Asia Mining News

Australia, Canada, Chile, Brazil and Mexico the top five mining projects’ destinations

In its annual ranking of countries in terms of political risks for mining investment, the mineral industry advisory firm Behre Dolbear, has ranked Australia, Canada, Chile, Brazil and Mexico as the top five nations in which to locate mining projects.

Aussie miners find Latin love

Australian miners are setting up in remote outback areas in a land enjoying a resources boom - Chile.

China on the prowl for mining investments in Africa, S.America and Asia

Chinese investors are turning their focus to emerging economies as they look to expand their demand for commodities and switching away from Australia and Canada, which are getting too expensive.

India wants to truck Afghan ore through Pakistan

India is hoping to bury the hatchet with its historical rival Pakistan, at least enough for both sides to benefit from a massive iron ore deposit in Afghanistan.

India's new tax measures may impact global diamond demand

With diamond jewelry demand booming in India, the phenomenal rise of domestic consumption has somewhat compensated for the decline in diamond jewelry demand in the traditional markets, especially the United States.

India’s polished diamond imports slashed 80% in February

A sharp decline in India’s polished diamond trade in February after an import tax started to be collected. India exported $1.44 billion worth of polished diamonds in February, a 53.7 percent drop compared to February 2011.

No Sri Lanka coal power plants after 2030

There will not be any opportunity in the world to run coal power plants after the year 2030, the Minister of Power and Energy, Patali Cahampika Ranawaka said.

Rio Tinto in Mongolian power struggle

A power solution for one of Rio Tinto's most prospective mines remains elusive, raising doubts over whether plans to be in production within six months can be achieved. T

Anglo looking for new coal assets

Anglo American is looking for thermal coal assets in Australia and Indonesia, especially as prices of potential targets have come down, the head of its thermal coal unit said in an interview.

India working on mining tax

An Indian government task force comprising representatives of steel, mines, forest and environment ministries was working on modalities for levy of a Forest Development Tax (FDT) on minerals mined from forested regions.

Korea Resources wants at least 10% of world’s largest met coal deposit

State-run Korea Resources Corp. (KORES) is planning to invest at least US$532 million (600 billion won) in mining projects abroad this yea, particularly in the coal sector of Indonesia and North America, reports Bloomberg.

Vale, Newmont Retain Appetite for Indonesia Mines Amid Stake Cut

Global companies led by Vale SA (VALE5) and Newmont Mining Corp. (NEM) plan to invest in Indonesia’s mines, undeterred by a new rule cutting foreign ownership, as they hunt for resources in the world’s biggest exporter of tin and thermal coal.

Zijin Mining planning $280m U.S. dollar-denominated bond issue

Zijin Mining Group Co Ltd said it plans a $280 million U.S. dollar-denominated bond issue, raising capital to acquire copper concentrate overseas for a smelter project of its unit. In a filing to the Hong Kong bourse on Tuesday, Zijin Mining said the bonds would have maturity of five years and a fixed interest rate of 4.25 percent per year during its term with interest payable semi-annually.

Kazakhmys remains confident of copper's longer term outlook

Kazakhmys, the world's 10th largest copper miner, was confident the long-term outlook for copper remained positive as a surge in prices drove its full-year profit higher. Kazakhmys said on Thursday its 2010 earnings before interest, tax, depreciation and amortisation (EBITDA) rose 59.5 percent to $1.93 billion. According to Thomson Reuters I/B/E/S estimates, the average EBITDA forecast stood at $1.86 billion.