Asia Mining News

Luxembourg shoots for the stars with fresh space mining deal

The country's ultimate objective is to have its own space mining agency by the end of the year.

Philippines plans new law to ensure responsible mining

Philippine President Rodrigo Duterte said on Friday the country's mining industry pays too little in tax and not enough in compensation for any environmental damage.

US steel production falls back in June

After strong start to 2017, US steel output growth for the first six months slows to just 1.3%.

Centerra gets some breathing room in dispute with Kyrgyz Republic

The arbitrator has sided with miner, allowing it to move forward with the case against the Central Asian country.

Iron ore soars past $70 a tonne

Prices have climbed almost 7% since Monday and almost 32% since the recent low of $53.36 a tonne hit on June 13.

Rio’s revised iron ore guidance pushes price to three-month high

From the recent low of $53.36 a tonne hit on June 13, iron ore prices have now surged more than 27%.

North Korea ban lifts coking coal price

Met coal hits 2-month high Friday as Chinese imports of steelmaking coal from totalitarian state drops 75% during first half of the year.

Coal mine crackdown dims prospects for Mongolia's fortune seekers

Working 50 metres (164 feet) under ground with minimal air supply, Uuganbaatar is one of thousands of Mongolians trying to make a living digging for coal.

Luxembourg becomes first European country to pass space mining law

The bill, approved by a vast majority, defines the conditions companies must fulfill to get a licence for launching a space mining mission.

Iron ore price hits 10-week high on China renewed appetite

Ore with 62% content in Qingdao added $1.86 overnight to close at $65.91, the highest since May 3 and 20% more than those year lows hit mid-June

Indonesia seeks meeting with Freeport CEO to end copper mine dispute

Indonesia says it will invite the head of mining giant Freeport McMoRan Inc to Jakarta this month to try to settle a festering dispute over a new deal to operate the world's second-largest copper mine.

Private capital says no to mining

Study shows Q2 2017 new private capital for natural resources investment dropped to lowest since 2011 and not a single mining fund were able to raise money.

Novo signs MOU to partner with Sumitomo Corporation to move Beatons Creek towards production

Novo Resources Corp. is pleased to announce that the Company has entered into a memorandum of understanding (the “MOU”) with Sumitomo Corporation, Japan (“Sumitomo”) to further develop the Company’s Beatons Creek project in the Nullagine region of Western Australia. The MOU is non-binding except as to certain provisions.

Top 50 mining companies reshuffle as Chinese, lithium firms climb rankings

Combined worth of 50 largest mining companies grow to $768 billion during first half of 2017, but a few big names drop down rankings.

London court hears Vedanta's challenge to Zambian villagers' pollution claim

Case has potential to set precedent for other foreign claims.

As Indonesian nickel ore flows again to China, famine turns to feast: Andy Home

The flow of Indonesian nickel ore to China has resumed after a three-and-a-half year break.

Top 3 coal countries produced 6% more coal from January to May

Just when you thought coal was out, the fossil fuel appears to be back on the burner.

Malaysia extends bauxite mining moratorium for six months

Moratorium aims to restrict illegal mining activity on private land and companies that ignore mining guidelines, resulting in environmental pollution.

Caterpillar reshuffles top management for mining divisions

Doug Hoerr, Caterpillar's vice president of the material handling & underground division, is retiring in August after more than 20 years with the company.

Rio Tinto shareholders greenlight sale of Aussie coal assets to Yancoal

The approval ends a three-week bidding war between Yancoal and Glencore over Rio's thermal coal assets in Australia.

Mongolian herders ink historic agreement with Oyu Tolgoi mine, government

Accompanied by OT Watch and Accountability Counsel, herders in the South Gobi used the IFC’s complaint office to negotiate agreement.

Rio brushes off Glencore latest offer for coal mines, sticks with Yancoal

The company has chosen to sell its Hunter Valley coal mines to China-backed Yancoal, but shareholders will decide.

China shuns Indian iron ore in favour of Australia's

Chinese steel mills are turning their backs on India and embracing Australia as a source of higher-grade ore for steelmaking.

EUR/JPY exchange rate and gold

Some analysts claim that the cross rate between the euro and the yen affects the price of gold (the term “cross” meaning here that the quote does not involve the U.S. dollar). Are they right? Let’s see the chart below and check it out.

Glencore fights back, sweetens deal for Rio Tinto’s Australian coal assets

Fresh bid is far better than the $2.55bn it offered earlier this month and considerably more than the $2.45bn offered by Yancoal, the Chinese-backed miner that is Rio’s preferred buyer.