Asia Mining News

Diamond-backed raffle for “world’s most expensive dinner” canceled

The experience would include $17,000 diamond chopsticks and an 18-course dinner prepared by the Michelin-starred team from Jaan.

Asian gold-backed ETFs grow by nearly 10% in February -WGC

Asian-listed gold ETFs added 7.9 tonnes worth $318.1 million, an 8.3 percent increase from January.

Glencore's talks to sell cobalt to Chinese firm falter on price

Price is a sticking point as Glencore and other major producers are now able to exert more influence in negotiations, sources said.

Why leading investors are backing gold

Legendary investor Rick Rule, Chief Executive Officer, Sprott US Holdings, speaking ahead of his appearance at Mines and Money Asia, is positive on gold equities for 2018.

China to cut more coal, steel output to defend 'blue skies'

China’s state planner pledged on Monday to cut more steel and coal production capacity this year.

China’s staggering demand for commodities

It’s said that in China, a new skyscraper is built every five days.

Coal India output, sales rise as power plants rebuild stockpiles

Coal India Ltd.’s shipments rose 4.8 percent from a year ago and output increased for a seventh straight month.

Mongolia's Oyu Tolgoi mine to lift force majeure

Majority owner Turquoise Hill Resources Ltd said that it expected to make up any sales-related effect over the next few quarters.

Mongolian court sides with government in copper mine ownership row

The Erdenet mine produces 530,000 tonnes of copper concentrate a year.

Lithium glut? No way, say industry executives eyeing demand

Prices for lithium have more than doubled in the past two years on forecasts for massive demand from the electric vehicle industry.

South Korea's POSCO buys stake in Aussie lithium producer, signs supply deal

South Korea's largest steel producer has acquired 4.8% stake in Pilbara Minerals, from which it will buy up to 240,000 tonnes of lithium concentrate per year.

For coal miners, it's time to exit or get rich: Russell

If there is a trend at play here, it’s that diversified miners are the ones most likely to exit coal.

Shipping gauge shows iron ore, copper prices heading for fall

CHART: Baltic Dry Index has plummeted 32% since December, opening up huge gap to closely correlated industrial metal prices.

5 record breaking gemstones even billionaires can't buy

The global economy is booming and demand for precious jewels, particularly colored gemstones, has never been higher.

Rio to build power plant at Oyu Tolgoi copper-gold mine in Mongolia

Move would add further costs to an ongoing $5.3 billion underground expansion of the massive mine.

Corruption perceptions index 2017

This year’s Corruption Perceptions Index highlights that the majority of countries are making little or no progress in ending corruption.

Kaz Minerals sets higher output targets for 2018 as profits jump

Kaz Minerals reported a jump in 2017 sales and production as its main mines ramped up and said it expected its 2018 output to rise as much as 16%.

Rio Tinto says changing structure, moving some staff

Rio Tinto, the second biggest miner by market capitalisation, has listings in London and Australia, a headquarters in London and an Australian office.

Canada the world's overall top mining destination, despite Saskatchewan fall

That's considering the combined rankings of all its provinces and territories, but Finland is the most attractive jurisdiction this year.

Cash-rich global miners eye India as coal sector opens up for private firms

India’s decision to allow private and foreign companies to bid for coal mines without any end-use or price restrictions is likely to lure foreign mining giants, currently swimming in cash.

Apple in talks to buy cobalt directly from miners — report

Electronics and car makers are racing to lock in supply agreements for cobalt amid fears of shortage.

Miners rich in cash are aiming for fat dividends, debt payments

The mining industry is awash with cash, and so far it’s got two main uses — pay down debt and reward investors.

Glencore gives investors $2.9bn in dividends after ‘strongest’ results ever

The Swiss miner and commodities trader Glencore said its solid finances will let it to pursue more acquisitions if opportunities arise.

Mongolia says can build power plant to supply Oyu Tolgoi mine

Tensions have mounted between the Mongolian government and its fellow shareholders in Oyu Tolgoi, where Rio Tinto is operating a huge underground extension.

Toyota to make cheaper electric motors by halving use of rare earths

Asia’s No.1 carmaker has developed a magnet that reduces dependence on neodymium, a key rare earth metal used in the world’s most powerful batteries for electric vehicles.