Asia Mining News

Frenzy for Aldridge Minerals after resource update

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.

From mine to finished magnets: Molycorp closes US$1.3 billion acquisition of Neo Materials

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 state fund builds up stake in Ivanhoe, does nothing for share price

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 is raising $20 million to reopen South Korean tungsten mine

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 […]

10-year review critiques the mining industry's sustainability

The IIED report urges the sector to move from improving its standards in principle to actually implementing them in practice.

Global mining industry profits and shares went different ways in 2011: PwC

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%.

Discovery of world's largest tungsten mine sends Chinese stocks skyrocketing

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 laments Argentina, says the commodity supercycle is still intact

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.

Are Indian consumers really falling out of love with gold? – Survey

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.

Potash stocks led by Mosaic and Potash Corp. hit annual lows on financial worries

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.

Mining policy vacuum in Philippines is stifling investment

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 to tax sale and production of rare earth

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.

Cashing in on Japan's debt conundrum?

On the heels of Fitch's sovereign credit downgrade to A plus (the fifth-highest investment grade), Japan's government debt continues to swell.

Increasing demand from China could see diamonds sparkle, says Merrill Lynch

An increase in demand from Chinese consumers could make diamonds an attractive proposition for investors, according to Bank of America Merrill Lynch

Singapore iron ore platform off to brisk start

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 mulling undersea mineral exploration

China could take a page out of Nautilus Minerals' playbook and begin exploring for undersea polymetallic sulphide deposits.

Silvercorp says work interrupted at mine in China

Canadian Silvercorp Metals (TSX: SVM-News)(NYSE: SVM-News), China’s biggest silver miner, said Monday that production at its flagship silver-lead-zinc Ying Mine will be interrupted for about five days as a result of power interruptions.

Freeport McMoRan: Labour dispute and lower copper prices pressuring stock

I'm not all that thrilled to be owning Freeport McMoRan Copper & Gold (FCX) right now. While the company's stock has tended to be highly correlated to the price of copper, that correlation has slipped a bit. I'm guessing this has a lot to do with the violence and labor disputes at the company's Grasberg mine in Indonesia.

Market Chatter: Oil India Eyes Stake in ConocoPhillips' Canada Oil Sands

State-run explorer Oil India is looking at buying stake in ConocoPhillips' (COP.N) oil sand assets in Canada, as well as the Gabon assets of France's Maurel et Prom, Finance Director T.K. Ananth Kumar said on Monday.

Singapore-based iron ore platform to compete with China's beginning on Wednesday

A second major physical iron ore trading platform, supported by major mining companies and Chinese steelmakers will launch this Wednesday, competing directly with China's new own platform in a race to create an industry price benchmark.

Rio Tinto confirms strong potential for diamond jewellery demand in China

An increasing demand for diamond jewellery coming from China could help precious stone producers to boost sales in the following months, hinted diversified miner Rio Tinto (LON:RIO) in a release summarizing key insights from a market research.

Asian Mineral Resources says no to Norilsk Nickel's $22 million offer

Asian Mineral Resources' board is recommending that the shareholders turn down Norilsk Nickel's $22.3 million offer or 11 cents a share.

Diamond-seller Choksi takes on world with Bollywood

Mehul Choksi sees his jewelry business one day joining LVMH Moet Hennessy Louis Vuitton SA (MC) and Cartier among the biggest names in luxury goods. Choksi is chairman and managing director of Gitanjali Gems Ltd. (GITG), India’s biggest diamond and gold-jewelry retailer by sales.

Global aluminum market to reach $112.3 billion this year: report

The value of the global aluminum market will reach $112.3 billion this year according to a new study published by Netherlands-based research company ADSReports.