Asia Mining News

CIL, Limpopo government ink pact to develop coal mines in South Africa

The government today said Coal India (CIL) has signed a pact with government of Limpopo, South Africa for jointly identifying, exploring and developing coal mines.

India plagued by problems acquiring foreign mines

India is not China when it comes to successful acquisitions of foreign mining companies, reports the Wall Street Journal.

Uncertain coal supplies in India drive Power Ministry to seek Prime Minister’s intervention

With no end in sight to the continuing tussle between state-run Cola India Limited (CIL) and the power producers over the fuel supply issues, the Power Ministry has petitioned the Prime Minister’s Office (PMO) to intervene and settle the issue pertaining to signing of new Fuel Supply Agreements (FSAs) and some controversial clauses in it.

Anglo Asian gets the green light to build second gold mine in Azerbaijan

Anglo Asian (LON:AAZ) shares were up 3% to 35 pence this morning on news that the government of Azerbaijan has approved the development of the group's second gold mine in the country, Gosha.

Australian coal miners fail trying to reopen Ebenezer mine

Australian protestors fighting the reopening of the Queensland Ebenezer mine by Zedemar Holdings, are considering an appeal after the Supreme Court dismissed their claims.

Gold takes it on the chin…what's next?

There was a strong reaction last week to the elevated debt crisis in Europe, with commodities and equities being indiscriminately sold. Gold fell 3 percent this week, losing its safe haven status as the dollar grew stronger and the 10-year government note headed lower.

Chart of the week: where global industrial production is coming from

Many have compared today’s economic recovery to the slow, stagnant growth Americans lived through in the 1970s.

Indonesian Ni Ore export tax levied 20pct

The Indonesian government enforced an export tax system effective May 6th 2012 in which 20% export tax is levied on 14 mineral products of Indonesian origin including nickel ore. As a result Japan and China, two major importers of the nickel ore from...

China posts 10 pct rise in Q1 gold output

(MENAFN) China's Ministry of Industry and Information Technology said that during the first quarter, the country's production of gold rose 10 percent from a year earlier, reported Xinhua News.The ministry stated that the volume in the period reached 80...

End of the Kim era at Kazakhmys

When Kim got involved with Kazakhmys (then called ZhezkazganTsvetMet) during the 1990s the Soviet era the state company was in complete disarray and debt laden. He turned Kazakhmys into a $6 billion company and amassed a personal fortune of $3.5 billion along the way.

Calls for Indian gold bonds grow louder

The Indian government is mulling the issuance of gold bonds to decrease imports, arrest the rupee's slide and channel household savings into infrastructure.

Indonesia plans new quotas to limit mineral exports

The quotas, which will be initially introduced between June and August, will apply to all mineral exporters, a Trade Ministry official said Friday.

The gold in mining: Canada's B.C. sector thriving, thanks in large part to China

The head office is just one among 800-odd mining companies clustered in downtown Vancouver. But even in a group so large it serves as the backbone of the city’s business district — and the world’s centre of mining expertise — Teck Resources stands out.

Uranium prices to hit rock bottom this year

With the price of uranium down about 25% from levels reached before the Japanese earthquake and nuclear disaster in Japan last year, the least the industry wanted to hear was what the latest edition of the Scotiabank Commodity Price Index had to say: the yellow material prices may well bottom in 2012.

Mongolia backtracks on state ownership of mining companies

Fearing a backlash by foreign investors in the mining sector – the foundation of the country's economy – Mongolian legislators on Tuesday watered down many of the provisions of draft legislation that gives the state greater control and ownership of mining projects.

Cebu copper miner records output increase last month

Carmen Corp., a subsidiary of listed miner Atlas Consolidated Mining and Development Corp., posted output hike last month on the back of better metal grades and higher gold prices.

New China iron ore exchange trades 242,000 tonnes on first day

A total of 242,000 tonnes of iron ore were traded on the first day of business on China’s first physical iron ore trading platform, China Beijing Mining Exchange (CBMX) said in a press release.

Fukushima now priced into market: Uranium One

Uranium One said the effects of the Fukushima nuclear power plant meltdown in Japan last March are now priced into the market for uranium oxide.

China wants to take over the world's largest undeveloped iron ore project

A private group of Chinese magnates is planning to take away Guinea’s Simandou, the world's largest undeveloped iron ore project, from Anglo-Australian mining giant Rio Tinto.

Import of coal a remedy for India's power generation losses: Panel

Importing coal is the "remedy" for avoiding power generation losses in the country, while the government's replies on the issue have been ambiguous, a Standing Committee report on Energy has said.

Political indecision strangles India's coal industry

India's starving coal industry is caught between the devil and the deep blue sea: between needing state backing for the massive investment of buying overseas mines and infrastructure, and being frustrated by impenetrable government red tape.

New Chinese iron ore trading platform debuts tomorrow

The new China Beijing Metals Exchange (CBMX), the country’s first physical iron ore trading platform is set to debut Tuesday, with the major producers of the commodity BHP Billiton (NYSE:RIO), Vale (NYSE:VALE), Rio Tinto (NYSE:RIO) as members.

Vietnam president visits mining workers

President Sang visited workers at the Vang Danh Coal Company, which employs 6,000 workers and produces more than 600,000 tonnes of coal a year. President Sang also presented gifts to Do Van Quang, whose family has three generations being coal miners.

Japan completely without nuclear power for the first time since 1970

Japan will find itself without nuclear power for the first time since 1970 as the last of its currently operating nuclear reactors prepares to go offline.

Indonesia jumps on the mining exports tax wagon

Indonesia has decided to have its mining cake and eat it too, as the country, one of the world’s largest exporters of copper and coal, will start imposing a 20% tax on mining exports beginning next week.