In tow of the John Seton's announcement, Olympus stock climbed 14% to close at $0.28.
Asia Mining News
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.
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.
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.
Andrew Hepburn writes that everyone is looking for signs that China is falling apart, but forget to consider how badly Canada would be hurt.
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.
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.
American based sanctions removed, over $2 billion invested and host to the South Asian Games.
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.
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'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 (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 […]
The IIED report urges the sector to move from improving its standards in principle to actually implementing them in practice.
Consulting firm says the top 40 global mining firms earned a record profit of $133 billion last year driven mainly by iron ore, however their market capitalization fell by 25%.
Shares of China's tungsten companies climbed on Wednesday after the country’s Ministry of Land and Resources announced the discovery of the world's largest tungsten mine in east province of Jiangxi.
Ross Beaty, the founder of Pan America Silver and Equinox Resources, is not cowed by the bad economic news. He looks at the markets and still sees opportunity.
Frontline Gold submits application for operating license on the Menderes project; plans to complete further soil sampling
If accepted the license will allow the company to hold permits for a further 10 years and continue its exploration at the Menderes site in Turkey.
Gold demand in India, one of the world's leading buyers, is likely to fall by at least 4% in volume in 2012, as higher inflation trims disposable local income, according to the latest research report by Morgan Stanley.
Stocks of major fertilizer producers Mosaic and Potash Corp hit their lowest levels in almost two years on Monday, in what is considered yet another sign the commodity “supercycle” is gearing down as slower global growth cools demand.
The national government should promptly address uncertainties now hounding the mining industry due to the former’s unclear policy towards the sector the Chamber of Mines of the Philippines says.
China is looking to allocate a value-added tax (VAT) permit to all rare earth companies in a desperate effort to curb resource plundering, dangerous artisanal mining and widespread pollution, as well as collecting revenue.
On the heels of Fitch's sovereign credit downgrade to A plus (the fifth-highest investment grade), Japan's government debt continues to swell.
An increase in demand from Chinese consumers could make diamonds an attractive proposition for investors, according to Bank of America Merrill Lynch
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 could take a page out of Nautilus Minerals' playbook and begin exploring for undersea polymetallic sulphide deposits.