Asia Mining News

Goa must clean up mining practices or lose heritage destination

A UK Labour MP has moved an “early day motion” in the House of Commons seeking a debate on mining in the Indian state of Goa, calling upon the British government to urge local authorities to address the issue as a matter of urgency.

China's Zijin Mining obtains regulatory approval for Norton Gold takeover

Zijin Mining Group (HK:2899), China’s largest gold producer, announced on Friday that its bid for Australia’s Norton Gold Fields Limited (ASX:NGF) had successfully obtained approval from Australian regulators.

No option: China has to deleverage

Dee Woo writes in the Business Insider that the Chinese government no longer has any policy options left, and it must start deleveraging.

China Q2 growth slows to GFC levels

The Chinese economy logged 7.6% of growth in the second quarter, falling beneath the 8% threshold for the first time in three years, and hitting its lowest level since the first quarter of 2009, when the global financial crisis was still raging.

China data upsets markets, gold

Worries about China and the possibility of a hard landing weighed on markets and commodities.

Rio Tinto releases bunder project sustainable development report

Rio Tinto Diamonds has released the first sustainable development report for its diamond Bunder Project in India, due to begin commercial diamond production in 2016.

China still growing says Alcoa

Despite concerns that China may be slowing—or worse—aluminum giant Alcoa still sees robust demand in China for its products and pegs growth at 11% this year.

The Philippines hike mining royalties and expand bans

After months of intense debate among mining companies, environmentalists, local groups and church leaders, the government of the Philippines has decided to increase royalties from mining companies.

Another clue China's economy is going soft: Vancouver home sales hit a 10-year low

The National Post reports that June home sales hit a 10-year low.

Kyrgyz Prime Minister visits Centerra’s Kumtor mine amid contract evaluation

On Friday Centerra Gold hosted a visit by the Kyrgyz Prime Minister Babanov to the Kumtor mine. The visit came a week after Kyrgyzstan authorities said they wanted to renegotiate a contract with the gold miner.

Miners leap on China's surprise interest rate cut

Vedanta, Rio Tinto, Anglo American and Kazakhmys all enter top ten risers after People's Bank of China tries to encourage spending.

Fukushima disaster stemmed from 'a multitude of errors and willful negligence': parliamentary inquiry

A parliamentary inquiry released an unfliching report on the Fukushima nuclear disaster, calling the disaster manmade, wholly forseeable and even laying blame at the feet of Japanese culture itself.

Cambodia—prospective, stable and ignored: Ken Booth

Ken Booth has been involved in the mining industry for 30 years and sees the past two decades of quiet, stable growth that Cambodia has enjoyed out of the world's economic spotlight as an opportunity for investors.

Private mining firms not welcome in Saranda: Ramesh

Not deviating from his stated position on mining rush, Union Minister for Rural Development Jairam Ramesh on Monday reiterated that private companies were not welcome in Saranda.

Unmasking the Asian giant

Chinese operas have been keeping audiences enthralled for hundreds of years with mythical characters, enchanting stories and elaborate masks that add drama and mystery. While this fantastical treatment is appreciated in the theatre, it isn’t in g...

BNP Paribas sees a huge Nickel surplus of 40 000 mt in 2012

BNP Paribas S.A. (Euronext: BNP) likely to expected a huge nickel surplus of 40,000 metric tons (mt) in this year.

Copper market expects squeeze, big holding appears

Traders are bracing for a replay of the April squeeze that made copper expensive to obtain quickly, saying major trader Glencore controls almost half the inventories of the commodity held in London Metal Exchange-registered warehouses worldwide.

Social media derails Lynas Corp's rare-eaths plans

CEO Nicholas Curtis says he underestimated the power of social media as local residents in Malaysia have used Facebook and Twitter to rally local and foreign opposition to the company's proposed rare-earths plant.

Chaarat Gold receives mining permit for Kyrgyz licence

Chaarat Gold Holdings has received a mining permit for its Tulkubash licence area from the Kyrgyz Government. The company raised the funds for the project in March 2011 and is now in negotiations with the Government for a long term agreement. Chaarat G...

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."