouver-based SouthGobi has posted a quarterly loss and warned operations at its Ovoot Tolgoi coal mine will likely remain suspended in the fourth quarter.

South Africa's Rand Refinery builds gold analysis facility in Singapore

South Africa's Rand Refinery set up a trading office in Singapore 18 months ago and the so-called assaying and sampling facility will be finished by year-end.

South Africa's Rand builds gold analysis facility in Singapore

South Africa's Rand Refinery set up a trading office in Singapore 18 months ago and the so-called assaying and sampling facility will be finished by year-end.

Over 300 kg of gold sold as festive season kicks off in India

Despite gold prices being at the highest in the last three weeks, India’s sales in just one city totalled 300 kg on Sunday, as the country’s festive season of Diwali kicks off.

Rio Tinto’s massive diamond deposit in India brightens up the miner’s future

Just when major miners thought it was better to ditch their diamond divisions, giant Rio Tinto (LON, ASX, NYSE: RIO) says it is looking at the business with renewed enthusiasm, as a deposit the company discovered in India in 2004 has started to bear its shiny fruits.

Fatal earthquake collapses gold mine in northern Myanmar

A 6.8-magnitude earthquake hit northern Myanmar on Sunday, collapsing a gold mine, a bridge, damaging several old Buddhist pagodas and leaving as many as 12 people feared dead.

SEC rules against resource firms over Dodd-Frank

Oil, gas and mining companies' request to have transparency rules put on hold under 2010 financial reform act has been rejected.

Lynas looking to raise AUD 200 million to launch LAMP operations

Lynas Corp. plans to raise up to AUD 200 million (USD 208 million) in order to help fund the start-up of operations at its LAMP site in Malaysia.

Historic Archduke Joseph diamond may reach up to $25 million

The Archduke Joseph diamond, one of the world's most famous and rarest gems from Europe's aristocracy, is expected to reach up to $25 million when it goes under Christie’s hammer on Tuesday.

Canada may change entire temporary foreign worker program over Chinese miners controversy

Accusations of Chinese miners being dubiously brought into the Canadian province of British Columbia to work in coal mines has prompted the federal government not only to investigate the issue, but to review its entire temporary foreign worker program.

Centerra shares drop despite increasing reserve estimate of major gold project

Centerra Gold (TSX:CG) was trading low on Thursday morning, after the Canadian gold miner reported Wednesday night a $46.8 million quarterly loss due to higher costs and severely lower production at its Kumtor mine in Kyrgyzstan.